Jain Resource Recycling IPO will open for subscription on September 24, 2025, and close on September 26, 2025. Incorporated in 2022, Jain Resource Recycling Limited is engaged in the recycling and manufacturing of non-ferrous metal products.
Its product portfolio includes lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys. The company has built capabilities to process multiple categories of scrap material, contributing to resource recovery and sustainable metal production.
In this blog, we’ve covered all the details on the Jain Resource Recycling IPO, including the issue size, proceeds usage, financial performance, peer comparison, and risk factors.
Jain Resource Recycling IPO Date
The key pointers for the Jain Resource Recycling IPO dates are:
- Bidding Opening Date: September 24, 2025
- Bidding Closing Date: September 26, 2025
- Allotment Date: September 29, 2025
- Initiation of Refunds (in case of less or no allotment): September 30, 2025
- Shares Credited to Your Demat Account: September 30, 2025
- IPO Listing Date: October 1, 2025
- Listing on Exchange: BSE and NSE
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Jain Resource Recycling IPO Issue Size
Jain Resource Recycling IPO valuation, as denoted by the market capitalisation, stood at ₹8,005.99 crores. Here are the essential details:
- Jain Resource Recycling IPO Price Band: ₹220 to ₹232 per share
- Lot Size: 64 Shares
- Issue Size and Amount: 5.38 crore shares (aggregating up to ₹1,250 crores)
- Fresh Issue and Amount: 2.15 crore shares (aggregating up to ₹500 crores)
- Offer for Sale and Amount: 3.23 crore shares of ₹2 (aggregating up to ₹750 crores)
Jain Resource Recycling IPO Proceeds Usage
The net proceeds from the Jain Resource Recycling IPO are proposed to be utilised for the following purposes:
- Debt Reduction: Utilise ₹375 crores from the net proceeds to pre-pay or repay a portion of the company’s outstanding borrowings, helping lower the debt burden and improve financial flexibility.
- General Corporate Purposes: Allocate the remaining proceeds to cover business development needs, administrative expenses, and other strategic requirements that support the company’s overall growth and operations.
Jain Resource Recycling IPO Reservations
Jain Resource Recycling IPO reservations to different investors are:
- For QIBs: Not less than 75% of the Offer
- For NIIs: Not more than 15% of the Offer
- For Retail Investors: Not more than 10% of the Offer
Jain Resource Recycling IPO Lot Size
Jain Resource Recycling IPO lot size is 64 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 64 | ₹14,848 |
| S-HNI (Min) | 14 | 896 | ₹2,07,872 |
| B-HNI (Min) | 68 | 4,352 | ₹10,09,664 |
Jain Resource Recycling IPO Details: Promoter Holding
Kamlesh Jain is the promoter of the Jain Resource Recycling Limited with a shareholding of 79.78%.
Jain Resource Recycling Limited: Company Overview
Founded in 2022, Jain Resource Recycling Limited works in the recycling and manufacturing of non-ferrous metals. Its product range includes lead and lead alloy ingots, copper and copper ingots, as well as aluminium and aluminium alloys. The company also produces tin ingots and plastic products, expanding its portfolio to serve multiple industries.
It runs three recycling facilities located in the SIPCOT Industrial Estate at Gummidipoondi, Chennai. These plants process a wide variety of scrap materials such as copper (birch, druid), lead (radio, relay, rains, rinks), and aluminium (tread, talon, tense).
In addition, the company operates a gold refining facility in the Sharjah Airport International Free Zone (SAIF-Zone), UAE, through its subsidiary JIGV, further diversifying its operations.
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- 20 Lac+ unique clients
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Key Clients and Global Presence
Jain Resource Recycling supplies its products to sectors like lead-acid batteries, electrical and electronics, pigments, and automotive. Its customer base includes well-known Indian and international companies such as Vedanta Limited – Sterlite Copper, Luminous Power Technologies, Yash Resources Recycling, Mitsubishi Corporation RtM Japan, and Nissan Trading Co.
The company also has a global presence across markets, including Singapore, China, Japan, and South Korea. As of July 31, 2025, it employed 411 permanent staff.
Key Strengths
The company’s competitive strengths include a strong track record of profitability in a sector that has significant entry barriers. Its recycling plants are strategically located and equipped to handle multiple product lines.
A solid customer base with both domestic and global reach, along with strong sourcing capabilities, further supports growth. The company also applies effective hedging mechanisms to protect against commodity price risks.
Backed by an experienced management team and skilled professionals, Jain Resource Recycling is well-positioned to grow in the recycling and metals sector.
Jain Resource Recycling Limited: Financial Performance
Jain Resource Recycling Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 | 31 Mar 2024 | YoY Change |
|---|---|---|---|
| Total Income | 7,162.15 | 4,484.84 | 60% |
| Profit After Tax (PAT) | 223.29 | 163.83 | 36% |
| EBITDA | 368.58 | 227.22 | 62% |
| Net Worth | 707.46 | 367.18 | 93% |
| Assets | 1,836.24 | 1,528.76 | 20% |
| Total Borrowing | 919.92 | 909.38 | 1% |
- Revenue Growth: Total income grew sharply by 60%, rising from ₹4,484.84 crore in FY24 to ₹7,162.15 crore in FY25, supported by higher demand across metal recycling and alloy products.
- Profitability: PAT increased by 36%, from ₹163.83 crore in FY24 to ₹223.29 crore in FY25, reflecting improved margins and stable cost management.
- EBITDA Performance: EBITDA rose by 62%, growing from ₹227.22 crore in FY24 to ₹368.58 crore in FY25, indicating better operating efficiency and scale benefits.
- Strengthened Net Worth: Net worth nearly doubled, rising by 93% from ₹367.18 crore in FY24 to ₹707.46 crore in FY25, driven by retained earnings and healthy profitability.
- Asset Base: Total assets increased by 20%, moving from ₹1,528.76 crore in FY24 to ₹1,836.24 crore in FY25, showing the company’s expanding capacity and operations.
- Debt Position: Borrowings stayed almost flat, moving slightly from ₹909.38 crore in FY24 to ₹919.92 crore in FY25, showing controlled leverage despite business growth.
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- 20 Lac+ unique clients
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Jain Resource Recycling IPO Peer Comparison
Here’s the peer comparison table for Jain Resource Recycling IPO with its listed peers:
| Company Name (FY25) | EPS (Basic in ₹) | P/E (x) | RoNW (%) |
|---|---|---|---|
| Jain Resource Recycling Limited | 7.16 | 33.62 | 41.56 |
| Gravita India Limited | 45.11 | 37.67 | 22.33 |
| Pondy Oxides & Chemicals Limited | 22.03 | 55.24 | 12.71 |
- EPS: Jain Resource Recycling’s EPS of ₹7.16 is much lower than both Gravita India and Pondy Oxides & Chemicals, suggesting it earns significantly less profit per share.
- P/E: Compared to the others, Jain Resource Recycling has a lower P/E ratio 33.62, indicating that its stock is currently cheaper relative to its earnings.
- RoNW: Jain Resource Recycling has a remarkably higher Return on Net Worth (RoNW) of 41.56% than the other two companies, showing that it’s generating a much better return on shareholder equity.
Jain Resource Recycling IPO Risk Factors
Jaro Education IPO GMP is ₹25 as of September 23, 2025 (at 16:37). It is expected to list at a 10.78% gain at a price of ₹257. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
The risk factors of the Jain Resource Recycling IPO are as follows:
- Revenue concentration: Heavy reliance on lead and lead alloy ingots, and copper and copper ingots. Limited diversification could hurt revenue and cash flows if demand shifts.
- Raw material dependence: Scrap sourced mainly from overseas suppliers from the USA, Malaysia, Kuwait, UK, and UAE. Any supply disruption or price swings can impact operations and margins.
- Forex exposure: More than half of revenue comes from exports, and key inputs are imported in USD and EUR. Adverse currency movements can affect receivables, payables, revenue, and profit margins.
- Commodity price volatility: Fluctuations in metal scrap prices can pressure costs and profitability.
For all the insights on Jain Resource Recycling IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Jain Resource Recycling IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. What are the IPO dates for Jain Resource Recycling?
The IPO opens on September 24, 2025, and closes on September 26, 2025. The allotment is expected to be finalised on September 29, 2025, and the tentative listing date is October 1, 2025, on both BSE and NSE.
2. What is the price band and lot size for the Jain Resource Recycling IPO?
The price band has been set at ₹220 to ₹232 per share, and the lot size is 64 shares. Retail investors can apply with a minimum investment of ₹14,848.
3. How much is the issue size and what does it include?
The IPO issue size is ₹1,250 crores, comprising a fresh issue of ₹500 crores (2.15 crore shares) and an offer for sale of ₹750 crores (3.23 crore shares).
4. How will the IPO proceeds be utilised?
The net proceeds will be used primarily for repayment or prepayment of borrowings and for general corporate purposes like business development, administration, and other strategic initiatives.
5. What are the key risks of investing in this IPO?
Risks include high dependency on lead and copper products, reliance on imported raw materials, foreign exchange exposure, substantial borrowings, and commodity price volatility, all of which could impact financial performance.
References:
https://www.sebi.gov.in/filings/public-issues/sep-2025/jain-resource-recycling-limited-rhp_96687.html
https://www.investorgain.com/gmp/jain-resource-recycling-ipo-gmp/1458/
Author: All Content is verified by SMC Global Securities.
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