The subscription for the initial public offering (IPO) of JG Chemicals concluded on March 7, 2024.
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The IPO saw an overall subscription of 28.52 times. The retail category was oversubscribed 18.03 times, the Qualified Institutional Buyers (QIB) category was subscribed 32.33 times, and Non-Institutional Investors (NII) 47.92 times.
The company initially put up 79,56,246 shares for grabs but ended up receiving bids for 22,69,11,245 shares.
The allotment of shares will be finalised on March 11, 2024, and will list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on March 13, 2024.
Investors keen to check their allotment status can do so online by logging into either the BSE website or the KFin Technologies website.
Steps to check allotment through BSE
Visit the BSE website by clicking here
Select ‘Equity’ in the issue type.
Enter either the Application Number or PAN Number.
Verify by clicking on ‘I’m not a robot’.
Click on the ‘Search’ button.
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Steps to allotment through KFin Technologies Limited
Visit the website by clicking here
Select JG Chemicals Limited.
Choose the Application Number/Demat Account/PAN option and enter the details.
Enter Captcha.
Click on the ‘SUBMIT’ option.
Latest GMP for JG Chemicals
As of March 7th, 2024, the latest Grey Market Premium (GMP) for JG Chemicals IPO stands at Rs 20.
If we consider the IPO’s price band of Rs 221, the anticipated listing price per share is expected to be around Rs 241, suggesting a potential gain of approximately 9.05 per cent per share.
JG Chemicals IPO details
The IPO aims to raise Rs 251.19 crore through a book-built issue, consisting of a fresh issue of 75 lakh shares worth Rs 165 crore and an offer for sale of 39 lakh shares worth Rs 86.19 crore.
Centrum Capital Limited, Emkay Global Financial Services Ltd, and Keynote Financial Services Ltd are the book running lead managers, while Kfin Technologies Limited is the registrar for the issue.
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The proceeds from the IPO will be utilized for debt repayment, funding for an R&D centre in Andhra Pradesh, and long-term working capital needs, in addition to supporting the company’s general corporate purposes.
