J.G. Chemicals Limited, India's largest zinc oxide manufacturer in its Initial Public Offering (IPO) was subscribed 27.78 times on the final day of bidding.
Investor response across segments
The IPO, which included a price band of Rs 210 to Rs 221 and received 22,69,11,245 bids against the offered 81,68,714 equity shares. Non-Institutional Investors and Qualified Institutional Buyers was subscribed 46.32 times and 32.09 times, respectively. Meanwhile, the Retail Portion saw a subscription of 17.43 times.
Key players in the offering
Centrum Capital Limited, Emkay Global Financial Services Limited, and Keynote Financial Services Limited played crucial roles as the book running lead managers in the IPO. KFin Technologies Limited served as the registrar of the offer.
About J.G. Chemicals
J.G. Chemicals Limited, along with its subsidiary, has secured its position as India's largest zinc oxide manufacturer, boasting a 30 per cent market share as of March 2022. Using the French process, a dominant technology globally, the company sells over 80 grades of zinc oxide and ranks among the top ten manufacturers worldwide.
Diverse industrial applications
The company's product portfolio caters to various industrial applications, including rubber, ceramics, paints, pharmaceuticals, electronics, agro-chemicals, and more. With tire industry giants as its major consumers, the company has also made significant inroads into the paints, footwear, and cosmetics sectors in India.
Despite a modest 0.32 per cent CAGR in India's tire production from Fiscals 2017 to 2021, J.G. Chemicals Limited has achieved 13.32 per cent CAGR during the same period.
Listing on BSE and NSE
The equity shares of J.G. Chemicals Limited are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
