Zinc oxide manufacturer JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors, a day before its initial public offering. The company has allotted 34.09 lakh shares to four funds at Rs 221 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.At this price, the company has garnered Rs 75.36 crore from anchor investors.Massachusetts Institute of Technology, Carnelian Structural Fund, Pinebridge Global Funds and SBI General Insurance Company were among the anchor investors.The initial share sale, with a price band of Rs 210-221 apiece, will open for public subscription during March 5-7.The Rs 251.2 crore IPO comprises a fresh issue of equity shares worth up to Rs 165 crore and an offer-for-sale of 39 lakh equity shares aggregating to Rs 86.2 crore, at the upper end of the price band, by the promoter group.As part of the OFS, Vision Projects & Finvest Pvt Ltd, Suresh Kumar Jhunjhunwala (HUF), Anirudh Jhunjhunwala (HUF) and Jayanti Commercial Ltd will offload equity shares.Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides and Rs 35 crore will be used for funding the long-term working capital requirements of the company, besides, a portion will be used for general corporate purposes.The Kolkata-based firm is India's largest zinc oxide manufacturer in terms of production and revenue. It sells over 80 grades of zinc oxide and is among the top ten manufacturers of zinc oxides globally.The tyre industry in India is the largest consumer of its product. The firm also supplies to leading paints manufacturers, footwear players and cosmetics players in the country.Half of the issue size has been reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 35% for retail investors.Investors can bid for a minimum of 67 equity shares and in multiples of 67 equity shares thereafter.Centrum Capital Ltd, Emkay Global Financial Services Ltd and Keynote Financial Services Ltd are the book-running lead managers to the issue.The equity shares of the company are proposed to be listed on both BSE and NSE.