Divyadhan Recycling Industries Lists at ₹84, Offering 31.25% Premium in Strong Market Debut – Details Inside!Divyadhan Recycling Industries Lists at ₹84, Offering 31.25% Premium in Strong Market Debut – Details Inside!

Shares of Divyadhan Recycling Industries made a strong debut on October 4, listing at Rs 84, a 31.25% premium over the issue price of Rs 64, outperforming grey market expectations, where no premium was anticipated.

The Rs 24.17 crore IPO of Divyadhan Recycling Industries, a fresh issue of 37.76 lakh shares, was subscribed 41 times in three days. Non-institutional investors led with 76 times their reserved portion, while retail investors and QIBs subscribed 32 and 29 times, respectively.

The company manufactures recycled polyester staple fibre (R-PSF) and pellets from post-consumer PET bottles. Since starting operations in FY 2018-19 at its Baddi facility, it produces both Hollow and Solid R-PSF, which are used in premium pillows, cushions, and quilts, serving industries like packaging, home furnishings, and textiles, with FSSAI guidelines for recycled PET in food packaging.

The objective of Divyadhan Recycling Industries’ IPO is to raise Rs 24.17 crore for business expansion, working capital requirements, and general corporate purposes, supporting the company’s growth and strengthening its financial position in the recycling industry.