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Jain Resource Recycling IPO

Jain Resource Recycling IPO

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Registrar: KFin Technologies Limited · Listing 2025-10-01
IPO Timeline
Today · 21 Oct 2026
Opens
24 Sept 2025
Closes
26 Sept 2025
Allotment
29 Sept 2025
Refund
30 Sept 2025
Demat
30 Sept 2025
Listing
01 Oct 2025
Price Band
₹220–232
GMP
₹0
0%
Lot Size
64 Shares
Min ₹14,848
Subscription
0x
Issue Size
₹1250 Cr
Open
2025-09-24
Close
2025-09-26
Listing
2025-10-01

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.

Strengths

    Risks

      Financial performance (₹ Cr)

      Subscription breakup (final, times)

      Retail0x
      QIB0x
      NII0x
      EMP0x
      OTHER0x
      Total0x

      IPO Roadmap / Timeline

      Current Status · as of 21 Oct 2026
      Listed
      Listed on 01 Oct 2025
      Listed 385 days ago
      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.

      Lot size & minimum investment

      Lot Size
      64 shares
      Price / Share (upper)
      ₹232
      Min Investment (1 lot)
      ₹14,848
      Price Band
      ₹220–232
      Retail
      ≤ ₹2,00,000
      Min lots
      1
      Min shares
      64
      Min amount
      ₹14,848
      Max amount
      ₹193,024
      sHNI (Small HNI)
      ₹2L – ₹10L
      Min lots
      14
      Min shares
      896
      Min amount
      ₹207,872
      Max amount
      ₹994,816
      bHNI (Big HNI)
      > ₹10L
      Min lots
      68
      Min shares
      4352
      Min amount
      ₹1,009,664
      Max amount
      ₹1,083,904

      Shares reserved per category & allotment probability

      QIB
      100% allotment
      Reservation
      50%
      Amount
      ₹625 Cr
      Shares offered
      27,654,868
      Shares bid
      0
      Subscribed
      0.00x
      NII
      100% allotment
      Reservation
      15%
      Amount
      ₹187.5 Cr
      Shares offered
      8,296,460
      Shares bid
      0
      Subscribed
      0.00x
      Retail
      100% allotment
      Reservation
      35%
      Amount
      ₹437.5 Cr
      Shares offered
      19,358,407
      Shares bid
      0
      Subscribed
      0.00x

      Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).