New Delhi, Sept. 26 -- The initial public offer (IPO) of Jain Resource Recycling opened on September 42 and will close for subscription today, September 26.

The Rs.1,250 crore IPO, had fixed a price band in the range of Rs.220-232 apiece.

By the end of Day 2, the issue was subscribed 1.31 times. It received bids for 3.89 crore shares as against 2.96 crore on offer. The retail portion was subscribed 1.35 times while the non-institutional investors (NII) category was bid 0.52 times and the qualified institutional buyers (QIBs) quota was booked 1.70 times.

Jain Resource Recycling IPO is witnessing healthy interest in the grey market, with a grey market premium (GMP) of Rs.17. This suggests that the shares are trading above the issue price...