IPO

JG Chemicals Limited IPO

Mainboard

Specialty Chemicals

Listed On: Mar 13, 2024 at ₹ 209.0(NSE)

₹ 14807 /67 Shares

Check Allotment

05 Mar, 2024

Open Date

07 Mar, 2024

Close Date

11 Mar, 2024

Allotment Date

13 Mar, 2024

Listing Date
Price Summary

Last Closing

346.00 (56.56%)

52 Week High

558.00

52 Week Low

280.45

Last Update

18-Dec-2025 3:30 PM
JG Chemicals Limited IPO Issue Details
  • Issue Price ₹210-221 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,13,66,063 shares(aggregating up to ₹251.19 crore)
  • Fresh Share 74,66,063 shares(aggregating up to ₹165 crore)
  • Offer For Sale 39,00,000 shares(aggregating up to ₹86.19 crore)
  • Listing at BSE, NSE
  • List Price 209.0(NSE)
  • Listing Date 2024-03-13
  • Lead Manager Centrum Capital Limited
    Emkay Global Financial Services Ltd
    Keynote Financial Services Ltd
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 67 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 67 ₹14,807
Retail(max) 13 871 ₹1,92,491
SHNI(min) 14 938 ₹2,07,298
SHNI(max) 67 4,489 ₹9,92,069
BHNI(min) 68 4,556 ₹10,06,876
JG Chemicals Limited IPO Reservation

JG Chemicals Limited IPO offers total 11,366,064 shares. Out of which 2,273,214 (20%) allocated to QIB, 1,704,910 (15%) allocated to NII,3,978,122 (35%) allocated to RII, NA (NA%) allocated to employees and 3,409,818 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 3,409,818 (30%)
QIB Shares Offered 2,273,214 (20%)
NII (HNI) Shares Offered 1,704,910 (15%)
bNII > ₹10L 1,136,606 (10%)
sNII < ₹10L 568,303 (5%)
Retail Shares Offered 3,978,122 (35%)
Total Shares Offered 11,366,064 (100%)
JG Chemicals Limited IPO Documents
DRHP
RHP
ANCHOR
JG Chemicals Limited IPO Details


JG Chemicals Limited IPO is a book-built issue of ₹251.19 crores, The total issue size is ₹251.19 crores. The IPO of JG Chemicals Limited is priced at ₹210-221 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Mar 5, 2024 and ends on Mar 7, 2024. The allotment for JG Chemicals Limited IPO will be finalized on Mar 11, 2024. JG Chemicals Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Mar 13, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 67 shares, extendable to 14,807. S-HNIs will be able to bid for 938 shares at ₹2,07,298, while B-HNIs can also apply for a bid of 4,556 shares at ₹10,06,876. The book-running lead manager for the IPO is/are Centrum Capital Limited, Emkay Global Financial Services Ltd, Keynote Financial Services Ltd.

The total issue ₹251.19 crore, comprising a fresh issue of 74,66,063 shares ₹165 crore and having Offer for Sale (OFS) of 39,00,000 shares to mop up ₹86.19 crore.

The JG Chemicals Limited IPO sets its price band at 210-221 for each share. A single application for JG Chemicals Limited IPO must contain at least 67 shares. Sentiment investors need to invest a minimum of 67 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,807 In order to participate in the sNII, investors must purchase at least 14 lots of 938 shares for ₹2,07,298, while the bNII requires 68 lots of 4,556 shares for an investment of ₹10,06,876.

Read More
JG Chemicals Limited IPO Subscription Analysis And Details
Retail
17.43x
QIB
32.09x
NII
46.32x
bNII
48.59x
sNII
41.80x
Total
27.78x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 2,273,214 1,704,910
1,136,606    568,303 		3,978,122 7,956,246
Day 1 05-03-24 05:00 PM
0.02 x 2.87
2.16 x   4.30 x 		3.60 x 2.44 x
Day 2 06-03-24 05:00 PM
0.45 x 9.64
7.69 x   13.53 x 		8.32 x 6.40 x
Day 3 07-03-24 05:00 PM
32.09 x 46.32
48.59 x   41.80 x 		17.43 x 27.78 x
Total No of Applications
10,12,547
JG Chemicals Limited Valuations
EPS Pre IPO ₹13.6/-
EPS Post IPO ₹11.01/-
P/E Pre IPO 16.25
P/E Post IPO 20.08
ROE 8.20%
ROCE 11.86%
Debt/Equity 0.11
RoNW 8.16%
PAT Margin 7.24
Price to Book Value 3.51
JG Chemicals Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 297.79 264.14 209.94
Revenue 794.19 623.05 440.41
Profit After Tax 56.79 43.13 28.80
Net Worth 199.89 147.66 108.48
Reserves & Surplus 175.67 151.23 107.17
About JG Chemicals Limited Company

JG Chemicals Limited is a zinc oxide manufacturing company using the French process. The company produces more than 80 grades of zinc oxide.

This product has various industrial applications such as ceramics, paints and coatings, pharmaceuticals and cosmetics, electronics and batteries, agrochemicals and fertilizers, speciality chemicals, lubricants, oil and gas, and animal feed.

The company operates three manufacturing facilities in Jangalpur and Belur, both in Kolkata, West Bengal and Naidupeta in Nellore District, Andhra Pradesh. Naidupeta is the largest facility, owned and operated by the Material Subsidiary.

All company manufacturing facilities are ISO 45001:2018 and ISO 14001:2015 certified and ISO 9001:2015 accredited.

For the six-month period ending on September 30, 2022, and for the fiscal years 2020, 2021, and 2022, the revenue from operations was ₹3,993.91 million, ₹4,352.98 million, ₹6,128.30 million, and ₹4,250.72 million, respectively. The revenue from operations showed a compound annual growth rate (CAGR) of 23.87% between the fiscal years 2020 and 2022.

The company has served the needs of more than 200 local and 50 international clients across 10+ countries.

As of October 31, 2022, the company had 105 permanent employees, over 100 laborers, and trainees.

Read More
JG Chemicals Limited - Promoter(s)

Suresh Jhunjhunwala

Anirudh Jhunjhunwala

Anuj Jhunjhunwala

Pre Issue Share Holding : 100%

Post Issue Share Holding : 70.99%

JG Chemicals Limited IPO - Issue Objectives
1

Investment in the Material Subsidiary, viz. BDJ Oxides (i) repayment or pre-payment, in full or in part, of all or certain borrowings availed by the Material Subsidiary; (ii) funding capital expenditure requirements for setting up of a research and development centre situated in Naidupeta (R&D Centre); and (iii) funding its long-term working capital requirements

2

Funding long-term working capital requirements of the Company

3

General corporate purposes.

JG Chemicals Limited IPO - Anchor Investors

JG Chemicals mobilises over Rs 75 crore from anchor investors ahead of IPO.

Massachusetts Institute of Technology was the biggest anchor investor, picking over 18.1 lakh equity shares worth Rs 40 crore. Carnelian Structural Shift Fund, Pinebridge Global Funds and SBI General Insurance Company were the other three investors who participated in the anchor book.

JG Chemicals Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
JG Chemicals Limited N/A N/A 63.02 27.49 8.16 3.51 Consolidated
Rajratan Global Wire Ltd. 19.72 19.72 86.54 33.43 22.79 7.62 Consolidated
Nocil Ltd. 8.95 8.92 93.14 30.97 9.61 2.98 Consolidated
Yasho Industries Ltd 59.54 59.54 208.75 30.03 28.52 8.56 Consolidated

Notes:

  1. For near-similar listed companies, the Closing market price of equity shares as on February 22, 2024 on BSE Ltd (Source: www.bseindia.com).
  2. For near-similar listed companies, the P/E Ratio has been computed based on the closing market price of equity shares as on February 22, 2024 (Source: www.bseindia.com) divided by the Basic EPS provided under Note 1 above.
  3. Based on Restated Consolidated Financials of J.G. Chemicals Limited for the financial year ending March 31, 2023.