Jain Resource Recycling IPO: A Comprehensive Guide for Indian Investors
Jain Resource Recycling Ltd.’s initial public offering (IPO) has been making headlines in the Indian stock market, with its massive subscription numbers and strong demand from investors. In this article, we will delve into the details of the IPO, including its price band, allotment date, and estimated listing price, to help Indian investors make informed decisions.
What is Jain Resource Recycling Ltd.?
Jain Resource Recycling Ltd. is a leading player in the recycling of non-ferrous metals, with a portfolio that includes lead alloy ingots and copper ingots. The company’s IPO aims to raise Rs 1,250 crore, with a fresh issue of Rs 500 crore and an offer-for-sale component worth Rs 750 crore.
IPO Subscription Details
The Jain Resource Recycling IPO was subscribed 15.90 times on its last day, with strong demand from institutional and retail investors. The subscription numbers are as follows:
- Institutional investors (QIB): 25.29 times
- Non-Institutional investors (NII): 5.30 times
- Retail investors: 3.62 times
The strong subscription numbers indicate a high level of interest in the IPO, with investors betting on the company’s growth potential and the demand for non-ferrous metals in India.
Price Band and Allotment Date
The IPO price band is set at Rs 220 to Rs 232 per share, with a minimum lot size of 64 shares for retail investors. The allotment date is tentatively set for September 29, with the shares expected to be listed on the stock exchanges on October 1.
For more information on IPO allotment process, you can visit our website.
Estimated Listing Price and Grey Market Premium
The estimated listing price of the IPO is Rs 235.5, implying a 1.51% premium over the issue price. The grey market premium (GMP) is currently at Rs 3.5, indicating a positive sentiment among investors.
However, it’s essential to note that the GMP is based on speculation and does not represent official data. Investors should exercise caution and do their own research before making any investment decisions.
How to Invest in the Jain Resource Recycling IPO
To invest in the Jain Resource Recycling IPO, you can follow these steps:
- Open a demat account with a registered broker
- Check the IPO details, including the price band and allotment date
- Place your bid through the broker’s platform
- Pay the application amount and wait for the allotment
For more information on how to invest in IPO, you can visit our website.
Conclusion
The Jain Resource Recycling IPO has seen a massive subscription, with strong demand from institutional and retail investors. While the estimated listing price and grey market premium indicate a positive sentiment, investors should exercise caution and do their own research before making any investment decisions.
As an investor, it’s essential to stay updated on the latest stock market news and trends to make informed decisions. You can visit our website for more information on the Indian stock market and investment opportunities.