Kolkata:City based Zinc Oxide manufacturer, JG Chemicals Ltd has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
The company had filed preliminary IPO papers with Sebi on January 4, 2023, a company release confirmed on Tuesday.
The IPO consists of a fresh issue of Rs 202.50 crore and an offer-for-sale of up to 5.7 million equity shares by its existing shareholders and promoters.
The OFS comprises up to 3.64 million equity shares by Vision Projects and Finvest Private Limited, 1.4 lakh equity shares by Jayanti Commercial Limited, 1.27 million equity shares by Suresh Kumar Jhunjhunwala (HUF), and 6.5 lakh equity shares by Anirudh Jhunjhunwalal (HUF).
