Jain Resource Recycling's initial public offering (IPO) has concluded with a robust response from investors, achieving an oversubscription of 15.90 times. The ₹1,250-crore IPO, which ran from September 24 to 26, garnered bids for 49.67 crore shares against the 3.12 crore shares on offer.

Subscription Details

The IPO saw strong demand across various investor categories:

• Qualified Institutional Buyers (QIBs): 25.29 times oversubscribed
• Non-Institutional Investors: 5.30 times oversubscribed
• Retail Segment: 3.62 times oversubscribed

IPO Structure

The public offering comprised two components:

• Fresh Issue: ₹500 crore
• Offer-for-Sale: ₹750 crore

Important Dates for Investors

How to Check Allotment Status

Investors can check their allotment status through the following websites:

1. BSE
2. NSE
3. KFin Technologies (Registrar to the Issue)

Company Profile

Jain Resource Recycling operates in the non-ferrous metal recycling sector. The successful IPO marks a significant milestone for the company as it prepares to enter the public markets.

The strong oversubscription across all investor categories suggests a high level of interest in the company's business model and growth prospects. As the allotment process unfolds, investors who participated in the IPO are advised to check their allotment status on September 29 and prepare for the share credit or refund process on September 30, as applicable.

The company's stock market debut is scheduled for October 1 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Jain Resource Recycling's Initial Public Offering (IPO) has shown promising momentum, achieving a 78% subscription rate by the end of its second day. The company, which specializes in recycling non-ferrous metals, has set out to raise Rs 1,250 crore through this public offering.

Subscription Details

The IPO's performance across different investor categories as of day two:

Offering Structure

• Total Fundraising Goal: Rs 1,250 crore
• Fresh Issue: Rs 500 crore
• Offer-for-Sale: Rs 750 crore

Key IPO Information

• Price Band: Rs 220 - Rs 232 per share
• Minimum Retail Investment: Rs 14,848 for 64 shares
• Closing Date: September 26
• Allotment Date: September 29
• Listing Date: October 1

Company Profile

Jain Resource Recycling is engaged in the recycling of non-ferrous metals, with a focus on producing lead alloy and copper ingots.

Use of Proceeds

The company plans to utilize the funds raised from the fresh issue for:

1. Debt repayment
2. General corporate purposes

Market Sentiment

The grey market premium currently stands at Rs 20, suggesting an estimated listing price of Rs 252. This indicates positive market sentiment towards the IPO.

Investors and market watchers will be closely monitoring the subscription levels as the IPO enters its final day. The allotment process is set to take place on September 29, followed by the listing on major stock exchanges on October 1.

As always, potential investors are advised to carefully review the company's prospectus and consider their financial goals before making any investment decisions.