Mumbai/Kolkata: J.G. Chemicals Limited has fixed the price band of ₹210/- to ₹221/- per Equity Share of face value ₹10/- each for its maiden initial public offer.
The Initial Public Offering (IPO) of the Company will open on Tuesday, March 5, 2024, for subscription and close on Thursday, March 7, 2024. Investors can bid for a minimum of 67 Equity Shares and in multiples of 67 Equity Shares thereafter.
The issue consists of a fresh issue of equity shares worth Rs 1,650 million and an offer for sale (OFS) of up to 3.90 million equity shares by investor selling shareholders.
Proceeds from the fresh issue to the extent of (A) Rs.910.58 million will be utilised for investing in JG Chemicals’ Material Subsidiary by way of (i) Rs. 600 million for funding its long-term working capital requirements, (ii) Rs 60.58 million for setting up of a research and development centre at Naidupeta, Andhra Pradesh and (iii) Rs 250.00 million for repayment or…