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3w ago

Jain Resource Recycling IPO Gains Traction on Day Two as Bids Top Full Subscription

Heavy primary‑market traffic is splitting investor attention, with unofficial premiums suggesting a possible listing pop that remains uncertain.

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⁠Jinkushal Industries IPO GMP

Overview

  • By 3:10 pm on Day 2, Jain Resource Recycling was subscribed about 1.18 times overall, led by QIB bids at 1.61x, retail at 1.09x and NIIs at 0.38x, according to market trackers.
  • The Rs 1,250 crore offer comprises a Rs 500 crore fresh issue and a Rs 750 crore OFS in a Rs 220–232 band, with bidding through Sept. 26, allotment slated for Sept. 29 and listing targeted for Oct. 1 on BSE and NSE.
  • Grey‑market quotes for Jain ranged around Rs 20–30 this week, implying a roughly 9–13% listing premium, though reporters caution GMPs are informal and volatile.
  • Peer issues launched the same day showed mixed demand: Epack Prefab was about 52% subscribed on Day 2 and BMW Ventures around 20% at similar checkpoints, with both set to close on Sept. 26 and tentatively list on Oct. 1.
  • Elsewhere in the crowded calendar, Seshaasai Technologies reached 7.91x midday on its final day, while Jinkushal Industries logged a strong Day‑1 book (about 2.29x overall in late updates).