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2h ago

Jain Resource Recycling Opens Rs 1,250 Crore IPO After Rs 562.5 Crore Anchor Take-Up

Proceeds will primarily pare debt as the issue is priced at Rs 220–232 per share.

Jain Resource Recycling IPO
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Overview

  • The offering comprises a Rs 500 crore fresh issue and a Rs 750 crore offer for sale by existing shareholders.
  • Ahead of the launch, the company allotted 2.42 crore shares at Rs 232 each to 40 anchor investors, including Goldman Sachs, Axis Mutual Fund and HDFC Mutual Fund.
  • Bidding runs Sept. 24–26 with a minimum lot of 64 shares, allotment is due Sept. 29, demat transfers and refunds on Sept. 30, and an expected BSE and NSE listing on Oct. 1.
  • Informal grey market indications put the premium near Rs 25 per share, suggesting upside but reflecting sentiment rather than official pricing.
  • The non-ferrous metal recycler reported FY25 revenue of Rs 7,125.77 crore and PAT of Rs 223.29 crore, up 60.9% and 36.3% year on year, respectively.