Jain Metal Group, a leading non-ferrous metal and plastic recycling company, is gearing up to launch its flagship company, Jain Resource Recycling, on the stock market within the next two years. The Chennai-based firm has allocated $50 million for an extensive expansion venture across India and Sri Lanka, as well as for exploring new recycling initiatives.
Mayank Pareek, the Managing Director of the Group, stated, “The IPO is a key step towards securing funding for our future growth, and we are actively considering it. We are currently in internal discussions about the size and timing of the IPO, and we will make a decision and announce our plans in due course.”
The proposed IPO will supplement the $50 million already set aside for expansion. Pareek added, “We have multiple projects in the pipeline, and our funding needs may increase. If the IPO comes to fruition, it will provide us with new financial opportunities. While everything is still in the discussion phase, we aim to enter the market within the next couple of years.”
In line with the evolving recycling industry, Jain Metal Group is also looking into opportunities in EV battery recycling, tyre recycling, solar panel recycling, and e-waste recycling.
The $50 million investment, to be implemented over the next two to three years, will be utilized for incorporating new recycling lines for various materials, generating value-added products beyond feedstock production, and expanding into titanium mining and manufacturing operations in Sri Lanka. Additionally, the investment will support the advancement of core recycling technologies, with a targeted capacity of 240,000 tonnes per annum for heavy mineral extraction.
The group anticipates that the revenue from its Indian operations will increase to ₹6,400 crore in FY25, up from ₹4,500 crore in FY24. When including its global operations, such as the UAE business, total revenue is forecasted to reach ₹7,200 crore in FY25.
Established in the 1950s, Jain Metal Group initially focused on brass and copper rolling before diversifying into aluminium and steel over the past 75 years. It has solidified its position as a prominent player in large-scale non-ferrous metal and plastic recycling. Recent expansions include ventures into aluminium recycling and technological investments for processing plastic scrap.
The group operates through three entities. Jain Resource Recycling Private Ltd, the flagship company, was originally founded as Jain Metal Rolling Mills in 1954 and later restructured as a private limited company in 2022. Another entity, Jain Green Technologies Private Ltd, specializes in producing recycled-content aluminium alloys. The group’s overseas ventures comprise titanium mining in Sri Lanka and gold refining in the UAE.
