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JG Chemicals IPO

J.G.Chemicals IPO

  • Status: Closed
  • RHP:
  • ₹ 14,070 / 67 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    13 Mar 2024

  • Listing Price

    ₹211.00

  • Listing Change

    -4.52%

  • Last Traded Price

    ₹431.20

IPO Details

  • Open Date

    05 Mar 2024

  • Close Date

    07 Mar 2024

  • IPO Price Range

    ₹ 210 to ₹ 221

  • IPO Size

    ₹ 251.19 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    13 Mar 2024

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IPO Timeline

J.G.Chemicals IPO Subscription Status

Last Updated: 15 March 2024 10:24 AM by 5Paisa

JG Chemicals Limited IPO is set to open from 5th March to 7th March 2024. The company is the largest manufacturer of zinc oxide in India. The IPO includes a fresh issue of 7,466,063 shares worth ₹165 cr. and an Offer-for-Sale (OFS) of 3,900,000 worth ₹86.19 cr. The total IPO size is ₹251.19 cr. The share allotment date is 11th March 2024, and the IPO will be listed on 13th March 2024 on the stock exchanges. The price band is set at ₹210 to ₹221 and the lot size is 67 shares.   

Centrum Capital Limited, Emkay Global Financial Services Limited and Keynote Financial Services Limited are the book-running lead managers for this IPO, while KFin Technologies Limited is the registrar. 

Objectives of JG Chemicals IPO:

●    To invest in the subsidiary BDJ Oxides for i) repay or prepay full or partial borrowings obtained and ii) working expenditure requirements for setting up the R&D Centre.
●    To fund the working capital requirements for the company and its subsidiary.
●    General Corporate Purposes.

Established in 2001, JG Chemicals Limited is the largest manufacturer of zinc oxide in India in terms of production and revenue. The company produces zinc oxide via the French process. As of March 2022, JG Chemicals had a total market share of 30% and the company sells 80+ grades of zinc oxide. Globally also the company is among the top 10 manufacturers. 

JG Chemicals supplies to 9 out of 10 and all 11 tyre manufacturers globally and in India respectively along with supplying zinc oxide to India’s top paint, footwear and cosmetics companies. Also, BDJ Oxides, which is a subsidiary of JG Chemicals, is India's only company that has an IATF certification.

JG Chemicals, as of December 2023 had a total installed capacity of 77,040 MTPA. Its two manufacturing units are based in Jangalpur and Belur in West Bengal and one is based in Naidupeta, Andhra Pradesh).

Peer Comparison

●    Rajratan Global Wire Limited
●    Nocil Limited
●    Yasho Industries Limited

For More Information:
Webstory on JG Chemicals IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 784.57 612.83 435.29
EBITDA 85.11 66.37 48.60
PAT 56.79 43.12 28.79
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 297.79 264.14 209.93
Share Capital 31.72 1.22 1.22
Total Borrowings 84.26 107.50 90.93
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 31.16 6.75 -7.34
Net cash from / (used in) investing activities -4.89 -5.41 -5.60
Net cash flow from / (used in) financing activities -28.57 -0.19 16.95
Net increase (decrease) in cash and cash equivalents -2.30 1.14 4.00


Strengths

1.    The company has a leading market position with a diversified customer base.
2.    There are high entry barriers in the end industries that the company serves, which means it has leverage as the largest supplier. 
3.    The company has strong and consistent financial performance.
4.    The company has long-established relationships with key customers and suppliers. 
5.    It also focuses on long-term sustainability with environmental initiatives and safety standards.
6.    Skilled and experienced management team.

Risks

1.    A majority of its revenues from operations are derived from its material subsidiary.
2.    The company operates in a competitive industry. 
3.    The company is dependent on the rubber and tyre industry.
4.    It is reliant on overseas suppliers for raw materials.
5.    It has experienced negative cash flows in the past. 
6.    The company is exposed to foreign exchange fluctuation and commodity pricing risks. 
 

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FAQs

JG Chemicals IPO opens from 5th March to 7th March 2024.
 

The size of JG Chemicals IPO is ₹251.19 cr. 
 

To apply for JG Chemicals IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the JG Chemicals IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.
 

The price band of JG Chemicals IPO is set at ₹210 to ₹221 per share.
 

The minimum lot size of JG Chemicals IPO is 67 shares and the minimum investment required to apply for the IPO is ₹14,070.
 

The share allotment date of JG Chemicals IPO is 11th March 2024.
 

The JG Chemicals IPO will be listed on 13th March 2024.
 

Centrum Capital, Emkay Global Financial Services and Keynote Financial Services are the book-running lead managers for JG Chemicals IPO.
 

JG Chemicals will use proceeds for:

●    To invest in the subsidiary BDJ Oxides for i) repay or prepay full or partial borrowings obtained ii) working expenditure requirements for setting up the R&D Centre.
●    To fund the working capital requirements for the company and its subsidiary. 
●    General Corporate Purposes.