Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Markets / Ipo/  JG Chemicals IPO listing date today. Here's what GMP, experts say on share debut
BackBack

JG Chemicals IPO listing date today. Here's what GMP, experts say on share debut

JG Chemicals IPO expected to list flat to muted at ₹221 per share due to subscription demand from all investors. Analyst advises cautious investors to book profit on listing day.

JG Chemicals IPO listing date has been scheduled for today (Wednesday, March 13) on the bourses at 10:00 IST. (https://jgchem.com/)Premium
JG Chemicals IPO listing date has been scheduled for today (Wednesday, March 13) on the bourses at 10:00 IST. (https://jgchem.com/)

JG Chemicals IPO: JG Chemicals IPO listing date has been scheduled for today (Wednesday, March 13) on the bourses at 10:00 IST. The information on the BSE website states that during Wednesday's deals, JG Chemicals share price will list on the BSE and NSE in a special pre-open session. JG Chemicals share price today will be available for trade from 10:00 IST.

" Trading Members of the Exchange are hereby informed that effective from Wednesday, March 13, 2024, the equity shares of J.G.Chemicals Limited shall be listed and admitted to dealings on the Exchange in the list of 'B ' Group of Securities," said the company in an exchange filing.

Also Read: JG Chemicals IPO to debut on bourses tomorrow; here's what GMP hints ahead of listing

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

JG Chemicals IPO details.
View Full Image
JG Chemicals IPO details.

Also Read: JG Chemicals IPO allotment finalised today; latest GMP, 4 steps to check status

JG Chemicals IPO listing price prediction

Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities

As the largest manufacturer of zinc oxide with a monopoly in the industry, Tapse claims that on the last day of the IPO process, it got a good amount of subscription demand from all types of investors. As a result, a flat to muted listing at its issue price of 221 per share is expected.

Given the negative outlook for the market and the pressure to sell in the mid- and small-cap sectors, a flat to muted listing makes sense. According to him, JG Chemicals Ltd is maintaining its crucial position in the zinc oxide market because of its strong market position, diverse clientele, and smart expansion strategies.

As a result, Tapse stated that after taking into account all the factors, he advises cautious investors to "Book Profit" on the day of listing, while those who want to add should wait and observe the market after listing performance before acting.

Also Read: JG Chemicals IPO allotment finalised today; latest GMP, 4 steps to check status

Arun Kejriwal, founder of Kejriwal Research and Investment Services

Kejriwal believes that the JG Chemicals IPO received less than the kind of response some IPOs received in the recently overcrowded market. The recent volatility in the secondary market could be a possible reason for that. The company supplies zinc oxide to the tyre and rubber industries, which is expected to fuel the company's order book. But it may not have a bumper debut. The stock may list in between 230 to 237 per share range.

VLA Ambala, a SEBI Registered RA and Founder of SMT Stock Market Today

Given that the industry PE is 25 and the IPO is priced at a discounted  PE ratio of 20, Ambala claims that the offer is lucrative. Highlighting its operational sustainability even further is JG Chemicals' intention to utilise the profits from the 251-crore initial public offering  to improve product R&D, pay down debt, and increase long-term working capital.

Ambala forecasts a premium listing ranging from 15% to 35% of its price band of 210-221.

JG Chemicals IPO GMP price today

JG Chemicals IPO GMP today or grey market premium is +5. This indicates JG Chemicals share price were trading at a premium of 5 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of JG Chemicals share price was indicated at 226 apiece, which is 2.26% higher than the IPO price of 221.

Based on last 14 sessions grey market activities, the current GMP ( 5) is showing signals towards the lower side. The lowest GMP is 0, while the highest GMP is 60, according to investorgain.com analysts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: JG Chemicals IPO last bidding day today: Check GMP, subscription status, review, key dates, more. Should you subscribe?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 13 Mar 2024, 07:14 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App