Jain Resource Recycling made a strong debut on the Indian stock exchanges today, with its shares opening at Rs 265.00 on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). This represents a robust 14% premium over the initial public offering (IPO) price of Rs 232.00, reflecting investor enthusiasm for the non-ferrous metals recycling company.

IPO Performance

The company's Rs 1,250.00 crore IPO garnered significant interest from various investor categories:

• Overall subscription: 16.8 times
• Institutional buyers: 27 times oversubscribed
• Non-institutional investors: 5.6 times oversubscribed
• Retail investors: 3.8 times oversubscribed

Prior to the public issue, Jain Resource Recycling successfully raised Rs 562.50 crore from anchor investors, further solidifying its market position.

Company Overview

Jain Resource Recycling operates in the non-ferrous metals recycling sector, focusing on lead, copper, and aluminium. The company's operations include:

• Three facilities near Chennai, India
• A gold refining unit in the United Arab Emirates

The company serves a diverse clientele, including prominent names such as:

• Vedanta
• Luminous Power
• Mitsubishi Corporation
• Nissan Trading

Jain Resource Recycling's global reach extends to exports in key markets like Singapore, China, Japan, and South Korea.

Financial Performance

The company has demonstrated strong financial growth:

Jain Resource Recycling reported an impressive return on equity of nearly 41.00%. However, analysts note that the company's net margin of just over 3.00% is relatively thin considering the scale of its business operations.

The strong market debut and financial performance indicate investor confidence in Jain Resource Recycling's business model and growth prospects. As the company begins its journey in the public markets, stakeholders will be closely watching its ability to maintain growth momentum and potentially improve profit margins in the competitive non-ferrous metals recycling industry.

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).