Jain Resource Recycling IPO
Jain Resource Recycling Limited (JAINREC) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 01 October 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +9.4% (likely range +8% to +12%), day's high +11.8%, chance of a gain 82%. Actual: +14.2% at the open, +37.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,70,45,454 | 43,10,49,600 | 25.3x | |
| NII (HNI) total | 85,22,727 | 4,51,44,896 | 5.30x | |
| Big NII (above ₹10 lakh) | 56,81,818 | 2,96,40,576 | 5.22x | |
| Small NII (₹2-10 lakh) | 28,40,909 | 1,55,04,320 | 5.46x | |
| Retail | 56,81,818 | 2,05,50,848 | 3.62x | |
| Total | 3,12,49,999 | 49,67,45,344 | 15.9x |
Bids on NSE and BSE together, as published by NSE, as of 26 Sep 2025, 07:00 PM. Shares offered exclude the anchor portion. 3% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Jain Resource Recycling's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Brainbees SolutionsAug 2024 | 19.3x | 4.68x | 2.31x | 12.2x | ₹4,194 Cr | +40.0% | +52.2% |
| PB FintechNov 2021 | 24.9x | 7.82x | 3.31x | 16.6x | ₹6,224 Cr | +17.4% | +27.4% |
| Zaggle Prepaid Ocean ServicesSep 2023 | 16.7x | 8.85x | 5.94x | 12.6x | ₹574 Cr | 0.0% | +7.3% |
| Rainbow Childrens MedicareApr 2022 | 38.9x | 3.73x | 1.38x | 12.4x | ₹1,581 Cr | -5.9% | -4.5% |
| Gopal SnacksMar 2024 | 17.5x | 9.50x | 4.01x | 9.02x | ₹685 Cr | -12.5% | -4.0% |
| Sai Life SciencesDec 2024 | 30.9x | 4.92x | 1.37x | 10.3x | ₹3,011 Cr | +18.4% | +42.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| DAM Capital Advisors | 37 | +13.6% | 59% |
| ICICI Securities | 109 | +21.3% | 69% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| PL Capital Markets | 4 | +12.5% | 75% |
Offer documents (NSE)
Frequently asked
What is the Jain Resource Recycling IPO price band and lot size? ₹220–232 per share, with a lot of 64 shares, so the smallest retail bid is ₹14,848.
How many times has it been subscribed? 15.9x overall: QIB 25.3x, NII 5.30x, retail 3.62x.
How did it list? It opened at ₹265, +14.2% against the issue price of ₹232, and closed its first day +37.1%.
