J.G Chemicals Ltd IPO
Everything about J.G Chemicals Ltd IPO!
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Everything about J.G Chemicals Ltd IPO!
Overview of J.G Chemicals Ltd IPO
IPO Date
5-Mar-2024 to 7-Mar-2024
Face Value
₹10
Price Band
₹210 to ₹221
Lot Size
67 Share
Issue Size
11,366,063 shares (aggregating up to ₹251.19 Cr)
Listing At
BSE,NSE
Basis of Allotment
11-Mar-2024
Initiation of Refunds
12-Mar-2024
Credit of Shares to Demat
12-Mar-2024
Listing Date
13-Mar-2024
Cut off time for UPI Mandate
7-Mar-2024
Objective of J.G Chemicals Ltd IPO
The net proceeds from the issuance of 74,66,063 Equity Shares (worth Rs 165 crs) will be utilized to for repayment of certain borrowings in the books of the subsidiary (Rs ~25 Crs), funding capital expenditure requirements for setting up of R&D Centre (Rs 6 crs), funding long term working capital requirements (~Rs 95 crs), and the rest is for General corporate Purpose. (~39 crs)
J.G Chemicals Limited is a Mainboard IPO with a book-built issue of Rs. 251 crores, with fresh issuance of ~0.74 crore shares. The IPO will open from 5th March to 7th March 2024, allotment is expected to be done on 11th March, and it will be listed on BSE and NSE on 13th March 2024. The price band is ₹210 to ₹221 per share, with a minimum lot size of 67 shares, and a minimum investment amount of ₹14,807. The book-running lead managers are Centrum Capital, Emkay Global Financial Services, and Keynote Financial Services while Kfin Technologies is the registrar for the issue.
About J.G Chemicals Ltd IPO
J G Chemicals is India’s largest Zinc Oxide manufacturer and among the top 10 manufacturers globally, enjoying a 30% market share in the domestic market. The company has three manufacturing facilities currently (two in Kolkata and one in Andhra Pradesh) with a total manufacturing capacity of 77,040 MTPA. The key end-user industry for the company is the tyre manufacturing sector and it supplies to all the tyre manufacturers in India and to the top 9 out of 10 manufacturers internationally.
J.G Chemicals Ltd IPO Financials
Particulars (in Cr) | 9MFY24 | FY23 | FY22 | FY21 |
---|---|---|---|---|
Total Revenue Annual | 486 | 785 | 613 | 435 |
Operating Expenses Annual | 458 | 709 | 557 | 392 |
Operating Profit Annual | 28 | 76 | 56 | 43 |
Depreciation | 3 | 3 | 3 | 2 |
Interest Annual | 3 | 5 | 6 | 5 |
Tax Annual | 6 | 20 | 14 | 12 |
Net Profit Annual | 19 | 57 | 43 | 29 |
Total Share Holder Funds | 226 | 208 | 153 | 108 |
Fixed Asset Annual | 38 | 35 | 22 | 22 |
Total Non Current Asset | 12 | 6 | 18 | 12 |
Total Current Asset | 221 | 256 | 224 | 176 |
Total Asset Annual | 271 | 298 | 264 | 210 |
Book Value Per Share | 58 | 53 | ₹ 39 | ₹ 28 |
ROE | 8.2% | 30.5% | 30.6% | 24.2% |
ROCE | 11.9% | 29.4% | 25.8% | 25.3% |
Total Debt To Total Equity | 0.1 | 0.3 | 0.6 | 0.7 |
EBIDTA | 5.8 | 9.6 | 9.2 | 10.0 |
Cash From Operating | 67 | 31 | 7 | -7 |
Cash From Investing | -15 | -5 | -5 | -6 |
Cash From Finance | -48 | -29 | 0 | 17 |
Net Cash Flow | 4 | -2 | 1 | 4 |
Promoter's Holding
Total Share Capital
-
Offered to Public
-
Promoter’s Holding(Pre-Issue)
100.00%
Promoter’s Holding(Post-Issue)
-
The following points should be kept in mind:
J G Chemicals, like any business, has its strengths and challenges. The business is heavily dependent on the international markets for sourcing its raw materials (~75% raw materials imported). The business also faces business concentration risk due to 10 customers contributing to ~77% of the revenues as on 9MFY24.
JG Chemicals IPO is a main-board IPO of 11,366,063 equity shares of the face value of ₹10 aggregating up to ₹251.19 Crores. The issue is priced at ₹210 to ₹221 per share. The minimum order quantity is 67 Shares.
The IPO opens on March 5, 2024, and closes on March 7, 2024.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The JG Chemicals IPO opens on March 5, 2024 and closes on March 7, 2024.
JG Chemicals IPO lot size is 67 Shares, and the minimum amount required is ₹14,807.
The finalization of Basis of Allotment for JG Chemicals IPO will be done on Monday, March 11, 2024, and the allotted shares will be credited to your demat account by Tuesday, March 12, 2024.
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