Jain Resource Recycling Solutions is conducting a public offering with a total value of ₹1,250 crore. Today marks the final day for applications, with robust demand evident as more investors seek shares than are available. The IPO features new shares valued at ₹500 crore alongside existing shares worth ₹750 crore. The price range for each share is established between ₹220 and ₹232, with leading firms such as DAM Capital, ICICI Securities, and Motilal Oswal overseeing the offering. Shares are scheduled to be listed on the NSE and BSE stock exchanges on October 1. Qualified Institutional Buyers have shown considerable interest, applying for 1.64 times their allocated shares, while retail investors are also active, with a subscription rate of 1.45 times.
In contrast, non-institutional investors exhibit lower interest, subscribing at 0.59 times. Overall, the IPO is fully subscribed at 1.32 times, reflecting significant demand. The funds raised will primarily be directed towards repaying company debts and supporting general corporate activities. In the grey market, shares are currently trading at a premium of ₹17 above the upper price range, indicating a potential listing price of approximately ₹249, which would yield a 7% gain for investors on the first trading day.