In 2025, India’s IPO market continues to see significant investor activity, with niche sectors tapping capital markets. Jain Resource Recycling Limited, a leading player in non-ferrous metal sector, is set to open its IPO on September 24, 2025, providing investors with an opportunity to participate in a growing industry with strong domestic and international demand.
About Jain Resource Recycling Ltd.
Incorporated in 2022, Jain Resource Recycling Limited specialises in recycling and manufacturing non-ferrous metal products, including:
- Lead & Lead Alloy Ingots
- Copper & Copper Ingots
- Aluminium & Aluminium Alloys
- Tin Ingots
- Plastic
The company operates three recycling facilities at SIPCOT Industrial Estate, Gummidipoondi, Chennai. It also has a gold refining facility in Sharjah Airport International Free Zone (SAIF-Zone), UAE, through its subsidiary JIGV.
Jain Resource Recycling serves multiple sectors such as lead-acid batteries, electrical & electronics, pigments, and automotive. Its client base spans domestic and international companies, including Vedanta Limited, Sterlite Copper, Luminous Power Technologies, Yash Resources Recycling, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.
As of July 31, 2025, the company employs 411 permanent employees.
Competitive Strengths:
- Consistent profitability and strong financial track record
- Strategically located recycling facilities with multi-product handling capability
- Strong global customer base and deep sourcing network
- Application of commodity price hedging mechanisms
- Experienced management team with extensive industry expertise
Jain Resource Recycling IPO Details
The Jain Resource Recycling IPO is a book-building issue of ₹1,250.00 crore, comprising a combination of fresh issue of 2.16 crore shares (₹500.00 crore) and offer for sale of 3.23 crore shares (₹750.00 crore).
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 24, 2025 |
| IPO Close Date | Sep 26, 2025 |
| Tentative Allotment | Sep 29, 2025 |
| Initiation of Refunds | Sep 30, 2025 |
| Credit of Shares to Demat | Sep 30, 2025 |
| Tentative Listing Date | Oct 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 26, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹2 per share |
| Issue Price Band | ₹220 – ₹232 per share |
| Lot Size | 64 Shares |
| Total Issue Size | 5,38,79,310 shares (₹1,250.00 Cr) |
| Fresh Issue | 2,15,51,724 shares (₹500.00 Cr) |
| Offer for Sale | 3,23,27,586 shares (₹750.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 32,35,34,090 shares |
| Shareholding Post-Issue | 34,50,85,814 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| QIB | Not less than 75% |
| Retail | Not more than 10% |
| NII | Not more than 15% |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 64 | ₹14,848 |
| Retail (Max) | 13 | 832 | ₹1,93,024 |
| S-HNI (Min) | 14 | 896 | ₹2,07,872 |
| S-HNI (Max) | 67 | 4,288 | ₹9,94,816 |
| B-HNI (Min) | 68 | 4,352 | ₹10,09,664 |
Promoter Holding:
- Promoter: Kamlesh Jain
- Pre-IPO: 89.96%
- Post-IPO: NA
Book Running Lead Manager: Dam Capital Advisors Ltd.
Registrar: Kfin Technologies Ltd.
Jain Resource Recycling Ltd.: Financials
Financial Highlights (₹ Crore):
| 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 & Surplus | 660.01 | 328.13 | 161.30 |
| Total Borrowing | 919.92 | 909.38 | 732.79 |
Key Performance Indicators (FY2025):
| KPI | Value |
| Market Capitalisation | ₹8,005.99 Cr |
| ROE | 40.77% |
| ROCE | 24.22% |
| Debt/Equity | 0.92 |
| RoNW | 41.56% |
| PAT Margin | 3.13% |
| EBITDA Margin | 5.17% |
| Price to Book Value | 20.44 |
| KPI | Pre-IPO | Post-IPO |
| EPS (₹) | 6.90 | 6.47 |
| P/E (x) | 33.62 | 35.86 |
Jain Resource Recycling IPO Objectives
| Object | Amount (₹ Million) |
| Pre-payment or scheduled repayment of certain outstanding borrowings | 3,750 |
| General corporate purposes | Balance |
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Jain Resource Recycling IPO: Peer Comparison
Jain Resource Recycling Ltd. can be compared with peers like Gravita India Ltd and Pondy Oxides & Chemicals Ltd to understand relative performance, valuation, and growth potential. Explore their pages for more insights.
Conclusion
Jain Resource Recycling Ltd. provides an opportunity to invest in a specialised non-ferrous metal recycling company with a robust domestic and international presence. Its strong financial performance, multi-product portfolio, and experienced management team make it an interesting investment option. Potential investors, however, should consider risks such as commodity price volatility, operational challenges in recycling, and dependence on key clients.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
