How To Check JG Chemicals IPO Allotment Status

The JG Chemicals IPO garnered significant investor interest, with a subscription rate of 27.78 times on the closing day. The JG Chemicals IPO allotment status is set to be finalised today.

If you applied for the IPO, here is how you can check the JG Chemicals IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the JG Chemicals IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "JG Chemicals" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Enter the captcha and click Submit to retrieve the JG Chemicals IPO allotment status

Checking IPO Allotment Status on BSE:

  1. Go to the BSE website.
  2. Click on the ‘Equity' section and select "JG Chemicals" from the dropdown menu.
  3. Enter your application number or PAN.
  4. Click on the ‘Search' button.
  5. The result will show the number of shares allotted to you.

If all the details are entered correctly and the allotment has been finalised, the JG Chemicals IPO allotment status will be visible.

JG Chemicals IPO Subscription Status

Investors bid for a total of 22,69,11,245 shares against the offered 81,68,714 equity shares. The Non-Institutional Investors (NIIs) category witnessed strong demand, with a subscription rate of 46.33 times. Qualified Institutional Buyers (QIBs) also showed significant interest, subscribing 32.09 times. Meanwhile, Retail Individual Investors (RIIs) demonstrated notable participation, with a subscription rate of 17.44 times.

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JG Chemicals IPO Details

The JG Chemicals IPO, with a price band of ₹210-221, comprised a fresh equity issue of 74 lakh shares and an offer for sale of 39 lakh shares. Promoter group shareholders Vision Projects, Jayanti Commercial, Suresh Kumar, and Anirudh Jhunjhunwala will offload part of their stakes in the company through the offer for sale.

The company plans to allocate the net proceeds from the fresh issue in various areas, including investing in its material subsidiary, BDJ Oxides, with an amount of ₹91.06 crore. Additionally, funds will be allocated for funding long-term working capital requirements, totalling ₹35 crore, with the remaining balance earmarked for general corporate purposes.

Before the IPO, on March 4, 2024, JG Chemicals successfully secured ₹75.35 crore from anchor investors. The board allocated 34.09 lakh shares at ₹221 each to four anchor investors as part of this process.

JG Chemicals IPO GMP

The grey market premium (GMP) for the JG Chemicals IPO was reported at ₹32. With the price band of ₹221, JG Chemicals IPO could list at ₹253 and around 14.48% premium.

JG Chemicals Company Details

JG Chemicals holds the distinction of being India's largest zinc oxide manufacturer in terms of production and revenue generated through the French process, the dominant production technology for zinc oxide manufacturing worldwide. With a market share of approximately 30% as of March 2022, the company offers over 80 grades of zinc oxide and ranks among the top ten manufacturers of zinc oxides globally.

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Posted In: NewsIPOsJG Chemicals