Divyadhan Recycling Soars 31% in Market Debut!

Divyadhan Recycling Industries IPO Listing Details:

IPO Listing Date: The Divyadhan Recycling Industries had its IPO listing on October 4, 2024.
Listing Price: Its shares were listed at ₹84, 31.25% above the issue price of ₹64.
IPO Issue Details:
Issue Period: IPO is open for subscription from September 26, 2024, to September 30, 2024.
Issue Size: The total issue size aggregates to ₹ 24.17 crores, which is a fresh issue of 37.76 lakh shares.
Price Band: Share price between ₹60 to ₹64 per share.
Lot Size: Minimum application lot size has been stipulated at 2,000 shares which would attract a minimum investment of ₹128,000.
Subscription: The IPO was subscribed more than 38 times. It was phenomenal interest received from all categories of applicants, especially retail investors.
**Company Overview: The Company Divyadhan Recycling Industries manufactures Recycled Polyester Staple Fibre and Recycled Pellets. The company is primarily into sustainability, recycling post-consumer PET bottles. The company is based out of Baddi, Himachal Pradesh, with Quality and Environmental Management System certifications.
Use of Proceeds: The net proceeds shall be used for purchase of plant and machinery, and there shall be application towards general corporate purposes not exceeding 25% of the net proceeds.
Market Sentiment As per X posts, there was much excitement surrounding listing as users were discussing the premium at which the shares listed compared to the issue price.

The listing of the IPO shows investors’ confidence in investment in Divyadhan Recycling Industries, as the company has shown sustainable improvements and growth in the recycling industry.