Jain Resource Recycling Ltd Soars with 14% Premium Debut
Jain Resource Recycling Ltd's shares debuted with over 14% premium on Wednesday. Opening at Rs 265.25 on the BSE, the stock soared above its issue price of Rs 232. The IPO, oversubscribed by 15.90 times, aimed to address debt concerns and support corporate growth.
- Country:
- India
On Wednesday, Jain Resource Recycling Ltd's shares debuted with a substantial premium of over 14 percent against their issue price of Rs 232.
The stock opened at Rs 265.25 on the BSE, registering a rise of 14.33 percent, while at the NSE, it started at Rs 265.05, showing a 14.24 percent increase.
The company's IPO, which was oversubscribed 15.90 times, will help pay off debts and fund general corporate purposes. Engaged in recycling non-ferrous metals, Jain Resource Recycling's market valuation soared to Rs 9,303.51 crore.
(With inputs from agencies.)
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