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J.G.Chemicals Limited raises Rs. 75.35 crore from Anchor Investors

Posted On: 2024-03-04 22:25:08 (Time Zone: IST)


J.G.Chemicals Limited, India's largest zinc oxide manufacturer in terms of production and revenue, has garnered Rs. 75.35 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, March 05, 2024. The company informed the bourses that it allocated 34,09,818 equity shares at Rs. 221 per share on Monday, March 04, 2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Massachusetts Institute of Technology, Carnelian, Pinebridge and SBI General Insurance Company.

Centrum Capital Limited, Emkay Global Financial Services Limited, and Keynote Financial Services Limited are the book running lead managers and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

IPO Details

The issue consists of a fresh issue of equity shares worth Rs 1,650 million and an offer for sale (OFS) of up to 3.90 million equity shares by investor selling shareholders.

The Company is proposing to open its initial public offering of Equity Shares (the "Offer") on Tuesday, March 05, 2024, and closes on Thursday, March 07, 2024. The price band for the Offer has been determined at Rs 201 - Rs 221 per equity share.

The IPO will fetch Rs 251.19 crore at the upper end of the price band.

Investors can bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.


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