JG Chemicals IPO Garners Strong Investor Interest, Retail Subscription at 3.64 Times

18 Apr 2024 , 03:32 PM

JG Chemicals’ IPO is gaining traction with the retail investors showing strong interest, subscribing 5.61 times, and Non-Institutional Investors (NII) portion being booked 5.29 times. The Qualified Institutional Buyers (QIB) portion is also booked at 0.02. Click here to subscribe the IPO

The IPO has received bids for 2,01,54,538 shares against the available 81,68,714 shares, reflecting robust demand across all investor segments, including retail, NII, and QIB.

In terms of share allocation, the IPO reserves not more than 50% for qualified institutional buyers, at least 15% for non-institutional investors, and not less than 35% for retail investors. 

The subscription window for JG Chemicals IPO is open from March 5 to March 7, with a price range of ₹210 to ₹221 per equity share having a face value of ₹10. Investors can bid for a minimum of 67 equity shares, and the company raised ₹75.35 crore from anchor investors on March 4. JG Chemicals holds the distinction of being India’s largest zinc oxide manufacturer in both output and income, also ranking among the top 10 global producers with a distribution of over 80 grades of zinc. 

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