JG Chemicals IPO Review

JG Chemicals IPO Review

IPO Open Date: March 5, 2024

IPO Close Date: March 7, 2024

IPO Price: ₹210 to ₹221 per share

Lot Size: 67 Shares

Listing: March 13, 2024

JG Chemicals is scheduled to hit the market on March 5, 2024 and close on March 7, 2024. JG Chemicals plans to raise around ₹251.19 Cr through an IPO with a sale of up to 11,366,063 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

JG Chemicals Limited, founded in 1975, is a zinc oxide manufacturer using the French process and offers a wide range of over 80 grades of zinc oxide. The product finds applications in various industries such as ceramics, paints, pharmaceuticals, cosmetics, electronics, agrochemicals, lubricants, and animal feed. With manufacturing facilities located in Jangalpur and Belur in Kolkata, West Bengal, and Naidupeta in Nellore District, Andhra Pradesh, the company ensures quality and safety standards with ISO certifications across all its operations.

Catering to a diverse customer base of more than 200 local and 50 international clients in over 10 countries, JG Chemicals Limited employs 112 permanent staff along with over 100 workers and apprentices as of December 31, 2023. In terms of financial performance, the company recorded operating incomes of ₹4,863.22 million for the nine-month period ending December 31, 2023, and ₹7,845.76 million, ₹6,128.30 million, and ₹4,352.98 million for the financial years 2023, 2022, and 2021 respectively.

JG Chemicals.

JG Chemicals IPO Details

JG Chemicals IPO opens on March 05, 2024, and closes on March 07, 2024. The Listing date for JG Chemicals IPO is on March 13, 2024. The price band for IPO is ₹210 to ₹221 per share and lot size of 67 Shares.

IPO DateMar 05, 2024 to Mar 07, 2024
Listing DateMar 13, 2024
Price₹210 to ₹221 per share
Lot Size67 Shares
Issue Size₹251.19 Cr
Face Value₹10 per share

JG Chemicals IPO Tentative Timetable

JG Chemicals opening date is March 05, 2024 and close date is March 07, 2024. The IPO allotment date is March 11, 2024. The refund initiation of IPO is on March 12, 2024. The credit of shares in demat account is on March 12, 2024. The listing date is on March 13, 2024.

IPO OpeningMar 05, 2024
IPO ClosingMar 07, 2024
IPO Allotment DateMar 11, 2024
Refund InitiationMar 12, 2024
Shares Credit to DematMar 12, 2024
Lisiting DateMar 13, 2024

JG Chemicals IPO Lot Size

Lot Size of this IPO is 67 shares. A retail-individual investor can apply for up to 13 lots (871 shares or ₹192,491).

S-HNI (Minimum)14938₹207,298
B-HNI (Minimum)684,556₹1,006,876

JG Chemicals IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding

JG Chemicals IPO Review

JG Chemicals Ltd., India's largest zinc oxide manufacturer, is gearing up for its debut combo IPO to raise Rs. 251.19 crore. Despite facing challenges in the first half of FY24 due to global zinc oxide price volatility, the company remains optimistic about its future prospects. With a strong market position, diversified product range serving multiple industrial sectors, and a track record of long-standing customer relationships, JGCL presents an intriguing investment opportunity for those eyeing medium to long-term gains.

Investors interested in JG Chemicals' IPO should take note of its significant presence in key industries such as rubber, ceramics, paints, and more. The company's customer-centric approach, coupled with its focus on product customization and quality, sets it apart in the market. While the IPO pricing may appear steep based on FY24 earnings, JGCL's resilience, growth potential, and commitment to innovation make it a compelling choice for investors looking to capitalize on the company's strong market position and future growth prospects.

In conclusion, JG Chemicals Ltd.'s IPO offers investors a chance to tap into India's booming zinc oxide manufacturing sector with a market leader. Despite temporary setbacks, the company's strategic initiatives, robust customer base, and expansion plans signal a promising outlook. Investors willing to bet on JGCL's long-term success in the zinc oxide market may find this IPO worth considering for potential rewards down the line.

JG Chemicals IPO Subscription Status (Bidding Details)

Table not found

JG Chemicals IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

JG Chemicals IPO FAQs

What is JG Chemicals IPO?

JG Chemicals is issuing 11,366,063 equity shares with a face value of ₹10 each, totaling up to ₹251.19 Cr. The shares are being offered at a price of ₹210 to ₹221 each, with a minimum order quantity of 67 shares.

Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When JG Chemicals IPO will open?

JG Chemicals will open on March 05, 2024 for QIB, NII, and Retail Investors.

When JG Chemicals IPO will end?

JG Chemicals will end on March 07, 2024.

What is JG Chemicals IPO Size?

JG Chemicals IPO size is ₹251.19 Cr.

What is JG Chemicals IPO Price Band?

JG Chemicals price band is ₹210 to ₹221 per share.

What is the JG Chemicals IPO Allotment Date?

JG Chemicals allotment date is March 11, 2024.

What is the JG Chemicals IPO Listing Date?

JG Chemicals listing date is March 13, 2024. The IPO is to be listed on BSE and NSE.

How to JG Chemicals IPO through Zerodha?

To apply for the IPO “JG Chemicals” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply JG Chemicals IPO through Upstox?

To apply for the IPO “JG Chemicals” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check JG Chemicals IPO Allotment Status?

For JG Chemicals IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is JG Chemicals IPO GMP?

You can check out here: JG Chemicals IPO GMP

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