Jain Resource Recycling Ltd. makes a strong debut on the bourses with scrip got listed at Rs 265.25 on the Bombay Stock Exchange, a 18.41 per cent premium to its issue price of Rs 224.00. On the National Stock Exchange, the stock was listed at Rs 265.05.
The company, which raised 5.39 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 538.79 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Sep 24 to Sep 26.
Following a strong opening, the scrip touched an intraday high of Rs 318.25 and a low of Rs 247.80, before closing the session up by 42.07 per cent to its listing price at Rs 318.25 on the BSE.
The company anticipates using the proceeds of the issue for .
ICICI SECURITIES LTD,Motilal Oswal Investment Advisors Limited,PL Capital Markets Pvt. Ltd.,DAM Capital Advisors Ltd. as lead managers & is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 80,983.31, up 715.69 points, or 0.89 per cent.