Jain Resource Recycling Ltd IPO: A Lucrative Investment Opportunity

Jain Resource Recycling Ltd's initial public offering (IPO) garnered significant attention, achieving 1.24 times subscription by its second day. The sale received bids for 3,89,03,872 shares, surpassing the 3,12,49,999 shares on offer, according to the NSE.

Segment-wise, the qualified institutional buyers' quota was subscribed 1.61 times, while retail individual investors showed a 1.28 times subscription. However, the non-institutional investors' category recorded a modest 49% subscription.

Valued over Rs 8,000 crore at the higher end, the IPO includes fresh equity worth Rs 500 crore and an offer for sale valued at Rs 750 crore. Proceeds will primarily address debt and general corporate needs, cementing Jain's position in the recycling of non-ferrous metals.

(With inputs from agencies.)