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Category :
IPO
Headline :
J G Chemicals Ltd. debuts with 4.52% discount at Rs 211.00
Date:
14/03/2024 22:50
J G Chemicals Ltd. makes a weak debut on the bourses with scrip got listed at Rs 211.00 on the Bombay Stock Exchange, a 4.52 per cent discount to its issue price of Rs 221.00. On the National Stock Exchange, the stock was listed at Rs 209.00.
The company, which raised 1.14 Cr from initial public offering, was subscribed 20.29 times, receiving bids for 2,306.17 lakhs shares against the total issue size of 113.66 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Mar 05 to Mar 07.
Following a weak opening, the scrip touched an intraday high of Rs 213.75 and a low of Rs 181.20, before closing the session up by 16.44 per cent to its listing price at Rs 184.65 on the BSE.
The company anticipates using the proceeds of the issue for *Repayment or prepayment, in full or in part, of all or certain borrowings availed by our Material Subsidiary*Funding capital expenditure requirements for setting up of a research and development centre situated in Naidupeta, Andhra Pradesh*Funding its longterm working capital requirements Funding longterm working capital requirements of our Company General corporate purposes.
Centrum Capital Limited,Emkay Global Financial Services Ltd.,Keynote Financial Services Limited. as lead managers & KFin Technologies Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 73,097.28, up 335.39 points, or 0.46 per cent.
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