J.G. Chemicals IPO: Zinc oxide maker raises ₹75.35 crore from anchor investors ahead of public issue
The company informed the bourses that it allocated 34,09,818 equity shares at ₹221 per share on Monday, March 04, 2024, to four anchor investors.
Zinc Oxide manufacturer J.G. Chemicals Limited, on Monday, announced that it has raised ₹75.35 crore from anchor investors ahead of its initial public offerings (IPO), which will open for subscription on Tuesday, March 5.
The company informed the bourses that it allocated 34,09,818 equity shares at ₹221 per share on Monday, March 04, 2024, to four anchor investors.
"The IPO Committee of the Company at its meeting held on March 4, 2024, in consultation with the Selling Shareholders, Centrum Capital Limited, Emkay Global Financial Services Limited and Keynote Financials Services Limited ("the Book Running Lead Managers"). has finalized allocation of 34,09,818 Equity Shares, to Anchor Investors at Anchor Investor Allocation Price (which was decided by the Company in consultation with the Book Running Lead Managers) of & 221 per Equity Share (including share premium of & 211 per Equity Share)," J.G. Chemical Ltd said in an exchange filing.
Foreign and Domestic Institutions who participated in the anchor were Massachusetts Institute of Technology, Carnelian, Pinebridge and SBI General Insurance Company.
"Out of the total allocation of 34,09,818 Equity Shares to the Anchor Investors, Nil Equity Shares (i.e., Nil % of the total allocation to Anchor Investors) were allocated to Nil domestic mutual funds, which have applied through a total of Nil schemes," the company further added.
Centrum Capital Limited, Emkay Global Financial Services Limited, and Keynote Financial Services Limited are the book running lead managers and KFin Technologies Limited is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.
J.G. Chemical IPO Details
The issue consists of a fresh issue of equity shares worth ₹1,650 million and an offer for sale (OFS) of up to 3.90 million equity shares by investor selling shareholders.
The Company is proposing to open its initial public offering of equity shares on Tuesday, March 05, 2024, and closes on Thursday, March 07, 2024. The price band for the Offer has been determined at ₹201 – ₹221 per equity share.
The IPO will fetch ₹251.19 crore at the upper end of the price band.
Investors can bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
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.
- Top Gainers
- Top Losers
- 52 Week High