NewsOrders & DealsAshish Kacholia Expands Portfolio with Rs 128 Crore Stake in Jain Resource RecyclingAshish Kacholia Expands Portfolio with Rs 128 Crore Stake in Jain Resource Recycling
Renowned investor Ashish Kacholia has acquired a 1.14% stake in Jain Resource Recycling, marking his 50th stock holding. The investment, made through Bengal Finance & Investment Pvt Ltd, involves 39,16,875 shares valued at approximately Rs 128.00 crore. Jain Resource Recycling, a non-ferrous metals recycling company, recently had a successful IPO with a 14% listing premium and has since gained 41% from its IPO price. The company operates facilities near Chennai and in the UAE, serving major clients and exporting to various Asian markets. Kacholia's total portfolio is now estimated to be worth over Rs 2,894.00 crore.
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Renowned investor Ashish Kacholia has expanded his portfolio to include a 50th stock holding with a significant investment in Jain Resource Recycling. This move marks a notable addition to Kacholia's diverse investment strategy in the Indian stock market.
Investment Details
| Aspect | Details |
|---|---|
| Company | Jain Resource Recycling |
| Stake Acquired | 1.14% |
| Number of Shares | 39,16,875 |
| Estimated Value | Rs 128.00 crore |
| Acquisition Method | Pre-IPO allocation |
| Acquiring Entity | Bengal Finance & Investment Pvt Ltd (associated with Kacholia) |
IPO Performance
Jain Resource Recycling's market debut has been impressive:
| Metric | Value |
|---|---|
| IPO Price | Rs 232.00 |
| Listing Price | Rs 265.00 |
| Listing Day Premium | 14.00% |
| Current Share Price | Rs 326.90 |
| Gain Since IPO | 41.00% |
| IPO Size | Rs 1,250.00 crore |
| Oversubscription | 16.8 times |
| Institutional Buyers Subscription | 27 times their portion |
Company Overview
Jain Resource Recycling operates in the non-ferrous metals recycling sector:
- Products: Lead, copper, aluminium, and gold refining
- Facilities: Three near Chennai, one gold refining unit in UAE
- Key Clients: Vedanta, Luminous Power, Mitsubishi Corporation, Nissan Trading
- Export Markets: Singapore, China, Japan, South Korea
Kacholia's Portfolio
With this addition, Ashish Kacholia's investment portfolio now includes:
- Total number of stocks: 50
- Estimated portfolio value: Over Rs 2,894.00 crore
This investment in Jain Resource Recycling underscores Kacholia's strategy of identifying potential growth opportunities across various sectors in the Indian market. The company's strong IPO performance and subsequent market gains align with Kacholia's reputation for selecting promising stocks.
Investors and market watchers will likely keep a close eye on both Jain Resource Recycling's performance and Kacholia's future investment moves, given his influential status in the Indian stock market.
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