Zinc oxide supplier JG Chemicals Ltd has set the cost band at Rs 210-221 a share for its public offer opening for registration on March 5.
The anchor bidding process will certainly be open on March 4 and the concern will close on 7th. Basis of allotment will certainly get on March 11 and shares will be attributed to demat account on 12th. The shares will certainly be provided on exchanges on March 13.
The IPO, which is a mix of fresh shares of Rs 165 crore by the firm and an offer-for-sale (OFS) of 39 lakh equity shares by promoters.
On the upper band rate, the overall problem size of the IPO will be Rs 251.19 crore and the post-issue market funding of the company is estimated at Rs 860 crore.
Vision Projects & Finvest, Jayanti Commercial, Suresh Kumar Jhunjhunwala (HUF) and Anirudh Jhunjhunwala (HUF), the part of promoter group, will certainly be offering investors in the OFS.
The West Bengal-based company will certainly spend Rs 91.06 crore of the internet fresh issue proceeds in its product subsidiary BDJ Oxides and spend Rs 35 crore for lasting working capital needs. Further, the balance fresh issue cash will be alloted for basic corporate purpose.
JG Chemicals declared to be India’s largest zinc oxide producer in terms of production and income for zinc oxide producing with French procedure. Its items are used in a number of markets such as tire & other rubber items, ceramics, paints and coatings, pharmaceuticals and cosmetics, electronic devices and batteries, agro-chemicals and fertilizers, speciality chemicals, lubricants, oil and gas, and animal feed.
The Suresh Jhunjhunwala, Anirudh Jhunjhunwala and Anuj Jhunjhunwala-promoted business taped a consolidated net revenue of Rs 56.8 crore for the year ended March FY23, expanding 31.7 percent over the previous year, with revenue from procedures increasing 28 percent to Rs 784.6 crore.
Its EBITDA (profits before rate of interest, tax obligation, devaluation and amortisation) for the year expanded by 34.4 percent to Rs 75.5 crore with margin expansion of 40 bps at 9.6 percent compared to the previous financial year.
The business’s combined internet revenue for 9 months finished December FY24 stood at Rs 18.5 crore on an income of Rs 486.32 crore.
Centrum Funding, Emkay Global Financial Providers, and Keynote Financial Services are acting as the vendor lenders to the issue.