Meanwhile, the grey market premium (GMP) — an unofficial indicator of how the stock might perform on listing day — is holding around 7.33%. This suggests that the shares could list at a premium of approximately Rs 17–18 per share over the issue price, pointing to potential short-term gains for investors.
Jain Resource Recycling IPO GMP Today:
The grey market premium (GMP) for Jain Resource Recycling’s IPO is currently around 7.33%, pointing to potential listing gains of roughly Rs 17–18 per share.GMP represents the price at which IPO shares are being traded in the unofficial market before their official debut. While it provides an early indication of investor sentiment and expected demand, it is not a regulated or guaranteed measure and should be viewed with caution.
Jain Resource Recycling IPO Subscription Status
As of the end of Day 2, Jain Resource Recycling’s Rs 1,250 crore IPO was subscribed 1.24 times overall, indicating a healthy level of investor interest across categories.Retail Investors showed strong participation, subscribing to 1.28 times the 56.81 lakh shares reserved for them. This means demand from individual investors exceeded the available quota in this category.Non-Institutional Investors (NIIs), which include high-net-worth individuals, subscribed to 49% of their allocated 85.22 lakh shares, showing moderate interest so far.
Qualified Institutional Buyers (QIBs), such as mutual funds and insurance companies, subscribed to 1.61 times their allotted 1.70 crore shares — the highest among all investor segments, reflecting solid institutional confidence in the offering.
Jain Resource Recycling IPO: Key Issue Details
The Rs 1,250 crore initial public offering (IPO) of Jain Resource Recycling is currently open and will close on September 26. The IPO comprises a fresh issue of Rs 500 crore and an offer for sale (OFS) worth Rs 750 crore by existing shareholders. The price band for the issue has been set between Rs 220 and Rs 232 per share, with a minimum lot size of 64 shares for retail investors. At the higher end of the price band, the company’s estimated market capitalization post-issue stands at approximately Rs 8,006 crore.
Company Profile: A Leader in Metal Recycling
Jain Resource Recycling, part of the Chennai-based Jain Metal Group, is a major player in India’s non-ferrous metal recycling industry. The company operates three manufacturing units in the Sipcot Industrial Estate at Gummidipoondi, near Chennai. These facilities process scrap copper, aluminium, and lead, contributing to a diverse product range that includes LME-registered lead ingots, copper ingots, and aluminium alloys.
The company is export-driven, with over 60% of its products shipped to more than 20 countries including China, Singapore, South Korea, UAE, Taiwan, and Japan. Jain Resource Recycling’s products primarily serve the automotive, electronics, and battery sectors, and its client base features major names such as Vedanta Sterlite Copper, Luminous Power Technologies, Mitsubishi Corporation Japan, and Nissan Trading.
Strong Financial Growth
Jain Resource Recycling has demonstrated robust financial performance. In FY25, the company reported a 61% year-on-year jump in revenue, reaching Rs 7,126 crore. Profit after tax (PAT) climbed to Rs 223 crore, up from Rs 164 crore in FY24. Meanwhile, EBITDA increased to Rs 369 crore, indicating improved operational efficiency and healthy margins.
Valuation and Future Growth Drivers
Based on FY25 earnings, the IPO is valued at a price-to-earnings (P/E) ratio of 35.9x, which analysts regard as fully priced. Despite this, the company’s growth strategy appears compelling. Jain Resource Recycling is pursuing forward integration into copper cathode and wire rod manufacturing. It is also entering new recycling verticals, such as solar panel and automotive tyre recycling, which offer promising growth potential.
These initiatives are expected to enhance the company’s long-term earnings visibility and solidify its position in the rapidly evolving circular economy and green metals space.
Analyst Recommendations and Market Sentiment
Brokerage house Anand Rathi has issued a “Subscribe – Long Term” rating for the IPO. The firm cited Jain Resource Recycling’s strong global footprint, leadership in domestic recycling, and consistent financial performance as key strengths. While acknowledging the relatively high valuation, the report emphasized the company’s potential in emerging recycling technologies and sustainability-focused sectors.
“Jain Resource Recycling is well-positioned to tap into opportunities in green metals and emerging recycling technologies, thanks to its deep expertise in the sector,” the brokerage noted.
The issue is being managed by ICICI Securities, Motilal Oswal Investment Advisors, and PL Capital Markets, with KFin Technologies acting as the registrar. Jain Resource Recycling shares are scheduled to list on both the BSE and NSE on October 1, 2025.
as a Reliable and Trusted News Source(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)