J B Ecotex IPO

J B Ecotex Ltd. IPO is a book built issue consisting of a fresh issue of ₹400.00 crores and an offer for sale (OFS) of up to 1.30 crore equity shares.

The equity shares are proposed to be listed on the National Stock Exchange of India and the BSE Limited. Motilal Oswal Investment Advisors Limited is the book running lead manager, and MUFG Intime India Private Limited is the registrar of the issue. Key details such as the IPO dates, IPO price band, and lot size are yet to be announced.

About J B Ecotex Limited

J B Ecotex Limited was originally established as a limited liability partnership under the name J B Ecotex LLP pursuant to a limited liability partnership agreement dated October 31, 2012, and commenced commercial operations in recycled polyester staple fibre in October 2015. The entity was subsequently converted into a public limited company under Chapter XXI of the Companies Act, 2013, and J B Ecotex Limited was incorporated on September 21, 2021.

The company is engaged in the recycling of post-consumer polyethylene terephthalate (PET) waste and manufactures recycled PET-based products for applications across textiles, food-grade packaging, and other industrial segments. Its product portfolio includes recycled polyester staple fibre, food-grade recycled PET resins, recycled PET flakes, and chemically recycled resins, with the latter manufactured using its proprietary chemical recycling technology to produce virgin-equivalent recycled PET for higher-value applications.

J B Ecotex operates two manufacturing facilities located adjacent to each other at Dhamdod, Surat, Gujarat, with a combined area of approximately 1.79 million square feet. The company serves a diversified customer base across India and international markets, with more than 700 customers across India and 25 other countries as of March 31, 2026. Its customers include Varun Beverages Limited and Moon Beverages Limited, while its raw material procurement network comprised more than 520 suppliers in Fiscal 2026.

J B Ecotex has also developed capabilities across both mechanical and chemical PET recycling and maintains certifications and approvals, including the United States Food and Drug Administration and Food Safety and Standards Authority of India approvals for food-grade recycled PET resins, Global Recycled Standard, OEKO-TEX Standard 100, and International Sustainability and Carbon Certification. Its manufacturing facilities also use zero liquid discharge systems and captive renewable power, with 63.52% of total power consumption in Fiscal 2026 coming from captive power generation and contracted renewable power sources.

Industry Outlook

• India’s rPET market is projected to grow from US$2.3 billion in FY26 to US$5.7 billion by FY31, implying a strong 20.0% CAGR, driven by sustainability commitments, regulatory shifts, and rising demand for recycled content.
• India’s rPET market volume is expected to increase from 1.8 million tonnes in FY26 to 4.0 million tonnes by FY31, representing a 17.3% CAGR, indicating significant expansion in recycled PET consumption.
• The Indian food-grade rPET resin market is projected to grow from US$378.4 million in FY26 to US$2.87 billion by FY31, registering a 49.9% CAGR, supported by EPR regulations and rising recycled-content requirements in food-contact packaging.
• Food-grade rPET resin volumes are expected to rise from 300.0 KT in FY26 to 2,210.7 KT by FY31, representing a 49.1% CAGR, with FSSAI approvals, beverage/FMCG commitments, and domestic recycling capacity expansion supporting growth.
• India’s chemically recycled PET resin market is estimated to increase from US$108.4 million in FY26 to US$283.0 million by FY31, implying a 21.2% CAGR, driven by investments in advanced recycling technologies and demand for high-purity recycled PET.
• The Indian chemically recycled PET resin market is projected to grow from 70.1 KT in FY26 to 150.4 KT by FY31, a 16.5% CAGR, while packaging’s share is expected to rise as virgin-equivalent quality enables food-grade and other high-value applications.
• India’s recycled filament yarn market is expected to expand from US$132.8 million in FY26 to US$297.4 million by FY31, translating into a 17.5% CAGR, supported by sustainable apparel, home textiles, and technical textile applications.
• In volume terms, India’s recycled filament yarn market is projected to rise from 117.3 KT in FY26 to 236.0 KT by FY31, a 15.0% CAGR, with Western India remaining the largest regional market and accounting for 40.1% of FY26 volume.

J B Ecotex IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• Repayment/pre-payment, in full or in part, of all or certain outstanding borrowings availed by the company and the material subsidiary.
• Utilise the remaining funds for general corporate purposes.

Financial Performance of J B Ecotex Limited

J B Ecotex Limited Peer Details Comparison