JG Chemicals IPO oversubscribed: GMP, subscription status to review

The initial public offering (IPO) of JG Chemicals Limited has opened today. The public issue will remain open till 7th March 2024.

This means the initial public offer will be available for subscription from Tuesday to Thursday this week.

The Zinc Oxide maker company has fixed the JG Chemicals IPO price band at ₹210 to ₹221 per equity share. 

The book build issue is proposed for listing on BSE and NSE. 

The company aims to raise ₹251.19 crore out of which ₹165 crore is aimed through the issuance of fresh shares while the rest ₹86.19 crore is reserved for the Offer for Sale (OFS) route. 

So, the public issue is a mix of fresh shares and OFS. Meanwhile, ahead of the JG Chemicals IPO subscription opening, shares of the Zic Oxide manufacturer company are available for trade in the grey market. 

According to the stock market observers, JG Chemicals IPO GMP (grey market premium) today is ₹52. 

Ahead of the issue opening, the company announced that it has raised ₹75.35 crore from anchor investors.