Jain Resource Recycling IPO Day 1: Subscription Status, Price Band, Lot Size and GMP
- 24th September 2025
- 12:00 PM
- 2 min read
Summary
The Jain Resource Recycling IPO opened at a price band of ₹220–₹232, seeking to raise ₹1,250 crore. On Day 1, subscription crawled to just 2%, led by retail, while institutions stayed quiet. The grey market, though, is betting on a 13% pop — setting up a tug of war between tepid bids and upbeat whispers.Mumbai | September 24
The Jain Resource Recycling IPO opened for subscription today with a price band of ₹220–₹232 per share. The ₹1,250 crore issue, which closes on September 26, includes a fresh issue of ₹500 crore and an offer for sale of ₹750 crore by promoter Kamlesh Jain and shareholder Mayank Pareek.
Jain Resource Recycling IPO Subscription Status Day 1
By 10:45 pm on Day 1, bids were placed for 7.27 lakh shares against the 3.12 crore shares available, translating into just 2% overall subscription, according to NSE data.
Retail investors subscribed 11% of their quota, while NIIs subscribed 1%. QIBs were yet to bid, which is common in early days as institutional demand usually builds towards the close.
About Jain Resource Recycling and Key Dates
The company manufactures non-ferrous metal products such as copper ingots, lead alloys and aluminium alloys by recycling scrap. It has also tied up with Ikon Square Ltd, UAE, to set up a gold refining plant in Sharjah.
The IPO is being managed by DAM Capital Advisors, Motilal Oswal Investment Advisors, ICICI Securities and PL Capital Markets, with KFin Technologies as registrar. Share allotment is expected on September 29, with a tentative listing on October 1 on the NSE and BSE.
Jain Resource Recycling IPO GMP Today
Ahead of the issue, Jain Resource Recycling raised ₹562.5 crore from anchor investors, including Goldman Sachs, Abu Dhabi Investment Authority, BNP Paribas, Citigroup Global, HDFC AMC, Axis MF and ICICI Lombard.
In the grey market, its unlisted shares were quoting at ₹262 apiece, reflecting a GMP of ₹30 or about 13% over the upper price band. The premium signals moderate positive sentiment ahead of listing.
Disclaimer: The Grey Market Premium (GMP) indicates investors’ willingness to pay above the IPO issue price in the unofficial market. GMP data is unofficial, subject to change, and should not be the sole basis for investment decisions. Investors are advised to evaluate fundamentals and associated risks before investing.
Apply to the Jain Resource Recycling IPO here
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