Jain Resource Recycling Solutions is offering shares to the public through an IPO worth ₹1,250 crore. Today is the last day to apply for these shares. So far, demand has been strong, with more people applying for shares than available.

What Does the IPO Include?

The IPO consists of new shares worth ₹500 crore and existing shares being sold worth ₹750 crore. The price range for each share is set between ₹220 and ₹232. Leading firms like DAM Capital, ICICI Securities, and Motilal Oswal are managing the IPO. Shares will be listed on NSE and BSE stock exchanges on October 1.

How Interested Are Investors?

Qualified Institutional Buyers have applied for 1.64 times the shares allocated to them. Retail investors are active too, with 1.45 times subscription. Non-institutional investors showed less interest with 0.59 times subscription. Overall, the IPO is subscribed 1.32 times, indicating strong demand.

How Will the Company Use the Funds Raised?

The money raised from the IPO will mainly be used to repay the company’s debts and to support general corporate purposes.

What is the Expected Listing Price?

In the grey market, shares are trading at a premium of ₹17 above the upper price band. This suggests the shares may list at around ₹249, offering investors a potential 7% gain on the first day of trading.