Jain Resource Recycling IPO subscribed 73%

The initial public offer of Jain Resource Recycling received bids for 2,27,44,384 shares as against 3,12,49,999 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (24 September 2025). The issue was subscribed 0.73 times. The issue opened for bidding on 24 September 2025 and it will close on 26 September 2025. The price band of the IPO is fixed between Rs 220 and 232 per share. An investor can bid for a minimum of 64 equity shares and in multiples thereof. The IPO comprises a fresh issue worth Rs 500 crore and an offer for sale of shares aggregating Rs 750 crore, taking the total issue size to Rs 1,250 crore. As of 31 July 2025, the company’s total outstanding borrowings stood at Rs 1,040.72 crore. Promoter Kamlesh Jain’s stake will decline to 65.87% post-offer from 79.78% pre-offer. Jain Resource Recycling, based in Chennai, turns non-ferrous scrap into value-added lead, copper and aluminium products, with its lead brand registered on the LME. Backed by three Tamil Nadu facilities and subsidiary JGTPL, the company exports around 60% of its output to marquee clients like Vedanta-Sterlite, Luminous Power and Mitsubishi. The business is promoted by Kamlesh Jain. Ahead of the IPO, Jain Resource Recycling on Tuesday, 23 September 2025, raised Rs 562.49 crore from anchor investors. The board allotted 2.42 crore shares at Rs 232 each to 40 anchor investors. The firm reported a consolidated net profit of Rs 223.29 crore and a total income of Rs 7,125.77 crore for the twelve months ended on 31 March 2025.