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JG Chemicals gets Sebi’s nod to launch BSE, NSE IPO to raise ₹202.5 cr via OFS


JG Chemicals IPO:

The Securities and Exchange Board of India (SEBI), the capital markets regulator, has given JG Chemicals Ltd, a Kolkata-based manufacturer of zinc oxide, its final recommendation to conduct an initial public offering (IPO) to raise funds. On January 4, 2023, the company had submitted preliminary IPO documents to SEBI. The initial public offering (IPO) includes a new issuance of 202.50 crore and an offer to sell 5.7 million equity shares by the company’s current shareholders and promoters.

3.64 million equity shares are held by Vision Projects and Finvest Private Limited, 1.4 million by Jayanti Commercial Limited, 1.27 million by Suresh Kumar Jhunjhunwala (HUF), and 6.5 million by Anirudh Jhunjhunwala (HUF) in the OFS.

In consultation with merchant bankers, the company may think about a private placement of up to Rs for the issue. 40 crores or optional deal by selling 28,50,000 value offers or blend thereof to investors. The new issue will be smaller if this placement is completed.

jg chemicals ipo net income

The new issue’s proceeds will be invested in its physical arm, BDJ Oxides. The company will use 45 crores to repay the loan, 5.31 crores to establish a R&D center, 65 crores to meet its subsidiary’s long-term working capital requirements, and 35 crores for general corporate purposes.

JG Chemicals Limited, founded in 2001 by Suresh Jhunjhunwala, is India’s largest manufacturer of zinc oxide in terms of revenue and production. It has sold its product to more than 200 domestic customers and more than 50 international customers in more than ten countries over the past three years, with the tire industry being the largest consumer.

According to the CARE report, it supplies nine of the top ten tire manufacturers worldwide and all eleven of the top ten tire manufacturers in India, as well as leading Indian manufacturers of paint, footwear, and cosmetics.

The only zinc oxide manufacturing facility in India with IATF certification is BDJ Oxides, a material subsidiary of the company. Tire manufacturers that supply OEMs prefer this facility.

JG Chemicals Financial

The business reported revenue of 612.83 crores for FY22, up from 435.30 crores a year earlier. The period’s net profit was 43.13 crore, up from 28.80 crore the previous year.

For the six months ended September 30, 2022, revenue from operations was 425.07 crore, and the company made a net profit of Rs. 35.71 cr.

The issue’s book-running lead managers are Centrum Capital Limited, MK Global Financial Services Limited, and Keynote Financial Services Limited. Know your inner investor: Do you have steely nerves or sleepless nights when it comes to investing? Let’s define your approach to investing.


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