Summary of this article
Jain Resources Recycling IPO opened for public bidding on September 24
Jain Resources Recycling IPO GMP fell by 26.66 per cent to Rs 22 from Rs 30 a day earlier
Jain Resources Recycling IPO received tepid response on Day 1
The initial public offering (IPO) of Jain Resource Recycling, a recycler of non-ferrous metals, saw tepid response on the opening day, September 24, so far. The three-day bidding window is set to close on September 26.
As of 5:00 PM, Jain Resources Recycling IPO was booked 73 per cent, or 0.73 times the shares on offer. The initial share sale, though, received strong response from qualified institutional buyers (QIBs), whose quota was fully subscribed, receiving bids 1.11 times. The non-institutional investor (NII) category received a tepid response, getting subscribed 0.12 times, and the retail investor portion was booked 0.51 times.
Jain Resources Recycling IPO Details
Here are the key details of Jain Resources Recycling's IPO that investors need to know.
Jain Resources Recycling IPO Issue Size
The company seeks to raise Rs 12,500 crore through via the IPO by issuing 21.55 million fresh equities worth Rs 500 crore and an offer for sale component of 32.33 million shares worth Rs 750 crore.
Jain Resources Recycling IPO Price Band, Lot Size, Minimum Investment
Jain Resources Recycling IPO is offering shares with a price band of Rs 220 to Rs 232 per share in a lot size of 64 shares. Therefore, the minimum investment required by retail investors is Rs 14,848, based on the upper band of the issue price.
Jain Resources Recycling IPO Allotment Date
The basis of allotment for the Jain Resources Recycling IPO is expected to be finalised on September 29. Refunds for unsuccessful applicants and credits of shares to allottees' demat accounts will begin on September 30.
Jain Resources Recycling IPO Listing Date
Jain Resources Recycling IPO shares are tentatively set to list on both the exchanges – NSE and BSE, on October 1.
Jain Resources Recycling IPO BRLMs, Registrar
Dam Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors, and PL Capital Markets are the book running lead managers for the Jain Resources Recycling IPO, and Kfin Technologies is the registrar to the issue.
Jain Resources Recycling IPO Objectives
Jain Resources Recycling plans to use the Rs 500 crore net proceeds from the fresh issue to repay part of its outstanding borrowings and for general corporate purposes.
Jain Resources Recycling IPO GMP, Expected Listing Price
Jain Resources Recycling IPO is trading at a grey market premium (GMP) of Rs 22, down from Rs 30 a day earlier, according to multiple websites that track grey market activities. This means its GMP fell by 26.66 per cent in one day.
Based on the current GMP and the upper price band of Rs 232, Jain Resources Recycling IPO is expected to list around Rs 254 per share, implying a premium of 9.48 per cent.
Jain Resources Recycling Company Profile
The Jain Resources Recycling, under the Jain Metal Group, is a non-ferrous metals recycler and producer in India. The company primarily recycles scrap to produce lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys. It operates three recycling facilities in Gummidipoondi, Chennai, with a combined production capacity of 3,08,306 tonnes per year, as of July 31, 2025.
The company's lead ingot is listed on the London Metal Exchange, which the company mentions in its red herring prospectus (RHP) that it provides "distinct advantage of having access to a broad customer base by offering products compliant with international quality standards."
Jain Resources Recycling Financial Performance
Jain Resources Recycling reported its revenue from operations for the fiscal year 2025 at Rs 7,125.77 crore, up from Rs 4,428.42 crore in FY24, and Rs 3,064.07 crore in FY23.
The recycler reported a profit after tax (PAT) of Rs 223.28 crore in FY25, up from Rs 163.83 crore in FY24 and Rs 91.81 crore in FY23. Its diluted earnings per share (EPS) rose to Rs 7.16 in FY25 from Rs 4.70 in FY24 and Rs 2.65 in FY23.
