JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide

JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide
JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide
JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide
JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide

JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide

JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide/Company website

JG Chemicals Limited IPO: Unlocking Opportunities in Zinc Oxide

The eagerly awaited initial public offering (IPO) of JG Chemicals Limited has commenced today and will continue until March 7, 2024. This IPO, featuring a price band of ₹210 to ₹221 per equity share, aims to raise ₹251.19 crore. The Zinc Oxide manufacturer allocates ₹165 crore for fresh shares, while ₹86.19 crore is earmarked for the Offer for Sale (OFS) route. The IPO has garnered attention in the grey market, with a reported grey market premium (GMP) of ₹52.

JG Chemicals Limited IPO: Key IPO Details
  1. GMP Insight: Shares of JG Chemicals are commanding a premium of ₹52 in the grey market, offering potential cues for investors.
  2. IPO Price Band: JG Chemicals has fixed the IPO price band at ₹210 to ₹221 per equity share.
  3. IPO Subscription Status: By 10:21 AM on the first day, the public issue was subscribed 0.21 times overall, with the retail portion at 0.31 times and the NII portion at 0.22 times.
  4. Fund Utilization: The company aims to raise ₹251.19 crore, with ₹165 crore directed towards fresh shares and ₹86.19 crore through the OFS route.
  5. Lot Size: Bidders can apply in lots, and each lot comprises 67 company shares.
  6. Allotment Date: The finalization of share allocation is anticipated on March 8, 2024.
  7. Registrar: KFin Technologies has been appointed as the official registrar for the IPO.
  8. Listing Plans: JG Chemicals is set to be listed on BSE and NSE, with a tentative listing date of March 12, 2024.
Expert Perspectives on JG Chemicals IPO:

Arun Kejriwal, Founder of Kejriwal Research and Investment Services, suggests a ‘subscribe’ stance, emphasizing the positive business outlook, particularly in the auto segment. He notes the IPO’s attractive valuations.

Prathamesh Masdekar, Research Analyst at Stoxbox, assigns a “SUBSCRIBE” rating, highlighting JG Chemicals as India’s largest zinc oxide manufacturer. The company’s expansion plans and strong customer base contribute to a positive outlook, despite potential cyclical returns.

As the IPO unfolds, market experts foresee opportunities in JG Chemicals, urging investors to consider the potential for substantial returns, tempered by awareness of potential cyclical market dynamics and a longer investment horizon.

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