Jain Resource Recycling's ₹1,250cr IPO opens today: 5 key details
Jain Resource Recycling, part of the Jain Metal Group, just launched its IPO today (September 24), and you've got until Friday to subscribe.
The company is looking to raise ₹1,250 crore—₹500 crore from new shares and ₹750 crore from existing shareholders cashing out.
Shares are priced between ₹220-₹232 each, and retail investors can start with a minimum lot of 64 shares (about ₹14,848 at the top price).
Grey market premium, listing expectations
The IPO is getting buzz in the gray market with a premium of ₹25 per share—hinting at a possible listing price near ₹257 (an 11% jump).
Allotment happens on September 29; shares hit demat accounts by September 30. Listing day is October 1 on both NSE and BSE.
The funds raised will help Jain Resource grow and pay down debt—the company operates three large facilities near Chennai.