So far, the stock has hit a high of 213.75 and a low of 196.10. On the BSE, over 1.95 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of JG Chemicals was subscribed 27.78 times. The issue opened for bidding on 5 March 2024 and it closed on 7 March 2024. The price band of the IPO was fixed at Rs 210 to 221 per share.

The offer comprised fresh issue of equity shares aggregating Rs 165 crore and an offer for sale of up to 39 lakh equity shares.

The company proposed to utilize the net proceeds from the fresh issue to invest in its material subsidiary, BDJ Oxides, amounting to Rs 91.06 crore; funding long-term working capital requirements amounting to Rs 35 crore and the balance for general corporate purposes.

JG Chemical is the largest manufacturer of zinc oxides in India and among the top 10 manufacturers of zinc oxides globally manufacturing through French process the dominant production technology for producing zinc oxide adopted by all the major producers in Americas, Europe and Asia. The market share of the company was around 30% end March 2022.

The company produces more than 80 grades of zinc oxide. The products caters to a wide spectrum of industrial applications, including in the rubber (tyre & other rubber products), ceramics, paints & coatings, pharmaceuticals & cosmetics, electronics & batteries, agrochemicals & fertilizers, speciality chemicals, lubricants, oil &gas and animal feed.

The firm reported a net profit of Rs 18.51 crore and total income of Rs 486.32 crore for the nine months ended on 31 December 2023.