Jain Resource Recycling IPO: Day Two — Check Latest GMP, Subscription Status

Jain Resource Recycling Ltd.'s initial public offering was subscribed 0.78 times or 78% on day two. The offering aims to sell shares worth up to Rs 1,250 crore. The company will raise Rs 500 crore via a fresh issue of 2.16 crore shares. The IPO also includes an offer-for-sale component worth Rs 750 crore and 3.23 crore shares.

Investors can bid for the company's IPO at a price band of Rs 220 to Rs 232 per share. The minimum lot size for retail investors is 64 shares, which means the minimum amount of investment required by a retail investor is Rs 14,848.

Small institutional investors will need to buy a minimum of 14 lots amounting to Rs 2.07 lakh and big non-institutional investors will have to buy a minimum of 68 lots, that is an investment of at least Rs 10.09 lakh.

DAM Capital Advisors Ltd., ICICI Securities, Motilal Oswal Investment Advisors and PL Capital are the book-running lead managers, while KFin Technologies Ltd. is the registrar of the offer.

The IPO opened on Wednesday and closes on Sept. 26. The share allotment will be tentatively finalised by Sept. 29. The firm will transfer shares to the demat accounts of successful bidders on Sept. 30 and refunds to non-allottees will be done on the same day.