Jain Resource Recycling IPO GMP: What Does Grey Market Signal On Final Day Of Subscription
The grey market premium trends for the Jain Resource Recycling IPO suggest an estimated listing gain of up to 8% when the shares list on the market next week.
The initial public offering (IPO) of Jain Resource Recycling Ltd., which opened for subscription on Wednesday, September 24, will conclude its subscription process today, on September 26.
The mainboard issue was fully subscribed on Day 2, with investors bidding for 3,89,03,872 shares against the 3,12,49,999 shares on offer, resulting in an overall subscription of 1.24 times on Thursday.
Amid the decent buzz, the unlisted shares of Jain Resource Recycling Ltd. have been trading at a premium in the grey market (GMP), suggesting muted listing gains for investors.
As the Day 3 subscription gets underway, the GMP for Jain Resource Recycling IPO remains in focus on the final day of bidding.
Jain Resource Recycling IPO GMP Today
The GMP for the Jain Resource Recycling IPO was Rs 17 as of 8:30 a.m. on September 26. This indicates a listing price of Rs 249 per share at a premium of 7.33% on the upper limit of the price band.
This means the unlisted shares of the company were trading at Rs 249 in the grey market, signalling an upside of up to 8% when the shares of Jain Resource Recycling debut on the stock market next week.
Note: GMP does not represent official data and is based on speculation. GMP sourced from InvestorGain.
Jain Resource Recycling IPO: All You Need To Know
The Jain Resource Recycling IPO is a book-built issue of Rs 1,250 crore. It comprises a fresh issue of 2.16 crore shares, amounting to Rs 500 crore, and an offer-for-sale (OFS) of 3.23 crore shares, worth Rs 750 crore.
The price band for the IPO is set between Rs 220 and Rs 232 per share.
Retail investors can participate in the IPO by bidding for a single lot size of 64 shares, leading to an investment of Rs 14,848. Small Non-Institutional Investors are required to bid for 14 lots, amounting to an investment of Rs 2,07,872. Big Non-Institutional Investors must bid for a minimum of 68 lots, requiring an investment of Rs 10,09,664.
Dam Capital Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
Use Of Proceeds
The company will use proceeds from the IPO to fund capital expenditure, clear debt, and for general corporate purposes.
Jain Resource Recycling IPO: Allotment And Listing Date
The IPO allotment status for Jain Resource Recycling is expected to be finalised on September 29. The company will transfer shares to the demat accounts of successful bidders on September 30, and refunds for non-allottees will be processed on the same day.
Shares of Jain Resource Recycling are expected to be listed on the BSE and NSE on Wednesday, October 1.
About Jain Resource Recycling
The company specialises in recycling non-ferrous metals. Its portfolio includes lead alloy ingots and copper ingots.
The company reported a 36.3% year-on-year (YoY) increase in profit after tax (PAT) to Rs 223.29 crore in FY25 from Rs 163.83 crore in FY24. Revenue from operations rose 60.9% YoY to Rs 7,125.77 crore in FY25 from Rs 4,428.42 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
