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JG Chemicals gets SEBI's approval to float IPO

28 Mar 2023 Evaluate

JG Chemicals has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders. Equity shares of the company will be listed on BSE and NSE.

The company, which filed the draft red herring prospectus with the SEBI in January 2023, got the regulator’s approval on March 20, 2023. Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm. It will also use Rs 35 crore for funding the long-term working capital requirements of the company and other general corporate purposes. Centrum Capital, Emkay Global Financial Services and Keynote Financial Services are the book-running lead managers to the issue.

The Kolkata-based firm is India's largest zinc oxide manufacturer in terms of production and revenue.


JG Chemicals Share Price

380.05 5.70 (1.52%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
BASF India 3703.10
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SRF 2493.65
Pidilite Inds. 1393.25
Deepak Nitrite 1538.00
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