Jain Resource Recycling IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Sep 24 to Sep 26 2025
Price Band
₹220 - 232
Current GMP
₹265.05 (+14.25%)
Subscription
16.76 times
IPO Details
| IPO Date | September 24, 2025 to September 26, 2025 |
| Listing Date | October 1, 2025 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹220 to ₹232 per share |
| Issue Price Final | ₹232 per share |
| Lot Size | 64 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,38,79,309 shares (aggregating up to ₹1,250.00 Cr) |
| Fresh Issue | 2,15,51,724 shares (aggregating up to ₹500.00 Cr) |
| Offer for Sale | 3,23,27,585 shares of ₹2 (aggregating up to ₹750.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 32,35,34,090 shares |
| Share Holding Post Issue | 34,50,85,814 shares |
IPO Date
September 24, 2025 to September 26, 2025
Listing Date
October 1, 2025
Face Value
₹2 per share
Issue Price Band
₹220 to ₹232 per share
Issue Price Final
₹232 per share
Lot Size
64 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
5,38,79,309 shares (aggregating up to ₹1,250.00 Cr)
Fresh Issue
2,15,51,724 shares (aggregating up to ₹500.00 Cr)
Offer for Sale
3,23,27,585 shares of ₹2 (aggregating up to ₹750.00 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
32,35,34,090 shares
Share Holding Post Issue
34,50,85,814 shares
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 26.67 |
| Non-Institutional Buyers | 5.59 |
| bNII (bids above ₹10L) | 5.50 |
| sNII (bids below ₹10L) | 5.76 |
| Retail Investors | 3.81 |
| Total ** | 16.76 |
Anchor Investors
1
QIB (Ex Anchor)
26.67
Non-Institutional Buyers
5.59
bNII (bids above ₹10L)
5.50
sNII (bids below ₹10L)
5.76
Retail Investors
3.81
Total **
16.76
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Sep 24, 2025 | 1.17 | 0.12 | 0.09 | 0.19 | 0.54 | 0.77 |
| Day 2 Sep 25, 2025 | 1.70 | 0.52 | 0.36 | 0.83 | 1.35 | 1.31 |
| Day 3 Sep 26, 2025 | 26.67 | 5.59 | 5.50 | 5.76 | 3.81 | 16.76 |
DayDay 1
Sep 24, 2025
QIB (Ex Anchor)1.17
NII0.12
NII (> ₹10L)0.09
NII (< ₹10L)0.19
Retail0.54
Total0.77
DayDay 2
Sep 25, 2025
QIB (Ex Anchor)1.70
NII0.52
NII (> ₹10L)0.36
NII (< ₹10L)0.83
Retail1.35
Total1.31
DayDay 3
Sep 26, 2025
QIB (Ex Anchor)26.67
NII5.59
NII (> ₹10L)5.50
NII (< ₹10L)5.76
Retail3.81
Total16.76
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 01-10-2025 | 232.00 | 13(5.60%) | 245 |
| 30-09-2025 | 232.00 | 13(5.60%) | 245 |
| 29-09-2025 | 232.00 | 16(6.90%) | 248 |
| 28-09-2025 | 232.00 | 18(7.76%) | 250 |
| 27-09-2025 | 232.00 | 18(7.76%) | 250 |
| 26-09-2025 | 232.00 | 3.5(1.51%) | 235.5 |
| 25-09-2025 | 232.00 | 17(7.33%) | 249 |
| 24-09-2025 | 232.00 | 20(8.62%) | 252 |
| 23-09-2025 | 232.00 | 30(12.93%) | 262 |
| 22-09-2025 | 232.00 | 19(8.19%) | 251 |
| 21-09-2025 | 232.00 | 17(7.33%) | 249 |
| 20-09-2025 | 232.00 | 13(5.60%) | 245 |
| 19-09-2025 | 232.00 | 23(9.91%) | 255 |
Date01-10-2025
Price232.00
GMP13(5.60%)
Estimate List Price245
Date30-09-2025
Price232.00
GMP13(5.60%)
Estimate List Price245
Date29-09-2025
Price232.00
GMP16(6.90%)
Estimate List Price248
Date28-09-2025
Price232.00
GMP18(7.76%)
Estimate List Price250
Date27-09-2025
Price232.00
GMP18(7.76%)
Estimate List Price250
Date26-09-2025
Price232.00
GMP3.5(1.51%)
Estimate List Price235.5
Date25-09-2025
Price232.00
GMP17(7.33%)
Estimate List Price249
Date24-09-2025
Price232.00
GMP20(8.62%)
Estimate List Price252
Date23-09-2025
Price232.00
GMP30(12.93%)
Estimate List Price262
Date22-09-2025
Price232.00
GMP19(8.19%)
Estimate List Price251
Date21-09-2025
Price232.00
GMP17(7.33%)
Estimate List Price249
Date20-09-2025
Price232.00
GMP13(5.60%)
Estimate List Price245
Date19-09-2025
Price232.00
GMP23(9.91%)
Estimate List Price255
IPO Important Dates
| IPO Open Date | Wed, Sep 24, 2025 |
| IPO Close Date | Fri, Sep 26, 2025 |
| Tentative Allotment | Mon, Sep 29, 2025 |
| Initiation of Refunds | Tue, Sep 30, 2025 |
| Credit of Shares to Demat | Tue, Sep 30, 2025 |
| Tentative Listing Date | Wed, Oct 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 26, 2025 |
IPO Open Date
Wed, Sep 24, 2025
IPO Close Date
Fri, Sep 26, 2025
Tentative Allotment
Mon, Sep 29, 2025
Initiation of Refunds
Tue, Sep 30, 2025
Credit of Shares to Demat
Tue, Sep 30, 2025
Tentative Listing Date
Wed, Oct 1, 2025
Cut-off time for UPI mandate confirmation
5 PM on Fri, Sep 26, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 64 | ₹14,848 |
| Retail (Max) | 13 | 832 | ₹1,93,024 |
| S-HNI (Min) | 14 | 896 | ₹2,07,872 |
| S-HNI (Max) | 67 | 4,288 | ₹9,94,816 |
| B-HNI (Min) | 68 | 4,352 | ₹10,09,664 |
ApplicationRetail (Min)
Lots1
Shares64
Amount₹14,848
ApplicationRetail (Max)
Lots13
Shares832
Amount₹1,93,024
ApplicationS-HNI (Min)
Lots14
Shares896
Amount₹2,07,872
ApplicationS-HNI (Max)
Lots67
Shares4,288
Amount₹9,94,816
ApplicationB-HNI (Min)
Lots68
Shares4,352
Amount₹10,09,664
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,836.24 | 1,528.76 | 1,115.96 |
| Total Income | 7,162.15 | 4,484.84 | 3,107.53 |
| Profit After Tax | 223.29 | 163.83 | 91.81 |
| EBITDA | 368.58 | 227.22 | 124.18 |
| NET Worth | 707.46 | 367.18 | 196.97 |
| Reserves and Surplus | 660.01 | 328.13 | 161.30 |
| Total Borrowing | 919.92 | 909.38 | 732.79 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 20251,836.24
31 Mar 20241,528.76
31 Mar 20231,115.96
Period EndedTotal Income
31 Mar 20257,162.15
31 Mar 20244,484.84
31 Mar 20233,107.53
Period EndedProfit After Tax
31 Mar 2025223.29
31 Mar 2024163.83
31 Mar 202391.81
Period EndedEBITDA
31 Mar 2025368.58
31 Mar 2024227.22
31 Mar 2023124.18
Period EndedNET Worth
31 Mar 2025707.46
31 Mar 2024367.18
31 Mar 2023196.97
Period EndedReserves and Surplus
31 Mar 2025660.01
31 Mar 2024328.13
31 Mar 2023161.30
Period EndedTotal Borrowing
31 Mar 2025919.92
31 Mar 2024909.38
31 Mar 2023732.79
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Jain Resource Recycling Ltd. | 7.16 | 7.16 | 21.87 | 41.56 | ||
| Gravita India Limited | 45.11 | 45.11 | 273.04 | 37.67 | 22.33 | 6.22 |
| Pondy Oxides & Chemicals Limited | 22.03 | 21.08 | 205.26 | 55.24 | 12.71 | 5.68 |
Company NameJain Resource Recycling Ltd.
EPS (Basic)7.16
EPS (Diluted)7.16
NAV (per share) (Rs)21.87
P/E (x)
RoNW (%)41.56
P/BV Ratio
Company NameGravita India Limited
EPS (Basic)45.11
EPS (Diluted)45.11
NAV (per share) (Rs)273.04
P/E (x)37.67
RoNW (%)22.33
P/BV Ratio6.22
Company NamePondy Oxides & Chemicals Limited
EPS (Basic)22.03
EPS (Diluted)21.08
NAV (per share) (Rs)205.26
P/E (x)55.24
RoNW (%)12.71
P/BV Ratio5.68
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 4,04,09,483 (75.00%) | NA |
| − Anchor Investor Shares Offered | 2,42,45,689 (45.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,61,63,794 (30.00%) | NA |
| NII (HNI) Shares Offered | 80,81,897 (15.00%) | NA |
| − bNII > ₹10L | 53,87,931 (10.00%) | 6,013 |
| − sNII < ₹10L | 26,93,966 (5.00%) | 3,006 |
| Retail Shares Offered | 53,87,931 (10.00%) | 84,186 |
| Total Shares Offered | 5,38,79,311 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered4,04,09,483 (75.00%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered2,42,45,689 (45.00%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered1,61,63,794 (30.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered80,81,897 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered53,87,931 (10.00%)
Maximum Allottees6,013
Investor Category− sNII < ₹10L
Shares Offered26,93,966 (5.00%)
Maximum Allottees3,006
Investor CategoryRetail Shares Offered
Shares Offered53,87,931 (10.00%)
Maximum Allottees84,186
Investor CategoryTotal Shares Offered
Shares Offered5,38,79,311 (100.00%)
Maximum Allottees
Information about company
Incorporated in 2022, Jain Resource Recycling Limited is engaged in the recycling and manufacturing of non-ferrous metal products. Its product portfolio includes lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys.
The company operates three recycling facilities located at SIPCOT Industrial Estate, Gummidipoondi, Chennai. These facilities process various types of metal scrap, including copper (birch, druid), lead (radio, relay, rains, rinks), and aluminium (tread, talon, tense). A gold refining facility in Sharjah Airport International Free Zone (SAIF-Zone), UAE, through its subsidiary JIGV.
Jain Resource Recycling Limited supplies its products to sectors such as lead-acid battery, electrical and electronics, pigments, and automotive. Clients include domestic and international companies such as Vedanta Limited-Sterlite Copper, Luminous Power Technologies Private Limited, Yash Resources Recycling Limited, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.
Products Portfolio:
Lead & Lead Alloy Ingots
Copper & Copper Ingots
Aluminium & Aluminium Alloys
Tin Ingots
Plastic
The company has a presence in global markets including Singapore, China, Japan, and South Korea.
As of July 31, 2025, the company had a total of 411 permanent employees.
Competitive Strengths:
Track record of profitability and consistent financial performance in an industry with significant entry barriers.
Strategically located Recycling Facilities with capabilities to handle multiple products lines.
Strong customer base with global footprint and deep sourcing capabilities.
Application of Hedging Mechanism for Commodity Price Risk Protection for Products
Experienced management team and qualified personnel with significant industry experience.
Objectives of IPO
The Company Jain Resource Recycling IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company.
375.00
2
General corporate purposes.
59.11
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