Ace investor Ashish Kacholia has added another winner to his portfolio, with Jain Resource Recycling Ltd delivering sharp gains post its market debut. The stock, which listed at a premium, has rallied 41% from its IPO price of ₹232, taking Kacholia’s 1.14% pre-IPO stake to a valuation of about ₹128 crore.
Kacholia, known for his early bets on scalable industrial and manufacturing businesses, was among the select investors allotted shares ahead of the IPO. The strong post-listing performance underscores both his stock-picking acumen and the market’s appetite for sustainable, metal-focused businesses.
Strong Institutional Interest
The Jain Resource Recycling IPO drew heavy demand from institutional buyers, with the qualified institutional buyers (QIB) category subscribed 27 times. The robust response reflected rising investor interest in the metal recycling and gold refining space, driven by regulatory support for circular economy initiatives and growing industrial demand for recycled materials.
“Jain Recycling has carved a niche in the recovery and refining of precious and non-ferrous metals,” said a senior fund manager at a domestic mutual fund. “Its business model fits well with the sustainability theme, while the gold refining segment offers steady cash flows.”
Sector Tailwinds and Growth Outlook
Jain Recycling operates across the recycling of non-ferrous metals and refining of gold recovered from industrial and electronic waste. The company has benefited from the government’s push toward resource efficiency and environmental compliance in manufacturing.
Analysts expect margins to remain robust as Jain Recycling expands capacity and strengthens sourcing channels. With growing institutional ownership post-listing, the counter has emerged as one of the stronger performers among recent mid-sized IPOs.
Data Table: Jain Recycling – Key Metrics
| Metric | Figure | Comment |
|---|---|---|
| IPO Price | ₹232 | Listed at premium |
| Current Price | ₹327 | Up 41% from IPO |
| Ashish Kacholia’s Stake | 1.14% | Pre-IPO allotment |
| Value of Holding | ₹128 crore | Based on current price |
| QIB Subscription | 27× | Heavy institutional demand |
| Core Business | Metal recycling & gold refining | Growing sustainability play |
Investor Takeaway
Kacholia’s investment reinforces the rising relevance of the recycling industry within India’s manufacturing landscape. The market’s response to Jain Resource Recycling indicates investors are rewarding businesses that align profitability with sustainability.
As one market observer put it: “In Jain Recycling, investors are seeing both metal — and mettle.”
