Jain Resource gains 37% on debut; Epack, BMW Ventures end weak

It was a mixed bag day for new listings, with shares of Jain Resource Recycling surging 37 per cent, while those of Epack Prefab Technologies and BMW Ventures ended below their IPO price. 

 

Jain Resource stock ended at ₹318, up 37.2 per cent over its issue price. At the last close, the company was valued at nearly ₹11,000 crore. Jain Resource’s ₹1,250 crore IPO was subscribed over 16 times. The company is engaged in the recycling and manufacturing of non-ferrous metal products.

 

Meanwhile, shares of Epack Prefab ended 6.3 per cent below their issue price of ₹191. At the last close, the company was valued at ₹1,920 crore. The company’s ₹504 crore IPO had garnered 3 times subscription. Epack Prefab is involved in building pre-engineered steel and prefabricated structures.

 

BMW Ventures’ shares closed 23 per cent lower at ₹76 apiece, which values the firm at ₹660 crore. The company’s ₹232 crore IPO sailed through with 1.5 times subscription. BMW Ventures primarily trades in steel products, tractor engines and spare parts.

 

Of the 47 mainboard listings so far in this calendar year, 23 have listed at a discount.