Jain Resource Recycling IPO allotment today: GMP, steps to check share allotment status online

Jain Resource Recycling IPO Allotment: Following the successful completion of Jain Resource Recycling’s initial public offering (IPO), investors are now awaiting the allotment status, which is expected to be finalised today, September 29.

The mainboard issue remained open for subscription between September 24 and September 26. The company’s shares are scheduled to list on October 1 on both BSE and NSE.

Once the basis of allotment is determined, equity shares will be credited to the demat accounts of successful applicants on September 30, with refunds also being processed the same day.

Investors can check the Jain Resource Recycling IPO allotment status online via the BSE and NSE websites or through the official portal of the IPO registrar, Kfin Technologies.

Step 1] Visit BSE website on this link - https://www.bseindia.com/investors/appli_check.aspx

Step 2] Select ‘Equity’ in the Issue Type

Step 3] Choose ‘Jain Resource Recycling’ in the Issue Name dropdown menu

Step 4] Enter either Application No. or PAN

Step 5] Verify by ticking on ‘I am not robot’ and click on ‘Search’

Your Jain Resource Recycling IPO allotment status will be displayed on the screen.

Step 1] Visit NSE allotment status page on its website here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 2] Select ‘Equity and SME IPO bids’

Step 3] Choose ‘Jain Resource Recycling’ from the Issue Name dropdown menu

Step 4] Enter your PAN and Application Number

Step 5] Click on Submit.

Your Jain Resource Recycling IPO allotment status will be displayed on the screen.

Step 1] Visit IPO registrar’s website on this link - https://kosmic.kfintech.com/ipostatus/

Step 2] Choose ‘Jain Resource Recycling’ in the Select IPO dropdown menu

Step 3] Select either Application No, Demat Account, or PAN

Step 4] Enter the details as per the option selected

Step 5] Enter the Captcha code and click on Submit

Your Jain Resource Recycling IPO allotment status will be displayed on the screen.

Jain Resource Recycling shares are showing a healthy trend in the unlisted market with a steady grey market premium (GMP). The IPO GMP today is ₹18 per share. This means that in the grey market, Jain Resource Recycling shares are trading higher by ₹18 than their issue price.

Jain Resource Recycling IPO GMP today signals that the estimated listing price of the stock would be ₹250 apiece, which is at a premium of 7.76% to the IPO price of ₹232 per share.

The Jain Resource Recycling IPO, worth ₹1,250 crore, is priced in the range of ₹220-232 per share. The offering comprises a fresh issue of 2.16 crore equity shares aggregating to ₹500 crore and an offer-for-sale (OFS) of 3.23 crore shares amounting to ₹750 crore.

The lot size has been set at 64 shares, requiring a minimum investment of ₹14,848 for retail investors.

The issue witnessed strong demand, being subscribed 16.76 times over three days of bidding. It received applications for 49.67 crore shares against 2.96 crore shares on offer. The retail portion was booked 3.81 times, while the Non-Institutional Investors (NII) category was subscribed 5.59 times. The Qualified Institutional Buyers (QIB) portion saw robust interest with 26.67 times subscription.

As per Jain Resource Recycling, the net proceeds from the IPO will be utilised for prepayment or scheduled repayment of certain outstanding borrowings and for general corporate purposes. Dam Capital Advisors Ltd. is the book running lead manager, and Kfin Technologies Ltd. is the registrar to the issue.

Incorporated in 2022, Jain Resource Recycling Limited operates in the recycling and manufacturing of non-ferrous metal products. Its portfolio consists of lead and lead alloy ingots, copper and copper ingots, as well as aluminium and aluminium alloys.

The company caters to industries such as lead-acid batteries, electrical and electronics, pigments, and automotive. Its client base includes both domestic and global companies, among them Vedanta Limited-Sterlite Copper, Luminous Power Technologies Private Limited, Yash Resources Recycling Limited, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories