Jain Resource Recycling IPO

About the company

Jain Resource Recycling is engaged in the recycling and production of non-ferrous metals in India, with capabilities to handle multiple products in recycling at a single location and has an extensive global network for sourcing recyclable materials. It is primarily focused on the manufacturing of non-ferrous metal products by way of recycling of non-ferrous metal scrap. Its product portfolio comprises lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys. The company’s lead ingot is registered as a brand by the London Metal Exchange, which provides the company advantage of access to a broader customer base by offering products compliant with international quality standards. The copper and copper ingots segment contributed 44.82% of the revenue, followed by lead and lead alloy ingots contributing 39.46%, Aluminium & Aluminium Alloys 3.83%, and precious metals constituted 9.77% of the revenue in FY25. The company’s recycling operations are vertically integrated with end-to-end recycling processes wherein raw materials are procured both domestically and internationally. Over the last three years, it has sourced raw materials from more than 120 countries. The company operates through three recycling facilities located at SIPCOT Industrial Estate, Gummidipoondi, Chennai engaged in recycling: (i) copper scrap birch and copper scrap druid (ii) lead scrap including lead scrap radio, lead scrap relay, lead scrap rains, lead scrap rinks and copper scrap including copper scrap birch, copper scrap druid and (iii) aluminium scrap including aluminium scrap tread, aluminium scarp talon and aluminium scrap tense. Further, the company commenced gold refining operations through its subsidiary, JIGV at the facility situated at Sharjah Airport International Free Zone (SAIF-Zone), UAE from on August 19, 2024. As of July 31, 2025, the recycling facilities are operating with a combined actual production of 64,619 MTPA and the Hosur facility is operating with an actual production of 88 MTPA. However, the gold refining facility operated with the actual production of 28 MTPA as on March 31, 2025, and the actual production as on July 31, 2025, was 0 MTPA due to the closure of business operations for refining precious metals with effect from April 17, 2025, due to low margins, high operational overheads, and working capital constraints. The company caters to customers in various industries, including lead acid battery, electrical and electronics, pigments, and automotive. Its clientele includes Vedanta Limited-Sterlite Copper, Luminous Power Technologies Private Limited and Yash Resources Recycling Limited and global customers such as Mitsubishi Corporation RtM Japan and Nissan Trading Co. It has an extensive global footprint across major overseas geographies, including Singapore, China, Japan, Taiwan and South Korea. 39.61% of the revenue was generated from the sale of products domestically, and exports constituted 60.39% of the revenue from operations. Indian lead market continues to expand, with the demand for lead expected to grow at a CAGR of 5.4–6.4%, to reach 1.9-2.0 million tonnes (MT) by FY30. The volume of recycled lead is also expected to rise, thereby inducing increased recovery of tin as a by-product which can then be further refined and processed into tin ingots. Capitalising on this opportunity, the company commenced operations to extract tin and manufacture it into crude tin ingots of 99.5-99.8% purity level and lead tin (Pb) alloy solders/ingots. The market for recycling plastic waste stood at 9.71 MT in FY24 and is projected to rise at a CAGR of 11-12% to reach 18-19 MT from 2023 to 2030. With the aim of tapping this product segment, it has commenced recycling and manufacturing of PPVC granules and PVC granules from the recovered plastic, which would otherwise be disposed of as waste. The company is aiming to expand its product offerings by expanding into copper cathode, the purest form of copper, wire rod and copper busbar manufacturing business. It is also exploring new recycling domains such as solar panel recycling and e-waste recycling to better serve its customers in domestic and international markets. Now, Jain Resource Recycling Limited is launching its initial public offering (IPO), which consists of a fresh issue of ₹500 crore and an offer for sale of ₹750 crore. The total issue size of the IPO is ₹1,250 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   24 Sept 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   26 Sept 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   29 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   30 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   30 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   01 Oct 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.