JG Chemicals’ shares fall over 5%

New Delhi: Shares of JG Chemicals Ltd on Wednesday listed with a discount of over 5 per cent against the issue price of Rs221. The stock made its debut at Rs211, lower 4.52 per cent, from the issue price on the BSE. Later, it tanked 11.26 per cent to Rs196.10. At the NSE, shares of the company listed at Rs209 with a discount of 5.42 per cent.

The company’s market valuation stood at Rs772.16 crore. In the broader equity market, the 30-share BSE Sensex traded marginally higher by 17.24 points at 73,685.20, while the Nifty quoted 33.80 points lower at 22,303.50. The Initial Public Offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs251.2 crore IPO was in a price range of Rs210-221 a share.