Alternative to put money into IPO, JG Chemical substances IPO will open on March 5, verify worth band right here – India TV Hindi

IPO: Zinc oxide maker JG Chemical substances has set the worth band for its Rs 251 crore preliminary public providing (IPO) at Rs 210-221 per share. The corporate’s IPO will open on March 5 and shut on March 7. Anchor buyers will be capable to place bids for shares on March 4. New fairness shares value as much as Rs 165 crore shall be issued within the firm’s Rs 251.2 crore IPO. Aside from this, it should additionally embrace provide on the market (OFS) of 39 lakh shares value as much as Rs 86.2 crore.

The cash obtained from IPO shall be used right here

Underneath the OFS, Imaginative and prescient Tasks & Finvest Personal Restricted, Suresh Kumar Jhunjhunwala (HUF), Anirudh Jhunjhunwala (HUF) and Jayanti Industrial Restricted will provide fairness shares. The quantity of Rs 91 crore raised from the contemporary concern shall be used for funding in BDJ Oxides, the supplies subsidiary of JG Chemical substances, and Rs 35 crore shall be used to finance the long-term working capital wants of the corporate. Aside from this, an element shall be saved for basic firm functioning. This Kolkata-based firm is the biggest zinc oxide producer within the nation when it comes to manufacturing and income. It’s proposed to listing the corporate’s shares on BSE and NSE.

The corporate runs three manufacturing models

JG Chemical substances operates three manufacturing models: two in Jangalpur and Belur, each in Kolkata, West Bengal and one in Naidupeta (Nellore), Andhra Pradesh. Naidupeta is the biggest facility, owned and operated by the Supplies subsidiary. The corporate serves 200 native and 50 worldwide clients in additional than 10 nations. JG Chemical substances has reserved 50 per cent of the web provide for certified institutional buyers (QIBs), whereas 15 per cent shares shall be reserved for non-institutional buyers (NIIs). The quota for retail buyers has been fastened at 35 %. The e book operating lead managers of JG Chemical substances IPO are Centrum Capital Restricted, Emkay World Monetary Providers Restricted and Keynote Monetary Providers Restricted. The registrar of the providing is Kfin Applied sciences Restricted.

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