Monitoring Agency Report for quarter ended 30.06.2025
JGCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
J.G. Chemicals Limited has filed the Monitoring Agency Report from ICRA Limited tracking the use of its IPO proceeds for the quarter ended June 30, 2025. The IPO (March 2024) had gross issue size of Rs. 251.19 crore, with Rs. 165 crore in fresh issue proceeds and net proceeds of Rs. 149.32 crore. As of June 30, 2025, the company has utilised Rs. 114.63 crore (about 69%) of the gross proceeds, with Rs. 50.38 crore still unutilised and parked in HDFC Bank fixed deposits. Key utilisations include: Rs. 25 crore for subsidiary BDJ Oxides' loan repayment (fully done), Rs. 40 crore of Rs. 60 crore for subsidiary working capital, Rs. 11 crore of Rs. 35 crore for company working capital, Rs. 23.27 crore fully deployed for general corporate purposes (new land procurement), and only Rs. 0.085 crore of Rs. 6.06 crore spent on the R&D Centre so far. ICRA noted that R&D equipment purchases do not align with vendor specifications originally proposed in the prospectus, though the offer document allows management flexibility. No material deviation from stated objects was flagged.
This is a routine SEBI-mandated disclosure and is broadly neutral for the stock. The R&D Centre spend is slow (only 1.4% utilised) with a specification mismatch, which investors may want to track, but overall proceeds are being deployed in line with the stated plan and idle funds are earning ~7% in bank FDs.