Zinc oxide manufacturer JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors, a day before its initial public offering (IPO).
The company has allotted 34.09 lakh shares to four funds at Rs 221 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE’s website.
At this price, the company has garnered Rs 75.36 crore from anchor investors.
Massachusetts Institute of Technology, Carnelian Structural Fund, Pinebridge Global Funds and SBI General Insurance Company were among the anchor investors.
The initial share sale, with a price band of Rs 210-221 apiece, will open for public subscription during March 5-7.
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 .
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