IPO Details

Bidding Dates

24 Sep '25 - 26 Sep '25

Minimum Investment

₹14,848/ 1 Lot (64 Shares)

Price Range

₹220 to ₹232

Maximum Investment

₹1,93,024 / 13 Lots (832 Shares)

Retail Discount

To be announced

Issue Size

₹1,250 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

Jain Resource Recycling IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 24, 25

IPO Closing Date

Sep 26, 25

Basis of Allotment

Sep 29, 25

Initiation of Refunds

Sep 30, 25

IPO Listing Date

Oct 01, 25

Jain Resource Recycling IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 23, 2025

 0.00 0.01 0.05 0.01

About Jain Resource Recycling

Jain Resource Recycling IPO is a book build issue of ₹1,250 crore. The issue is a combination of fresh issue of 2.16 crore shares aggregating to ₹500 crore and offer for sale of 3.23 crore shares aggregating to ₹750 crore.

The IPO opens for subscription on September 24, 2025 to September 26, 2025.

The basis of allotment is expected to be finalised on September 29, 2025. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of October 1, 2025. The issue price for Jain Resource Recycling IPO has been fixed at ₹220 to ₹232 per share.

The lot size is set at 64 shares. A retail investor is required to make a minimum investment of ₹14,848 for 64 shares. For High Net-worth Individuals (HNIs), the minimum application is for 13 lots or 832 shares, amounting to ₹2,07,872.

Dam Capital Advisors Ltd is the book running lead manager and Kfin Technologies Ltd is the registrar of the issue. Refer to Jain Resource Recycling IPO RHP for complete details.

Jain Resource Recycling IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Upto ₹3,750.00 million will be allocated for the pre-payment or scheduled re-payment of certain outstanding borrowings availed by the company.
  2. The balance amount will be used for general corporate purposes.

About Jain Resource Recycling Limited

Jain Resource Recycling Limited, part of the Jain Metal Group, is engaged in the recycling and production of non-ferrous metals in India. The Group has developed capabilities to handle multiple products in recycling at a single location and maintains an extensive global network for sourcing recyclable materials.

The company primarily focuses on manufacturing non-ferrous metal products by recycling non-ferrous metal scrap. Its product portfolio includes (i) lead and lead alloy ingots, (ii) copper and copper ingots, and (iii) aluminium and aluminium alloys.

Notably, Jain Resource Recycling’s lead ingot is registered as a brand by the London Metal Exchange (LME), which gives it the advantage of access to a broader international customer base. This registration also allows the company to supply products that comply with international quality standards while benefiting from LME reference pricing in global markets.

The company also partnered with M/s Ikon Square Limited UAE (ISL) through the acquisition of a 70% stake in Jain Ikon Global Ventures (FZC), a free zone company registered in Sharjah, UAE. This subsidiary was established for setting up a gold refining facility, which commenced operations in August 2024.

However, refining operations of gold and its by-product silver were discontinued from April 17, 2025, due to low margins, high operational overheads, working capital constraints, and volatility in the gold refining sector.

Additionally, Jain Resource Recycling Limited is engaged in trading non-ferrous metals and other commodities, contributing 2.03%, 1.98%, and 4.50% of revenue from operations in Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively.

As of July 31, 2025, its Recycling Facilities operated at a combined actual production of 64,619 MTPA, while the Hosur Facility reported an actual production of 88 MTPA. The Refining Facility, on the other hand, recorded 28 MTPA production as of March 31, 2025, but stood at 0 MTPA by July 31, 2025, due to the closure of precious metal refining operations.

Industry Outlook

  1. India’s copper demand is expected to rise steadily from 1,522 kT in FY23 to 2,460–2,560 kT by FY30, reflecting a CAGR of 6.8–7.6%.
  2. The share of secondary copper in total demand has grown from 24% in FY19 to 38% in FY23, and is projected to touch 55% by FY30, driven by sustainability and recycling.
  3. Lead demand in India is forecast to grow at a CAGR of 5.4–6.4%, reaching 1.9–2.0 million tonnes by FY30, making it a resilient segment.

How To Apply for the Jain Resource Recycling IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Jain Resource Recycling IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Jain Resource Recycling IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Jain Resource Recycling Limited

Registered office: The Lattice, Old no 7/1, New No 20, 4th Floor, Waddles Road, Kilpauk, Chennai, Tamil Nadu – 600010, India

Phone: 044 4340 9494

E-mail: cs@jainmetalgroup.com

Jain Resource Recycling IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not less than 75% of the Offer

Retail Shares Offered

Not more than 10% of the Offer

NII Shares Offered

Not more than 15% of the Offer

Jain Resource Recycling IPO Lot Size Details

Application

Lots

Shares

Amount

Individual investors (Retail) (Min)

1

64

₹14,848

Individual investors (Retail) (Max)

13

832

₹1,93,024

HNI (Min)

14

896

₹2,07,872

Jain Resource Recycling IPO Promoter Holding

Kamlesh Jain is the promoter of the company

Share Holding Pre-Issue

89.96%

Share Holding Post Issue&nbsp

  

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for Jain Resource Recycling IPO

KPI

Value

RoCE (%)

24.22

Debt/Equity&nbsp

0.92

RoNW (%)

41.56

PAT Margin (%)

3.13

EBITDA Margin (%)

5.17%

Jain Resource Recycling IPO Prospectus

Jain Resource Recycling IPO Registrar and Lead Managers

Jain Resource Recycling IPO Lead Managers

  • Dam Capital Advisors Ltd
  • ICICI Securities Ltd
  • Motilal Oswal Investment Advisors Ltd
  • PL Capital Markets Pvt Ltd

Registrar for Jain Resource Recycling IPO

Kfin Technologies Ltd

Financial Performance of Jain Resource Recycling Limited

Particulars Year ending on Mar 31, 2025 Year ending on Mar 31, 2024 Year ending on Mar 31, 2023
Revenue from Operations (₹ million) 71,257.68 44,284.18 30,640.71
EBITDA (₹ million) 3,685.82 2,272.18 1,241.76
Profit / Loss After Tax (₹ million) 2,232.87 1,638.27 918.10
PAT Margin (%) 3.13 3.70 3.00
Return on Equity (RoE) (%) 40.77 57.66 59.94
Net Worth (₹ million) 7,074.58 3,671.81 1,969.73

Know before investing

Strengths

8

  1. Flexible multi-purpose facilities enable manufacturing of diverse products and customisation as per customer needs.

  2. Strong presence in domestic and international markets through recycling of lead, copper, aluminium, and expansion into gold refining.

  3. Vertically integrated recycling operations with efficient supply chain and reduced sales concentration risk.

  4. Recognized brand advantage with LME and MCX registrations for refined lead ingots, boosting global and domestic credibility.

  5. State-of-the-art facilities near key ports like Ennore, Kaatupalli, and Chennai support efficient imports and exports.

  6. Sustainable operations with zero discharge, 100% recycling, and use of green power for manufacturing.

  7. New revenue opportunities from gold refining in UAE and India, and mineral processing in Sri Lanka with favorable margins.

  8. Growth potential in emerging scrap markets such as solar panel, automotive tyres, copper-aluminium radiators, brass, and e-waste recycling.

Risks

8

  1. Using low-quality domestic scrap can lead to operational inefficiencies, higher production costs, and lower-grade end products.

  2. Heavy focus on lead, copper, and aluminum makes the company vulnerable to market fluctuations or downturns in these metals.

  3. The business requires significant working capital, while margins remain modest, limiting financial flexibility.

  4. Reliance on imported copper and aluminum scrap exposes the company to supply chain disruptions and global market volatility.

  5. Fluctuations in metal prices and exchange rates can impact profitability due to reliance on imports.

  6. Strict and evolving environmental regulations could increase operational costs and require continuous investment in compliance.

  7. Domestic and international competitors with advanced technologies may challenge market share and profitability. Exposure to global trade policies, tariffs, and potential export restrictions could affect raw material sourcing and product exports.

  8. Strict and evolving environmental regulations could increase operational costs and require continuous investment in compliance. Domestic and international competitors with advanced technologies may challenge market share and profitability. Exposure to global trade policies, tariffs, and potential export restrictions could affect raw material sourcing and product exports.

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Jain Resource Recycling Limited Peer Comparison

Company Basic EPS (₹) Return on Net Worth (%)
Jain Resource Recycling Limited 7.16 41.56
Gravita India Limited 45.11 22.33
Pondy Oxides & Chemicals Limited 22.03 12.71

Jain Resource Recycling IPO FAQs

What is the Jain Resource Recycling IPO? 

Jain Resource Recycling IPO is a book build issue IPO. It runs from September 24, 2025, to September 26, 2025. 

When will the Jain Resource Recycling IPO be allotted? 

The Basis of Allotment will happen on Monday, September 29, 2025.  

When will the Jain Resource Recycling IPO open for subscription? 

The IPO subscription window will open on September 24, 2025. 

What minimum lot size can retail investors subscribe to? 

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 64 shares. 

When will the Jain Resource Recycling IPO list on exchanges? 

The listing date for Jain Resource Recycling IPO is Wednesday, October 1, 2025. 

What is the issue size of the Jain Resource Recycling IPO? 

The issue size of the Jain Resource Recycling IPO is ₹1,250 crore. 

What are the open and close dates of the Jain Resource Recycling IPO? 

The open and close dates for Jain Resource Recycling IPO are from September 24, 2025, to September 26, 2025. 

What would be the listing gains on the Jain Resource Recycling IPO? 

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

When will I know if my Jain Resource Recycling IPO order is placed? 

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Jain Resource Recycling IPO? 

Kfin Technologies Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Jain Resource Recycling IPO getting listed? 

The Jain Resource Recycling IPO is proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). 

How to increase your chances of getting a Jain Resource Recycling IPO allotment? 

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Jain Resource Recycling IPO? 

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Jain Resource Recycling IPO using one PAN? 

You can submit only one application using your PAN card. 

How to read Jain Resource Recycling Limited's financial statements? 

To read Jain Resource Recycling Limited’s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for the Jain Resource Recycling IPO? 

Pre-apply allows investors to apply for the Jain Resource Recycling IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Jain Resource Recycling IPO, when will my order get placed? 

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.