JG Chemicals files draft IPO papers with Sebi

The IPO consists of a fresh issue of Rs 202.50 crore and an offer-for-sale of up to 5.70 million shares by its existing shareholders and promoters.

Published: 07th January 2023 07:46 AM  |   Last Updated: 07th January 2023 07:46 AM   |  A+A A-

IPO, initial public offering

Image used for representational purpose only. (File Photo | Express)

By Express News Service

MUMBAI: JG Chemicals has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise funds through an initial public offering.The IPO consists of a fresh issue of Rs 202.50 crore and an offer-for-sale of up to 5.70 million shares by its existing shareholders and promoters.

JG Chemicals, which is India’s largest zinc oxide manufacturer, has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise funds through an Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 202.50 crore and an offer-for-sale (OFS) of 57 lakh equity shares by its existing promoter group shareholders, according to its draft red herring prospectus (DRHP).

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