Mar 13, 2024 09:39 AM IST
JG Chemicals IPO listing: The IPO has received great response from its retail and non institutional investors (NII). Check details here
JG Chemicals IPO listing: JG Chemicals IPO is set to be listed on the bourses today (March 13). The allotment was finalised earlier and crediting of shares to demat accounts for those who have been allotted was completed on March 12 as well as the refund process was also completed. The IPO has received great response from its retail and non institutional investors (NII) and on the last day of subscription, it was subscribed 27.78 times, as per BSE data. Retail investors portion subscribed the IPO 17.44 times while NII portion booked 46.33 times, and Qualified Institutional Buyers (QIB) portion 32.09 times on the last day of subscription.
JG Chemicals IPO details
The IPO reserved not more than 50% of the shares in the public issue for QIB, not less than 15% for NII, and not less than 35% of the offer for retail investors. It had opened for subscription on March 5 and closed on March 7. The price band was set in the range of ₹210 to ₹221 per equity share of the face value of ₹10. In the IPO, investors could bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter.
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JG Chemicals IPO GMP
The grey market premium is +28 which showed that the share price was trading at a premium of ₹28 in the grey market. Therefore, the estimated listing price of JG Chemicals share price was indicated at ₹249 apiece- 12.67% higher than the IPO price of ₹221.
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The 251.19 crore IPO comprises a fresh issue of ₹165 crore and an offer-for-sale (OFS) of up to 3,900,000 equity shares of face value of ₹10. The company intends to use net proceeds from the IPO for investing in the Material Subsidiary, BDJ Oxides, repaying or prepaying borrowings related to the same, financing capital expenditures and working capital needs.
The book running lead managers of the JG Chemicals IPO are Centrum Capital Limited, Emkay Global Financial Services Ltd, and Keynote Financial Services Ltd. The registrar of the IPO is Kfin Technologies Limited.
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