Jain Resource Recycling IPO
Bookbuilding IPO | ₹1,250.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Sep 24, 2025
IPO Close
Fri, Sep 26, 2025
Price Band
₹220.00 to ₹232.00
Market Cap (Pre-IPO)
₹8,005.99 Cr
IPO Details
| IPO Date | Sep 24, 2025 to Sep 26, 2025 |
| Listing Date | Tentative: Oct 01, 2025 |
| Face Value | ₹2.00 per share |
| Price Band | ₹220.00 to ₹232.00 |
| Lot Size | 64 Shares (Minimum: ₹14,848.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹1,250.00 Crores |
| Total Shares Offered | 53,879,309 shares |
| Fresh Issue | 21,551,724 shares |
| Offer For Sale | 32,327,585 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 26.67x |
| NII | 5.59x |
| RII | 3.81x |
| Total | 16.76x |
Jain Resource Recycling IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 4,04,09,483 (75.00%) |
| Retail Shares Offered | 53,87,930 (10.00%) |
| NII Shares Offered | 80,81,896 (15.00%) |
Jain Resource Recycling IPO Lot Size
Investors can bid for a minimum of 64 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 64 | ₹14,848 |
| Retail (Max) | 13 | 832 | ₹193,024 |
| S-HNI (Min) | 14 | 896 | ₹207,872 |
| S-HNI (Max) | 67 | 4,288 | ₹994,816 |
| B-HNI (Min) | 68 | 4,352 | ₹1,009,664 |
Jain Resource Recycling Financial Information (Restated Consolidated)
Jain Resource Recycling Ltd.'s revenue increased by 60% and profit after tax (PAT) rose by 36% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 1,836.24 | 1,528.76 | 1,115.96 |
| Total Income | 7,162.15 | 4,484.84 | 3,107.53 |
| Profit After Tax | 223.29 | 163.83 | 91.81 |
| EBITDA | 368.58 | 227.22 | 124.18 |
| NET Worth | 707.46 | 367.18 | 196.97 |
| Reserves and Surplus | 660.01 | 328.13 | 161.30 |
| Total Borrowing | 919.92 | 909.38 | 732.79 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 40.77% |
| ROCE (Return on Capital Employed) | 24.22% |
| Debt/Equity | 0.92 |
| RoNW (Return on Net Worth) | 41.56% |
| PAT Margin (Profit After Tax Margin) | 3.13% |
| EBITDA Margin | 5.17% |
| Price to Book Value | 20.44 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.90 | 6.47 |
| P/E (x) | 33.62 | 35.86 |
| Promoter Holding | 89.96% | 74.97% |
Company Promoters
- Kamlesh Jain is the company promoter.
Company Overview
Incorporated in 2022, Jain Resource Recycling Limited is engaged in the recycling and manufacturing of non-ferrous metal products. Its product portfolio includes lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys.
The company operates three recycling facilities located at SIPCOT Industrial Estate, Gummidipoondi, Chennai. These facilities process various types of metal scrap, including copper (birch, druid), lead (radio, relay, rains, rinks), and aluminium (tread, talon, tense). A gold refining facility in Sharjah Airport International Free Zone (SAIF-Zone), UAE, through its subsidiary JIGV.
Jain Resource Recycling Limited supplies its products to sectors such as lead-acid battery, electrical and electronics, pigments, and automotive. Clients include domestic and international companies such as Vedanta Limited-Sterlite Copper, Luminous Power Technologies Private Limited, Yash Resources Recycling Limited, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.
Products Portfolio:
- Lead & Lead Alloy Ingots
- Copper & Copper Ingots
- Aluminium & Aluminium Alloys
- Tin Ingots
- Plastic
The company has a presence in global markets including Singapore, China, Japan, and South Korea.
As of July 31, 2025, the company had a total of 411 permanent employees.
Company Strengths
- Track record of profitability and consistent financial performance in an industry with significant entry barriers.
- Strategically located Recycling Facilities with capabilities to handle multiple products lines.
- Strong customer base with global footprint and deep sourcing capabilities.
- Application of Hedging Mechanism for Commodity Price Risk Protection for Products
- Experienced management team and qualified personnel with significant industry experience.
Use of Proceeds
| 1) | Pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company. | 375.00 |
| 2) | General corporate purposes. | 59.11 |
I
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Jain Resource Recycling IPO Peer Comparison
Jain Resource Recycling peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Jain Resource Recycling Ltd. | 7.16 | 7.16 | 21.87 | 0.00 | 41.56 | 0.00 | - |
| Gravita India Limited | 45.11 | 45.11 | 273.04 | 37.67 | 22.33 | 6.22 | - |
| Pondy Oxides & Chemicals Limited | 22.03 | 21.08 | 205.26 | 55.24 | 12.71 | 5.68 | - |
Quick Info
| Sector | Metals & Mining |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹8,005.99 Cr |
Important Dates
| IPO Open | Sep 24, 2025 |
| IPO Close | Sep 26, 2025 |
| Allotment Date | Sep 29, 2025 |
| Credit to Demat | Sep 30, 2025 |
| Listing Date | Tentative: Oct 01, 2025 |
Lead Manager(s)
Dam Capital Advisors Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- Jain Resource Recycling Ltd. IPO is a book build issue of ₹1,250.00 crores. The issue is a combination of fresh issue of 2.16 crore shares aggregating to ₹500.00 crores and offer for sale of 3.23 crore shares aggregating to ₹750.00 crores.
- Jain Resource Recycling IPO bidding started from Sep 24, 2025 and ended on Sep 26, 2025. The allotment for Jain Resource Recycling IPO was finalized on Sep 29, 2025. The shares got listed on BSE, NSE on Oct 1, 2025.
- Jain Resource Recycling IPO price band is set at ₹232.00 per share . The lot size for an application is 64. The minimum amount of investment required by an retail is ₹14,848 (64 shares) (based on upper price). The lot size investment for sNII is 14 lots (896 shares), amounting to ₹2,07,872, and for bNII, it is 68 lots (4,352 shares), amounting to ₹10,09,664.