Jain Resource Recycling's ₹1,250 crore IPO to launch on Sept 24: From price band to lot size, key details here

Jain Resource Recycling IPO: Scrap recycler Jain Resource Recycling's ₹1,250 crore initial public offering will launch on Wednesday, September 24. The company has set a price band of ₹220 to ₹232 per share.

The bidding for anchor investors will occur on September 23. The issue will conclude on September 26.

The initial share sale is a mix of fresh issuance of equity shares aggregating up to ₹500 crore and an offer for sale of ₹750 crore by Kamlesh Jain and Mayank Pareek.

The fresh issue proceeds to the tune of ₹375 crore will be used for repayment of certain outstanding borrowings, and the remainder for general corporate purposes.

Jain Resource Recycling IPO: Lot size

An application size consists of one lot or 64 shares and in multiples thereof. The company has reserved 75% of the net offer for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.

Jain Resource Recycling IPO timeline: Allotment and listing dates

• Finalisation of basis of allotment: September 29
• Refund initiation: September 30
• Credit of equity shares to Demat: September 30
• Listing on NSE and BSE: October 1

DAM Capital Advisors, Motilal Oswal Investment Advisors and ICICI Securities are the IPO's book-running lead managers, while KFin Technologies is the registrar.

About Jain Resource Recycling

Jain Resource Recycling manufactures non-ferrous metal products by recycling non-ferrous metal scrap. Its product portfolio includes lead and lead alloy ingots, copper and copper ingots and aluminium and aluminium alloys.

It runs three recycling facilities situated at SIPCOT Industrial Estate, Chennai. A gold refining plant was also launched in August 2024 in Sharjah Airport International Free Zone, UAE, through its subsidiary JIGV.

It caters to clients in various industries, including lead acid battery, electrical and electronics, automotive and pigments. Its customers include Vedanta Limited-Sterlite Copper, Yash Resources Recycling Limited and Luminous Power Technologies Private Limited, and global customers like Nissan Trading Co and Mitsubishi Corporation RtM Japan.