The bidding for JG Chemicals Limited’s initial public offering (IPO) concluded on March 7, 2024, and investors are now awaiting the allotment status, which is anticipated to be announced today. Following the T+3 listing rule implemented on December 1, 2023, the IPO is expected to be listed on the stock exchanges on March 13, 2024, which is the third working day after the bidding period ended.
Despite strong interest from primary market investors during the three-day bidding window from March 5 to March 7, 2024, sentiments in the grey market have declined. As of today, shares of JG Chemicals Limited are trading at a premium of ₹22 in the grey market, down from ₹30 reported on Thursday.
The IPO received a subscription of 27.78 times, with non-institutional investors and qualified institutional buyers subscribing 46.32 times and 32.09 times, respectively. The retail portion saw a subscription of 17.43 times.
Investors can check the IPO allotment status online through the BSE website or the KFin Technologies website. Additionally, a direct link is available for convenience on both platforms.
To check one’s JG Chemicals IPO allotment status online, a bidder can log in at the direct KFin Tech link — kosmic.kfintech.com/ipostatus and follow the below-mentioned step-by-step guide:
1] Click at the direct KFintech link — kosmic.kfintech.com/ipostatus;
2] Select JG Chemicals Limited;
3] Choose the Application Number/Demat Account/PAN option. Here we are choosing the Application Number;
4] Enter Captcha; and
5] Click on the ‘SUBMIT’ option.
As per the T+3 listing rule, the IPO is expected to be listed on March 13, 2024, providing investors an opportunity to trade the shares on the stock exchanges.
