Jain Resource Recycling IPO Day 3: Check the latest GMP, subscription status - application or not?

Jain Resource Recycling IPO: The Initial Public Offer (IPO) of Jain Resource Recycling was opened on September 42 and will close today, September 26, for subscription, the £ 1,250 crore, fixed a price tire in the £ 220-232 series. Jain Resource Recycling IPO subscription By the end of day 2, the problem is logged in 1.31 times. It received bid for 3.89 crore shares compared to 2.96 crore offered. The retail portion was subscribed to 1.35 times, while the non -institutional investor (NII) category was offered 0.52 times and the qualified institutional buyers (QIBS) -quota was discussed 1.70 times. Jain Resource Recycling IPO GMP Jain Resource Recycling IPO is a healthy interest in the Gray Market, with a gray market premium (GMP) of £ 17. This indicates that the shares are trading above the issue price. At the current premium, the stock is expected to list around £ 249, which would be approximately 7.33 percent higher than the top of the price tape at £ 232. About Jain Resource Recycling IPO Jain Resource Recycling introduced an initial public offer (IPO) consisting of a new edition of 2.16 crore shares worth £ 500. Crore shares that collect £ 750 crore. Retail investors can apply for a minimum of 64 shares, which amounts to an £ 14,848 investment at the upper price tire. The awards process is expected to close on Monday, September 29, with shares listing on the NSE and BSE list on Wednesday 1 October. Prior to the public subscription, the scrap recycling business collected £ 562.5 on September 23 from 40 global and domestic institutional investors through the Anchor Book. The proceeds from the new edition, a total of £ 500 crore, are intended for prepayment or scheduled repayment of certain outstanding loans, as well as for general corporate purposes. In this IPO, at least 75 percent of the offer is reserved for qualified institutional buyers (QIBs), up to 10 percent for retail investors, and a maximum of 15 percent for non-institutional investors (NIIs). Jain Resource Recycling focuses on producing non-ferrous metal products by recycling scrap. The offers include lead and lead alloy trees, copper and copper tires, and aluminum and aluminum alloys. The company had a partnership with Ikon Square Ltd in the UAE to set up a gold dripping facility in Sharjah. In addition to the production, it is dealing with non-ferrous metals and other commodities. Among the listed peers are Gravita India and Pondy Oxides and Chemicals, which are currently trading at price-to-earnings ratios of 27.67 times and 55.24 times respectively. Jain Resource Recycling IPO: Match application or not? SBI Securities gave the Jain Resource IPO a ‘long-term’ subscriber subscriber, which highlights the leadership of the company in India’s non-fierce metal recycling and production sector. The firm noted that Jain Resource is one of only two recycling companies in the country that has registered its main enthusiast as a brand by the London Metal Exchange (LME). Despite the fragmented industry, the company maintains a strong presence in the market with a share of 8.6 percent and 3.4 percent in copper. Based on capital after the expense, the company is valued at a FY25 pe of 35.7 times and an EV/ebitda of 22.2 times. SBI Securities recommends that investors enroll on the IPO against the cut -off price for long -term profits. Ventura Securities also assessed the IPO as “subscribe”, referring to Jain Resource’s plans to expand its copper and aluminum recycling operations, raising the refinement capacity of precious metals and utilizing opportunities from the EV and renewable energy sectors. The company reported a year-on-year revenue growth of 61 percent, powered by rising domestic and international demand and its attempted refining of precious metals. “It has strengthened its global footprint by its UAE-based subsidiary, which has improved refinement and trade, capabilities in the Middle East and African regions. With a strong leadership team, the global supply chain reaching and a sustainability-driven business model, the company is well positioned to appear as a leading global player in the resource recycling industry, said with a ‘subscribe tag’.