Mumbai, March 13 -- The scrip was listed at Rs 211, exhibiting a discount of 4.52% to the issue price.

So far, the stock has hit a high of 213.75 and a low of 196.10. On the BSE, over 1.95 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of JG Chemicals was subscribed 27.78 times. The issue opened for bidding on 5 March 2024 and it closed on 7 March 2024. The price band of the IPO was fixed at Rs 210 to 221 per share.

The offer comprised fresh issue of equity shares aggregating Rs 165 crore and an offer for sale of up to 39 lakh equity shares.

The company proposed to utilize the net proceeds from the fresh issue to invest in its material subsidiary, BDJ Oxides, amounting to Rs 91.06 crore; f...