J.G. Chemicals Ltd is all set to launch its IPO on March 5, 2024. The Equity shares are valued at Rs 10 each. The price range of the IPO is between Rs 210 and Rs 221 per equity share. The total issue size is around Rs 250 crore at the upper price band.
The market lot size is set at 67 shares for the IPO. Individual retail investors can apply for a maximum of 13 lots, which accounts for 871 shares or a total investment of Rs 1,92,491.
Out of the 250 crores (approx), Rs 165 crore is a fresh issue of shares which is expected to be used for investment in its subsidiary, setting up an R&D centre in Andhra Pradesh and more. The rest 86 crores are for sale. Post this, the holding will dip to 71%.
JG Chemicals is the domestic giant in zinc oxide. Further, the company is eyeing to ramp up the production of superior grades of zinc oxide which are used in skincare and electronics.