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JG Chemicals’ Rs 251-crore IPO to open on March 5

Zinc oxide manufacturer JG Chemicals on Thursday fixed a price band of Rs 210-221 apiece for its Rs 251-crore Initial Public Offering (IPO).The initial share sale will open for public subscription during March 5-7 and the bidding for anchor investors will open for a day on March 4, the company said. The Rs 251.2-crore IPO comprises a fresh issue of equity shares worth up to Rs 165 crore and an Offer For Sale (OFS) of 39 lakh equity shares aggregating to Rs 86.2 crore, at the upper end of the price band, by the promoter group.

As part of the OFS, Vision Projects & Finvest Pvt Ltd, Suresh Kumar Jhunjhunwala (HUF), Anirudh Jhunjhunwala (HUF) and Jayanti Commercial Ltd will offload equity shares. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals’ material subsidiary BDJ Oxides and Rs 35 crore will be used for funding the long-term working capital requirements of the company, besides, a portion will be used for general corporate purposes.

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The Kolkata-based firm is India’s largest zinc oxide manufacturer in terms of production and revenue. 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 product.

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The firm also supplies to leading paints manufacturers, footwear players, and cosmetics players in the country. Half of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 35 per cent for retail investors.

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Investors can bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter. Centrum Capital Ltd, Emkay Global Financial Services Ltd, and Keynote Financial Services Ltd are the book-running lead managers to the issue. The equity shares of the company are proposed to be listed on both BSE and NSE.

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Every Metroidvania Should Steal This Prince Of Persia- The Lost Crown Feature

Prince of Persia: The Lost Crown marks a bold reinvention for the series as a modern, AAA metroidvania. As the series’ first attempt at the genre, it packs some smart new ideas, including some that other exploration-based games should learn from. Chief among these is Memory Shards, an elegantly simple idea that could (and should) be a game-changer for the genre.

In the Lost Crown, Memory Shards are a limited but reusable resource that assigns a single button press to taking a screenshot and pinning it to your map Come from Sports betting site VPbet . Those who have played metroidvania games like Castlevania: Symphony of the Night or Metroid Dread know that a core part of the genre revolves around unlocking new abilities and then going back to previously explored areas to reach places you couldn’t before. Memory Shards are an easy, intuitive way to keep track of doors you can’t unloc…

Global trends, crude oil prices, Q2 earnings to drive mkts in holiday-shortened week- Analysts

Domestic equity markets will be driven mainly by quarterly earnings, global trends, and the movement in crude oil prices in this holiday-shortened week, analysts said. Investors would also keep an eye on the Middle East amid the ongoing Hamas-Israel conflict and the trading activity of foreign investors. Markets will remain closed on Tuesday for Dussehra. “Global markets are currently fragile due to heightened attention on the rising US bond yield, global economic uncertainty, and also the geopolitical situation. These factors will be closely monitored, as they have the potential to influence market sentiment.

“Market participants will be closely watching the movement of the rupee against the dollar and crude oil prices, as well as investments by foreign institutional investors (FIIs) and domestic institutional investors (DIIs), during the results season,” Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said. Markets may face volatile…

Mandatory ASBA likely in secondary market

The board of the Securities and Exchange Board of India (Sebi) may soon consider making application supported by blocked amount (ASBA) mandatory for at least qualified stock brokers (QSBs) in the secondary market, its chairperson Madhabi Puri Buch said. It is currently optional for brokers to provide this facility to investors in the secondary market, though it is mandatory in the primary market.

ASBA is an application containing an authorisation to block application money in the bank account, for subscribing to an IPO issue Come from Sports betting site VPbet . The money blocked cannot be used for any purpose, but account holder continues to earn interest on it. “We should take it to our board. We believe in glidepath. We will give market enough time to adjust. It has been optional for some time,” Buch said. “We might make a proposal to mandate qualified brokers to offer the A…

Mehta Equities’ stocks recommendation of the day_1

By Riyank Arora

On Wednesday, the benchmark indices gave a good breakout above the 19,550 marks. The Nifty ended 231 points higher while the Sensex was up by 742 points. Among Sectors, almost all the major sectoral indices witnessed good buying interest, with Nifty Reality and Nifty IT being the leaders ending up by 2.95% and 2.59% for the day respectively.  Technically, post a strong opening the market successfully managed to close above the 19,550 mark. Any pull-back towards 19,650 now should be a good buying opportunity, the next up-move and push the upside towards 19,800 and a weekly close above 19800 should trigger the next up-move towards the 20,000 mark. Immediate Support is looking to be around 19,625 below which downside can extend towards 19,600 and 19,550.

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Markets takes a break after three days rally; Nifty closes near 20,900 top gainers on December 7 include Adani Ports, Power Grid, Ultra Tech Cement whereas Consumer Durables and Media stocks among key losers

The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 dropped 36.55 points or 0.17% to settle at 20,901.15, while the BSE Sensex slips 132.04 points or 0.19% to 69,521.69. Bank Nifty index ended flat slight up 6.85 points or 0.01% to settle at 46,841.40.

The broader indices ended in mixed, with fall led by Largecap and smallcap stocks. FMCG and Metal stocks outperformed among the other sectoral indices while Consumer Durables, and Media stocks shed.

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Adani Ports and SEZ, Power Grid corporation, Ultra Tech Cement, CIPLA and NTPC were the top gainers on the NSE Nifty 50, while the laggards include Bharti Airtle, Hindustan Unilever, Apollo Hospitals, ONGC and Tata Steel.

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Bajaj Auto’s Rs 4,000 crore share buyback starts from March 06; Here is all you need to know

Automotive manufacturer Bajaj Auto is set to commence its Rs 4,000-crore share buyback program on March 6. The Bajaj Group company plans to repurchase 40 lakh shares with a face value of Rs 10 each, constituting approximately 1.41% of the total outstanding shares. 

The buyback price is fixed at Rs 10,000 per share. The announcement of this buyback plan was made in January 2024, employing the tender offer route on a proportionate basis.

The buyback period extends until March 13 and is notably at a significant premium to the current market levels, which stand at Rs 8,299.60 on NSE. During today’s morning trade, the stock price saw a 1% increase, reaching Rs 8,488.

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