Jain Resource Recycling's Rs 1,250 Crore IPO Subscribed 16.76 Times
Jain Resource Recycling's Rs 1,250 crore Initial Public Offering (IPO), open for subscription between September 24 and September 26, was a significant event in the Indian stock market. The IPO, which was subscribed 16.76 times overall, indicating strong investor interest.
The IPO consisted of a fresh issuance of Rs 500 crore and an offer for sale of Rs 750 crore. The price band was set at Rs 220-232 per share. The allotment process was completed on September 29, and the shares were listed at a 14% premium on October 1.
Dam Capital Advisors acted as the book-running lead manager for the issue. Kfin Technologies handled the registrar responsibilities. The subscription saw robust participation from various categories of investors. Qualified institutional buyers subscribed 26.67 times, retail investors subscribed 3.81 times, and non-institutional investors subscribed 5.59 times.
The Jain Resource Recycling IPO's success reflects the market's confidence in the company's prospects. Despite the details of the lead manager for the issue not being specified, the IPO's overwhelming response indicates a positive outlook for the company's future.
Read also:
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Conflict between Ben & Jerry's co-founder and Unilever over Gaza issues leads to resignation of co-founder
- Two farmers in Zambia take legal action against two firms with Chinese connections, alleging an ecological disaster caused by their operations.
