Chennai-based Jain Resource Recycling Ltd is set to open its ₹1,250 crore initial public offering (IPO) on September 24, Wednesday. The price band for the shares is set between ₹220 and ₹232 each, with the anchor investor bidding date scheduled for September 23. The IPO will close on September 26. Bids can be placed for a minimum of 64 equity shares, with further bids available in multiples of 64 shares.
The total offer size includes equity shares with a face value of ₹2 each, totaling up to ₹1,250 crore. This is comprised of a fresh issue of equity shares valued at up to ₹500 crore and an offer for sale (OFS) worth up to ₹750 crore. The OFS includes shares worth up to ₹715 crore from Kamlesh Jain, the Promoter Selling Shareholder, and up to ₹35 crore from Mayank Pareek, the Other Selling Shareholder.
According to Kamlesh Jain, Managing Director of Jain Resource Recycling Ltd, the net proceeds from the fresh issue will be used primarily for the pre-payment or scheduled repayment of a portion of the company’s outstanding borrowings, estimated at ₹375 crore, with the remaining funds allocated for general corporate purposes.
Jain Resource Recycling Ltd specializes in the recycling and production of non-ferrous metals such as lead and copper, operating vertically integrated processes. The company has a production capacity of 308,306 tonnes per annum.
Of its total annual revenue, which amounts to ₹7,000 crore, 39% is generated in India, with 18% from Singapore, 19% from China, 10% from the UAE, and 9% from Taiwan. Major clients include Vedanta Sterlite Copper, Nissan, and Mitsubishi Corporation.
This announcement was published on September 19, 2025.
