Synopsis: Jain Resource Recycling Ltd has fixed the price band of its ₹1,250 crore IPO at ₹220–₹232 per share. The issue opens on September 24 and closes on September 26, comprising a fresh issue of ₹500 crore and an offer-for-sale (OFS) of ₹750 crore.
Jain Resource Recycling Ltd has announced the price band for its upcoming Initial Public Offering (IPO), set between ₹220 and ₹232 per equity share. The issue will open for subscription on September 24 and close on September 26, 2025.
Through the IPO, the company seeks to raise ₹1,250 crore, consisting of a fresh issue worth ₹500 crore and an offer-for-sale (OFS) of ₹750 crore by existing shareholders.
Use of Proceeds
According to the red herring prospectus, proceeds from the fresh issue will be deployed as follows:
- ₹375 crore towards repayment of existing borrowings
- Balance for general corporate purposes, including strengthening operational capacity and supporting growth strategies
Company Background
Founded in 1953 as Jain Metal Rolling Mills, the company evolved over decades before being formally incorporated as a private limited entity on February 25, 2022. Today, Jain Resource Recycling specializes in procurement and recycling of non-ferrous metal scrap—including copper, lead, aluminium, and select precious metals.
The company sources 77% of its scrap from imports and the rest domestically. Its processed products—copper cathodes, lead ingots, and aluminium products—are sold both in India and abroad, with exports contributing about 60% of revenue.
Jain Resource Recycling operates three recycling facilities and one segregation unit, all located in South India. Its peers include Gravita India and Pondy Oxides & Chemicals.
Industry Positioning
With a legacy spanning more than seven decades, the company is positioning itself as a key player in India’s growing circular economy, tapping into demand for sustainable raw materials both domestically and globally.
Summary:
Jain Resource Recycling Ltd has set the IPO price band at ₹220–₹232 per share, aiming to raise ₹1,250 crore through a mix of fresh issue and OFS. Proceeds will primarily be used to repay debt and fund corporate needs. Established in 1953, the company is a major player in non-ferrous metal recycling, with exports making up 60% of revenue.
Disclaimer:
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