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JG Chemicals IPO
Price Band
₹210.0–221.0
Issue Size
₹251.19 Cr
Lot Size
67 shares
Min Investment
₹14,807
GMP
+₹5.0 (2.26%)
Issue Price
₹221.0
Subject to Sauda
₹300
Paid only if allotted
JG Chemicals IPO AI Summary
- JG Chemicals IPO is listed on BSE, NSE in the Commodity Chemicals sector.
- Price band: ₹210.0–₹221.0 per share, lot size 67 shares (min. investment ₹14,807).
- Subscription window: 05 Mar–07 Mar 2024, listing on 13 Mar 2024.
- Current GMP is +₹5.0 (2.26%), an estimated listing price of ₹226 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
JG Chemicals IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 07 Mar 2024 — not a current signal.
10 of 13 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
JG Chemicals IPO Grey Market Premium (GMP) Today
GMP
+₹5.0
GMP %
+2.26%
Est. Listing
₹226.0
Updated: 25 Jul 2026 14:06
About the Company
JG Chemicals Limited was founded in 1975 and is a zinc oxide manufacturer using the French process. The company produces more than 80 grades of zinc oxide. This product is used in various industrial applications such as ceramics, paints and coatings, pharmaceuticals and cosmetics, electronics and batteries, agrochemicals and fertilizers, specialty chemicals, lubricants, oil and gas, and animal feed. The company operates three manufacturing facilities in Jangalpur and Belur, both in Kolkata, West Bengal and Naidupeta in Nellore District, Andhra Pradesh. Naidupeta is the largest facility, owned and operated by the Material subsidiary. All manufacturing facilities are ISO 45001:2018 and ISO 14001:2015 certified and ISO 9001:2015 accredited. The company has served the needs of more than 200 local and 50 international customers in more than 10 countries. As of December 31, 2023, the company employed 112 permanent employees, over 100 workers and apprentices. For the nine-month period ended December 31, 2023 and the financial years 2023, 2022 and 2021, the Company recorded operating income of ₹ 4,863.22 million, ₹ 7,845.76 million, ₹ 6,128.30 million and ₹ 4,352.98 million respectively.
Company Financials (₹ Cr)
As of 2022-03-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 271.26 | 297.79 | 264.14 | 209.94 |
| Total Income | 491.10 | 794.19 | 623.05 | 440.41 |
| Profit After Tax | 18.51 | 56.79 | 43.13 | 28.80 |
| NET Worth | 217.86 | 199.89 | 147.66 | 108.48 |
| Reserves and Surplus | 193.22 | 175.67 | 151.23 | 107.17 |
Key Ratios
EPS
₹13.60
NAV
₹68.68
ROE
8.20%
ROCE
11.86 %
RoNW
8.16%
P/B Value
3.51
P/E Ratio
16.25
Market Cap
₹866.01 Cr
PAT Margin
7.24%
Debt/Equity
0.11
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Yasho Industries Ltd | 208.75 | 28.52% | 30.03 | 59.54 | 59.54 |
| Nocil Ltd. | 93.14 | 9.61% | 30.97 | 8.95 | 8.92 |
| Rajratan Global Wire Ltd. | 86.54 | 22.79% | 33.43 | 19.72 | 19.72 |
| JG Chemicals Limited This IPO | 63.02 | 27.49% | — | — | — |
Promoters
Suresh Jhunjhunwala, Anirudh Jhunjhunwala and Anuj Jhunjhunwala
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment or pre-payment, in full or in part, of all or certain borrowings availed by our Material Subsidiary; 25.00 2 Funding capital expenditure requirements for setting up of R&D Centre 6.06 3 Funding its long-term working capital requirements 60.00 4 Funding long-term working capital requirements of our Company 35.00 5 General corporate purposes 23.27
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
For the nine-month period ended December 31, 2023, the company reported total income of ₹491.10 Cr, which is a decrease from ₹794.19 Cr for the full year ending March 31, 2023. In the previous fiscal year, the total income was ₹623.05 Cr for the year ending March 31, 2022, and ₹440.41 Cr for the year ending March 31, 2021. This indicates a fluctuating revenue trend over the past few years.
Profit Trend
The profit after tax for the nine-month period ending December 31, 2023, was ₹18.51 Cr, which is lower than ₹56.79 Cr reported for the full year ending March 31, 2023. In the previous years, the profit after tax was ₹43.13 Cr for the year ending March 31, 2022, and ₹28.80 Cr for the year ending March 31, 2021. This shows a variable profit trend, with a significant drop in the latest period, though the December figure is not directly comparable as it represents only nine months.
Valuation
At the issue price of ₹221.0, JG Chemicals has an implied P/E ratio of 16.25 based on its earnings per share (EPS) of ₹13.60. This is compared to its peers, which have P/E ratios ranging from 30.03 to 33.43.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium at which an IPO might list compared to its issue price. A positive GMP suggests that the market anticipates a higher listing price, while a negative GMP indicates the opposite. GMP is often used by investors to gauge market sentiment towards an IPO before it officially lists.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. Factors such as the company's market position, financial health, and growth prospects are important to consider.
Who May Want to Wait
Investors with a low risk appetite or those who prefer stable, established companies may want to avoid IPOs like this, especially if they are concerned about potential fluctuations in performance or market conditions.
Listing Gains — The Risk
Listing day gains are not guaranteed and can be influenced by various factors including market conditions, investor sentiment, and the company's performance. Investors should be aware that while some IPOs may see significant gains on their first day of trading, others may not perform as expected, leading to potential losses.
This evaluation is generated from JG Chemicals's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is JG Chemicals IPO GMP today?
JG Chemicals IPO GMP today is +₹5.0 (2.26%), indicating an estimated listing price of ₹226. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of JG Chemicals IPO?
The price band of JG Chemicals IPO is ₹210.0–₹221.0 per share.
When does JG Chemicals IPO open and close?
JG Chemicals IPO opens on 05 March 2024 and closes on 07 March 2024.
When does JG Chemicals IPO list on the stock exchange?
JG Chemicals IPO listed on 13 March 2024 at ₹226.0.
What is the lot size for JG Chemicals IPO?
The lot size for JG Chemicals IPO is 67 shares, requiring a minimum investment of ₹14,807.
What is the lot size for the JG Chemicals IPO?
The lot size for the JG Chemicals IPO is 67 shares.
What is the minimum investment required for the JG Chemicals IPO?
The minimum investment required is ₹14,807.
What is the price band for the JG Chemicals IPO?
The price band for the JG Chemicals IPO is between ₹210.0 and ₹221.0.
When is the listing date for JG Chemicals?
The listing date for JG Chemicals is March 13, 2024.
What does GMP mean in the context of IPOs?
GMP stands for Grey Market Premium, which reflects the expected premium at which the IPO is anticipated to list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
05 Mar 2024
Close
07 Mar 2024
Allotment
11 Mar 2024
Listing
13 Mar 2024
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