Half a century for Ashish Kacholia: Jain Resource Recycling is 50th stock, importance now that RS is worth 128 crore

ACE investor Ashish Kacholia has hit half a century with the addition of a new share to his portfolio in the quarter of September. He took Jain Resource Recycling, a smallcap share that made its market debut on 1 October. According to the Red Herring Prospectus (RHP) of the company, the shares were assigned to Bengal Finance & Investment PVT LTD-an entity associated with Kacholia, in a pre-ipo offer. With this investment he is among the top 10 shareholders of the company.

After the company’s offer, the importance of Ashish Kacholia is 1.14%, which, according to BSE shares, represents 39.16.875 shares for the quarter of BSE for the quarter of September.

Shares of Jain Resource Recycling were noted at a premium of 14% on RS 265 compared to the IPO price of RS 232. The share has already risen 41% on the issue price at RS 326.90 and today settled with an increase of 5%.

The RS 1,250 Crore IPO, which ran between 24 and 26 September, was a mix of a new number of RS 500 Crore and an offer for sale worth RS 750 Crore. The reaction of investors was strong, with the issue in general in general.

Institutional buyers drove most of the demand and subscribed almost 27 times their reserved part. Non-institutional investors subscribed 5.6 times, while retail investors entered 3.8 times. Prior to the issue, the company had also collected RS 562.5 Crore from Anchor Investors, an obligation that contributed to confidence.

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Jain Resource Recycling is involved in recycling and production of non-ferrous metals such as lead, copper and aluminum. The company has three recycling facilities near Chennai and also has a gold refining unit in the VAE through a subsidiary.

The customer base includes large domestic and global names such as Vedanta, Luminous Power, Mitsubishi Corporation and Nissan Trading. With export to markets such as Singapore, China, Japan and South Korea, the company has built up a footprint in just three years of operations.

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The current value of the importance of Kacholia in the company is around RS 128 Crore.

Kacholia mentions the ‘Big Whale’ lovingly and publicly owns 50 shares with a net value of more than RS 2,894 Crore, according to Trendlyne.
Other shares of Kacholia are brand concepts, agarwal industrial, jyoti structures, male industries, tanfac industries, Thomas Scott, XPRO, Shaly Engineering, Safari Industries, Faze Three and Balu Forge.

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