Jain Resource Recycling Sets Price Band at ₹220–₹232 Per Share for ₹1,250 crore Public Issue

Jain Resource Recycling Limited has finalised the price band for its upcoming Initial Public Offering (IPO), set between ₹220 and ₹232 per equity share. The public issue will open for subscription on September 24 and close on September 26. Through this IPO, the company aims to raise ₹1,250 crore, which includes a fresh issue of ₹500 crore and an offer-for-sale (OFS) component of ₹750 crore by existing shareholders.

Use of Funds

From the proceeds of the fresh issue, the company plans to allocate ₹375 crore towards repayment of existing borrowings, while the remaining funds will be used for general corporate purposes, including enhancing operational capabilities and supporting future growth strategies.

About the Company

Jain Resource Recycling was originally established in 1953 as Jain Metal Rolling Mills, a partnership firm. It was reconstituted over time and formally incorporated as a private limited company on February 25, 2022. The company specializes in the procurement and recycling of non-ferrous metal scrap, including copper, lead, aluminium, and select precious metals.

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Roughly 77% of its raw material (scrap metal) is imported, while the remaining 23% is sourced domestically. The company processes these metals into copper cathodes, lead ingots, and aluminium products, which are sold across domestic and international markets. Notably, exports contribute approximately 60% of the company’s total revenue.

Jain Resource Recycling operates three recycling facilities and one segregation unit, all located in South India. It competes in the market with peers such as Gravita India and Pondy Oxides & Chemicals.

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