{"id":97784,"date":"2023-03-28T13:51:00","date_gmt":"2023-03-28T08:21:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=97784"},"modified":"2023-03-28T13:49:33","modified_gmt":"2023-03-28T08:19:33","slug":"biz-jg-chemicals","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-jg-chemicals\/","title":{"rendered":"JG Chemicals gets Sebi&#8217;s go-ahead to float IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1197089615\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Zinc oxide manufacturer JG Chemicals has received capital markets regulator Sebi&#8217;s go-ahead to raise funds through an initial public offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-313259106\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red herring prospectus (DRHP).<\/p><p>As a part of the OFS, Vision Projects &amp; Finvest Pvt Ltd will sell 36.40 lakh shares, Suresh Kumar Jhunjhunwala (HUF) will offload 12.70 lakh shares, Anirudh Jhunjhunwala (HUF) will divest 6.50 lakh shares and Jayanti Commercial Ltd will offer 1.40 lakh equity shares.<\/p><p>JG Chemicals, which filed their preliminary IPO papers with Sebi in January, obtained its observation on March 20, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.<\/p><div class=\"trade-content_5\" id=\"trade-2468272332\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In Sebi&#8217;s parlance, its observation implies its go-ahead to float an IPO.&nbsp; &nbsp; &nbsp; Going by the draft papers, the&nbsp; firm may consider a pre-IPO placement of equity shares aggregating to Rs 40 crore or a secondary sale of 28.50 lakh equity shares by its selling shareholders or a combination thereof.<\/p><p>If such placement is undertaken then the fresh issue size or OFS portion will be reduced. Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides.<\/p><p>It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research &amp; Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.<\/p><p>It will also use Rs 35 crore for funding the long-term working capital requirements of the company and other general corporate purposes. The Kolkata-based firm is India&#8217;s largest zinc oxide manufacturer in terms of production and revenue.<\/p><p>It sells over 80 grades of zinc oxide and is among the top ten manufacturers of zinc oxides globally. The tyre industry in India is the largest consumer of its products. The firm also supplies to leading paints manufacturers, footwear players and cosmetics players in the country.<\/p><p>Centrum Capital, Emkay Global Financial Services Ltd and Keynote Financial Services Ltd are the book-running lead managers to the issue.<\/p><div class=\"trade-content-10\" id=\"trade-2160555545\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Equity shares of the company will be listed on BSE and NSE. PTI SP ANU ANU<\/p><div class=\"trade-after-content\" id=\"trade-1833696987\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Zinc oxide manufacturer JG Chemicals has received capital markets regulator Sebi&#8217;s go-ahead to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-97784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JG Chemicals gets Sebi&#039;s go-ahead to float IPO - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Zinc oxide manufacturer JG Chemicals has received capital markets regulator Sebi&#039;s go-ahead to raise funds through an initial public offering (IPO).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=97784\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JG Chemicals gets Sebi&#039;s go-ahead to float IPO\" \/>\n<meta property=\"og:description\" content=\"Zinc oxide manufacturer JG Chemicals has received capital markets regulator Sebi&#039;s go-ahead to raise funds through an initial public offering (IPO).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=97784\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T08:21:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Specialty-Chemical-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Specialty-Chemical-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=97784\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=97784\",\"name\":\"JG Chemicals gets Sebi's go-ahead to float IPO - 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