Zinc oxide maker JG Chemicals’ Rs.251-Cr IPO booked 28 times

Business Standard  

The INR 251.2 crore initial public offer (IPO) of Kolkata-based zinc oxide manufacturer JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The IPO received bids for 22,69,11,245 shares against 81,68,714 shares on offer.The portion for non-institutional investors received 46.32 times subscriptions while the quota for Qualified Institutional Buyers (QIBs) subscribed 32.09 times, and the category for retail individual investors (RIIs) attracted 17.43 times subscriptions.The IPO had a fresh issue of INR 165 crore shares and an offer for sale of 39 lakh equity.The IPO was in a price range of INR 210-221 a share. JG Chemicals collected over INR 75 crore from anchor investors.Centrum Capital, Emkay Global Financial Services and Keynote Financial Services are the managers to the offer.

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