JG Chemicals IPO Oversubscribed 1.81 Times, Retail Category Surges to 2.90 Times

18 Apr 2024 , 03:32 PM

JG Chemicals' IPO opened for subscription on March 5, 2024, garnering significant investor interest. The public issue was fully subscribed, with the majority of subscriptions coming from retail investors. At the time of writing, on March 5, the IPO was oversubscribed by 1.81 times, with the retail category seeing a subscription of 2.90 times.

The qualified Institutional Buyers (QIB) category remained unsubscribed, and the Non-Institutional Investors (NII) category was subscribed 2.75 times.

JG Chemicals Limited equity shares are proposed to be listed on NSE and BSE, with the listing scheduled for March 13. The IPO's face value is ₹10 per equity share, and the market timings for applications are from 10 am to 5 pm.

The IPO's price band is set at ₹210 to ₹221, with a lot size of 67 shares requiring an investment of ₹14,070. HNI investors need a minimum lot size of 938 shares with an investment of ₹2 lakh. Founded in 1975, JG Chemicals is a zinc oxide manufacturer using the French process, producing over 80 grades of zinc oxide.

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