Jain Resource Recycling IPO Day 2: Retail Demand Strengthens, Total Subscription at 1.23×

New Delhi, September 25, 2025 – Jain Resource Recycling Limited’s ₹1,250 crore IPO saw continued investor demand in the second day. Through midday, the issue had been subscribed approximately 1.23 times, with stronger traction in the retail category, while the institutional category subscription remained stable. The overall issue has seen huge bids in all categories.

Jain Resource Recycling is one of India’s largest recyclers of non-ferrous metals, plastics, and industrial scrap. With operations spanning over 70 countries, the company is a market leader in sustainable resource recovery and a recognized global supplier of recycled lead and copper products.

Subscription by Category

Qualified Institutional Buyers (QIBs) continue to show strong demand, with subscriptions at 1.70×. Retail investors have also shown healthy interest, subscribing 1.10× so far. In contrast, Non-Institutional Investors (NIIs) lag behind, with their portion subscribed at less than 50%..

Demand Across Price Bands

Bidding has been particularly strong near the upper end of the price band, ₹220-₹232. At ₹232, demand has been exceptionally high, with cut-off bids reaching nearly 39.84 lakh shares. This reflects a clear vote of confidence from retail investors.

Anchor Allocation & IPO Structure

Prior to public subscription, the firm raised ₹562.50 crore through anchor allotments, issuing over 2.42 crore shares at ₹232 a share. The anchor support included domestic and overseas institutional investors such as HDFC Mutual Fund, Axis MF, Goldman Sachs, Abu Dhabi Investment Authority, Motilal Oswal AMC, Bandhan MF, and SBI General Insurance.

Jain Resource Recycling IPO opened on 24 September 2025 and is currently live, closing tomorrow, 26 September 2025. It comprises a fresh issue along with an offer-for-sale component. The basis of allotment is expected to be finalised on or before 29 September, with listing scheduled for 1 October 2025.

Outlook

With subscription crossing parity and retail demand strengthening, the IPO appears on track to be fully subscribed by the deadline. If institutional interest remains steady, this momentum could translate into a strong listing day.”

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