The initial public offer of JG Chemicals got subscribed 2.46 times on the first day of subscription on Tuesday.
The Rs 251.2 crore-initial share sale of the zinc oxide manufacturer received bids for 2,00,55,244 shares against 81,68,714 shares on offer, as per NSE data.
The portion for Retail Individual Investors (RIIs) got subscribed 3.62 times while the quota for non institutional investors fetched 2.90 times subscription. The Qualified Institutional Buyers (QIBs) part received 2 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 165 crore and an offer for sale of up to 39 lakh equity shares.
Price range for the offer is Rs 210-221 a share.
JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors.
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
Posts in category Business Standard
Investors subscribe JG Chemicals IPO 2.46 times on first day of bidding (05-03-2024)
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General Motors partners with Wipro to develop a B2B sales platform of embedded automotive software (05-03-2024)
Unlike the traditional captive software development approach, SDVerse focuses on connecting automotive software buyers and sellers through a transparent and efficient digital platform. Sellers can list their software’s
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Banyantree backed Popular Vehicles and Services to launch IPO on March 12 (05-03-2024)
Popular Vehicles and Services Ltd, which is engaged in automotive dealerships, is set to launch its Initial Public Offering (IPO) on March 12.
The initial share sale will conclude on March 14 and the bidding for anchor investors will open for a day on March 11, according to the Red Herring Prospectus (RHP).
The IPO comprises a fresh issuance of equity shares worth Rs 250 crore and an Offer For Sale (OFS) of 1.19 crore equity shares by Banyantree Growth Capital II, LLC.
At present, promoters hold a 69.45 per cent stake in Popular Vehicles and Services and Banyan Tree owns over 30 per cent stake in the company.
Proceeds of the fresh issue will be used for payment of debt and general corporate purposes.
The Kerala-based company is a leading diversified automotive dealership in the country with a presence across the automotive retail value chain, including the sale of new passenger and commercial vehicles, services and repairs, spare parts distribution, sale of pre-owned passenger …
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Poland, with its rich tech talent pool, favorable economic environment, and best-in-class IT infrastructure, emerges as an ideal location for international companies seeking reliable and
highly specialized software houses. Sonata Software plans to make significant investment in the
delivery centre in Poland with an aim to advance its regional capabilities, to offer enhanced
value to its clients by enabling close-to-client service delivery, and to penetrate the European
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TVS Supply Chain Solutions allots 41,400 equity shares under ESOP (05-03-2024)
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Singapore Market falls 0.48% (05-03-2024)
Wall Street closed lower overnight on signs the U.S. Federal Reserve is in no hurry to cut interest rates after hawkish comments from Atlanta Fed President Raphael Bostic that there is no urgency to cut interest rates amid risks inflation stays above the central bank’s 2% target.
ace turtle partners with Shoppers Stop to launch global-khaki brand Dockers in India (05-03-2024)
The Dockers collection at Shoppers Stop features a carefully curated selection of clothing and accessories designed for the modern Indian consumers. From chinos and shirts to sweaters and jackets, each piece
embodies Dockers’ commitment to quality craftsmanship, innovative materials, and timeless design. Whether navigating the urban jungle or exploring uncharted territories, Dockers empowers individuals to
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Market retreats after winning streak: IT, FMCG pull back (05-03-2024)
The domestic stock market closed slightly lower on Tuesday after a four-day winning streak. IT and FMCG stocks led the decline while PSU banks, auto and oil & gas stocks bucked the trend. The Nifty 50 index failed to hold above 22,400. Investors remained cautious due to upcoming events: Federal Reserve Chair’s testimony and key U.S. jobs data. The Chinese National People’s Congress is also being closely monitored as potential economic reforms in China could impact global markets.