J.G. Chemicals IPO
J.G. Chemicals IPO — date, price band, lot size & details 2024
J.G. Chemicals listed on 13 Mar 2024 at ₹209, 5.4% below the ₹221 issue price.
J.G. Chemicals is India's largest zinc oxide maker by production and revenue using the French process, selling over 80 grades. Its total income was Rs 794.19 crore in FY2023.
Stock price
J.G. Chemicals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 05 Mar 2024
- Close 07 Mar 2024
- Allotment 11 Mar 2024
- Refund/credit 12 Mar 2024
- Listing 13 Mar 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 5 to 7 Mar, 2024 |
|---|---|
| Price Band | ₹210 – ₹221 |
| Face Value | ₹10 |
| Lot Size | 67 Shares |
| Issue Size | ₹251.19 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,807 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 67 shares at the ₹221 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 67 | ₹14,807 |
| Retail (max) | 13 | 871 | ₹1,92,491 |
| S-HNI (min) | 14 | 938 | ₹2,07,298 |
| S-HNI (max) | 67 | 4,489 | ₹9,92,069 |
| B-HNI (min) | 68 | 4,556 | ₹10,06,876 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 440.41 crore in FY2021 to Rs 794.19 crore in FY2023.
- 02Profit after tax rose from Rs 28.80 crore in FY2021 to Rs 56.79 crore in FY2023.
- 03It is India's largest zinc oxide maker and sells over 80 grades.
- 04The pre-issue P/E was 16.25 at the upper band of Rs 221, based on EPS of Rs 13.60.
- 05Net worth grew from Rs 108.48 crore on 31 March 2021 to Rs 217.86 crore on 31 December 2023.
Risks · 5
- 01Profit fell to Rs 18.51 crore in the nine months to 31 December 2023, below the FY2023 pace.
- 02Zinc prices drive costs, and the source puts the PAT margin at 7.24%.
- 03Demand depends heavily on the tyre and rubber sector and other industrial users, and income rose only from Rs 623.05 crore in FY2022.
- 04Rs 86.19 crore of the issue was offer for sale by the promoter group.
- 05Promoters and the promoter group held 100% before the issue and 70.99% after it.
Three years of numbers
All figures in ₹ crore, as reported in the J.G. Chemicals offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 271.26 | 297.79 | 264.14 | 209.94 |
| Total Income | 491.10 | 794.19 | 623.05 | 440.41 |
| Profit After Tax | 18.51 | 56.79 | 43.13 | 28.80 |
| NET Worth | 217.86 | 199.89 | 147.66 | 108.48 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the J.G. Chemicals RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
J.G. Chemicals IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹13.60 | ₹11.01 |
| P/E Ratio (x) | 16.25 | 20.08 |
| Market Cap at Offer Price (₹ Cr) | ₹300.79 | ₹371.54 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹221 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹149.33 Cr of the issue is earmarked to named objects.
About the company
It sells over 80 grades of zinc oxide, used in ceramics, paints and coatings, pharmaceuticals and cosmetics, electronics and batteries, agrochemicals and fertilisers, speciality chemicals, lubricants, oil and gas, and animal feed.
It runs three manufacturing facilities, at Jangalpur and Belur in West Bengal and at Naidupeta in Andhra Pradesh, the largest, run by its material subsidiary.
The IPO was Rs 251.19 crore, with Rs 165.00 crore of fresh issue and Rs 86.19 crore of offer for sale by promoter group members. Fresh money was planned for working capital at the company and its subsidiary, repaying subsidiary debt and an R&D centre.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
J.G. Chemicals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Centrum Capital Ltd.
4 issues handledBest listing: Pranav Constructions (+33.1%). Weakest: Waterways Leisure Tourism (-14.6%).
Keynote Financial Services
4 issues handledBest listing: Nova AgriTech (+34.1%). Weakest: Amir Chand Jagdish Kumar (Exports) (-5.7%).
Emkay Global Financial Services
8 issues handledBest listing: Behari Lal Engineering (+63.2%). Weakest: Innovision (-14.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of J.G. Chemicals?
The current Grey Market Premium is ₹7, or 3% over the issue price.
What is the J.G. Chemicals IPO price band?
₹210 to ₹221, on a face value of ₹10.
When is the allotment?
The basis of allotment is 11 March 2024, with listing on 13 March 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
