Jain Resources Recycling Ltd., a prominent player in the non-ferrous metals recycling sector, has successfully raised Rs 562.5 crore from anchor investors, setting the stage for its upcoming initial public offering (IPO). The company allotted 2.42 crore shares to 40 anchor investors at Rs 232 per share, demonstrating strong institutional interest in the offering.

Anchor Investment Highlights

The anchor book saw participation from several high-profile investors:

• Goldman Sachs India Equity Portfolio secured the highest allocation at 10.67%
• Axis Mutual Fund followed with a 9.60% allocation
• HDFC Manufacturing Fund received an 8.89% share

Notably, five domestic mutual funds, through 14 schemes, collectively secured 34.49% of the anchor portion, indicating significant interest from the Indian fund management industry.

IPO Details

Jain Resources Recycling is set to launch its three-day IPO with the following key details:

The company plans to utilize the proceeds from the fresh issue for debt repayment and general corporate purposes, which could potentially strengthen its financial position and support future growth initiatives.

Financial Performance

Jain Resources Recycling has demonstrated strong financial performance:

These figures underscore the company's robust growth trajectory and operational efficiency in the non-ferrous metals recycling sector.

Industry Outlook

As a key player in the non-ferrous metals recycling industry, Jain Resources Recycling is well-positioned to capitalize on the growing emphasis on sustainable practices and circular economy principles. The strong investor interest in the anchor book suggests confidence in the company's business model and growth prospects.

The successful anchor investment round and the upcoming IPO mark a significant milestone for Jain Resources Recycling. As the company prepares to list on the stock exchanges, investors and industry observers will be keenly watching its performance and future strategies in the dynamic metals recycling market.

Jain Resource Recycling Ltd., a prominent player in the non-ferrous metals recycling industry, is set to launch its Initial Public Offering (IPO) on September 24. The company aims to raise Rs 1,250.00 crore through this public issue, which will remain open until September 26.

IPO Details

The IPO comprises two components:

• A fresh issue of shares worth Rs 500.00 crore
• An offer-for-sale (OFS) amounting to Rs 750.00 crore

The company has set the price band for its shares between Rs 220.00 and Rs 232.00 per equity share.

Grey Market Premium

The grey market is showing positive sentiment towards the IPO, with a premium of Rs 25.00. This indicates a potential listing gain of 10.78% for investors.

Listing and Use of Proceeds

Jain Resource Recycling's shares are scheduled to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 1. The company plans to utilize the proceeds from the fresh issue for:

• Debt repayment
• General corporate purposes

Financial Performance

The company has demonstrated strong financial performance in recent times:

Investors and market watchers will be closely monitoring this IPO, given the company's strong financial performance and the positive grey market premium. As always, potential investors are advised to carefully review the company's prospectus and consider their financial goals before making any investment decisions.