Jain Resource Recycling IPO - Listing Performance & Details

Jain Resource Recycling Limited traces its roots to a family-run metal recycling business begun more than 70 years ago, and was incorporated as Jain Resource Recycling Private Limited on February 25, 2022, before converting into a public limited company on February 25, 2025. It is headquartered in Chennai and works in the non-ferrous metal recycling sector.

The company collects, processes and sells non-ferrous metal scrap, producing lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys. It operates three recycling facilities at SIPCOT Industrial Estate, Gummidipoondi, near Chennai, with a combined capacity of about 64,600 tonnes per annum, along with a gold-refining facility in the Sharjah Airport International Free Zone, UAE, through its subsidiary Jain Ikon Global Ventures. It holds London Metal Exchange registration under the brand "Jain 9997" and sources scrap from more than 50 countries, supplying customers in the lead-acid battery, electrical and electronics, pigments and automotive sectors. The company is promoted by Kamlesh Jain, who serves as Chairman and Managing Director, along with Sanchit Jain.

Revenue from operations rose to Rs 7,125.77 crore in FY25 from Rs 4,428.42 crore in FY24 and Rs 3,064.07 crore in FY23, while profit after tax rose to Rs 223.29 crore in FY25 from Rs 163.83 crore in FY24 and Rs 91.81 crore in FY23. This was a mainboard IPO, listed on the NSE and BSE, comprising a fresh issue of equity shares aggregating up to Rs 500 crore, along with an offer for sale of up to Rs 750 crore, including up to Rs 1,430 crore mentioned in the original DRHP by promoter Kamlesh Jain and up to Rs 70 crore by other selling shareholder Mayank Pareek, taking the total issue size to about Rs 1,250 crore. The company may also have undertaken a pre-IPO placement of up to Rs 100 crore, which would reduce the fresh issue size correspondingly.