JG Chemicals IPO Price Range

"The zinc oxide manufacturer, JG Chemicals Ltd, has announced a price range of Rs 210-221 per share for its upcoming public offering scheduled to open on March 5.

Key dates for the offering include the anchor bidding on March 4, closure on March 7, basis of allotment on March 11, and shares credited to demat accounts on March 12. The listing on exchanges is expected on March 13.

The Initial Public Offering (IPO) comprises a combination of fresh shares worth Rs 165 crore by the company and an Offer-For-Sale (OFS) of 39 lakh equity shares by promoters. At the upper price band, the total IPO size is Rs 251.19 crore, with an estimated post-issue market capitalization of Rs 860 crore.

Promoters participating in the OFS include Vision Projects & Finvest, Jayanti Commercial, Suresh Kumar Jhunjhunwala (HUF), and Anirudh Jhunjhunwala (HUF). The net proceeds from the fresh issue will see an investment of Rs 91.06 crore in its material subsidiary BDJ Oxides, Rs 35 crore for long-term working capital, and the remaining funds allocated for general corporate purposes.

JG Chemicals asserts its position as India’s largest zinc oxide manufacturer based on production and revenue, particularly through the French process. Their products find applications across various industries, including rubber, ceramics, paints, pharmaceuticals, electronics, agro-chemicals, and more."