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JG Chemicals Stumbles on Debut: Opens at 5% Discount Amidst High Demand!

JG Chemicals' shares opened weakly, at ₹209 on NSE and ₹211 on BSE, falling 5.43% and 4.52% respectively from the ₹221 issue price, amidst high subscription interest.
JG Chemicals Debuts at 5 percent Discount

JG Chemicals’ initial stock performance was underwhelming, starting at ₹209 on NSE, 5.43% below the ₹221 issue price, and ₹211 on BSE, 4.52% less, reflecting a cautious market reception despite robust subscription interest.

JG Chemicals’ IPO saw strong demand, especially from retail and non-institutional investors, with final day subscriptions at 27.78x overall, 17.44x for retail, 46.33x for NIIs, and 32.09x for QIBs, as per BSE data.

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JG Chemicals Limited is India’s foremost zinc oxide manufacturer using the dominant French process, boasting a 30% market share. With a legacy spanning four decades, the company offers over 80 grades of zinc oxide and serves diverse industries globally, including tyres, ceramics, rubber, paints, cosmetics, and batteries, with a strong focus on the tyre sector.

JG Chemicals Ltd IPO aims to allocate INR 91.05 crores to subsidiary BDJ Oxides for loan repayment, R&D centre setup, and long-term working capital. Additionally, INR 35 crores will support the company’s own working capital needs.

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