By Bl Chennai Bureau

Copyright thehindubusinessline

Chennai-based Jain Resource Recycling Ltd will open bids for its ₹1,250 crore initial public offer (IPO) on September 24, Wednesday.

The price band for the offer is at ₹220 to ₹232 per equity share. The anchor investor bidding date will be September 23. The bid/offer will close on September 26. Bids can be made for a minimum of 64 equity shares of face value of ₹2 each and in multiples of 64 equity shares thereafter, the company said in a statement.

The total offer size of equity shares with face value ₹2 each aggregating up to ₹ 1,250 crore. This comprises fresh issue of equity shares aggregating up to ₹500 crore and Offer for sale (OFS) aggregating up to ₹750 crore.

The Offer for Sale comprises up to ₹ 715 crore by Kamlesh Jain (the Promoter Selling Shareholder); and up to ₹35 crore by Mayank Pareek (the Other Selling Shareholder).

Kamlesh Jain, Managing Director, Jain Resource Recycling Ltd, said that the company proposes to utilise the net proceeds from the fresh issue towards pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company estimated at ₹375 crore, and balance towards general corporate purposes.

The company is involved in recycling and production of non-ferrous metals, including lead and copper, and provides vertically integrated operations with end-to-end processes. The actual production capacity of its recycling facilities is 308,306 tonnes per annum.

Out of the total annual revenue of ₹7,000 crore, 39 per cent is from India, 18 per cent from Singapore, 19 per cent from China, 10 per cent from UAE and 9 per cent from Taiwan, he said.

Some of the major clients include Vedanta Sterlite Copper, Nissan and Mitsubishi Corporation, he added.

Published on September 19, 2025