22 September 2025
3 mins read
Jain Resource Recycling Limited is a non-ferrous metals recycling company, part of the Jain Metal Group, based in Chennai. Originally established in 1953 as Jain Metal Rolling Mills, the business has evolved over decades, reconstituting in 1993 and then converting to a private limited company in February 2022. It recycles scrap metals such as copper, lead, aluminium and small amounts of precious metals, converting them into ingots and alloys. The company also exports a sizeable portion of its output.
In terms of market position, Jain Resource Recycling is among the leading players in India’s non-ferrous recycling sector. It claims to be one of the fastest-growing businesses in its domain according to CRISIL, backed by strong sourcing networks (both domestic & import), multiple units and a credible international customer base.
Interested in investing? Here’s the detailed guide to the Jain Resource Recycling.
Parameter | Detail |
Total Issue Size | |
Fresh Issue | |
Offer-for-Sale (OFS) | |
Price Band |
A large share of the fresh issue proceeds (≈ ₹ 375 crore) will be used to pre-pay or schedule repayment of certain existing borrowings.
The remainder of the fresh issue funds will go toward general corporate purposes, which may include expanding operational capacity, strengthening infrastructure, or other growth initiatives.
The OFS component allows existing shareholders (promoters or others) to partially exit, enabling liquidity for them but does not result in fresh capital inflow for the company.
Event | Date |
Anchor investor bidding / Anchor allocation | |
IPO Opens for subscription | |
IPO Closes | |
Basis of Allotment finalised | |
Refunds initiated / Shares credited to demat accounts | |
Listing on BSE & NSE |
Here are the details to note as a potential investor:
Minimum lot for Retail Individual Investors: 64 shares (which implies amount ≈ ₹ 14,848 at upper band)
Retail investors can apply up to 13 lots (832 shares) if desired
For S-HNI (Semi-HNI) category, minimum 14 lots (896 shares) etc.
Here is how one might apply, especially via online channels. Always double-check with your broker or bank.
Ensure you have an active demat account and bank account that supports ASBA (Application Supported by Blocked Amount) or UPI as required.
Through your brokerage platform or bank portal, locate the IPO section and select Jain Resource Recycling IPO.
Enter the number of lots you wish to apply for (minimum 64 for retail) and the bid price within the band (₹220-232).
Provide your UPI ID (if using UPI mandate) or ensure ASBA authorisation is in place.
Confirm and submit the bid before the IPO closing time (5:00-PM IST on 26 September 2025).
After allotment, check for credit of shares to your demat account and refund (if any) to your bank account.
Additional Read- How to Apply for the Jain Resource Recycling IPO?
Jain Resource Recycling IPO will consist of both fresh issue shares (newly issued by the company) and offer-for-sale (OFS) shares (sold by existing shareholders). The total number of shares offered is ≈ 53,879,310 shares, made up of fresh issue ≈ 21,551,724 shares and OFS ≈ 32,327,586 shares. Financial Health and Performance
Here are key financials and recent growth prospects to assess the company’s strength.
Revenue trend (in ₹ crores):
• FY 2022: ~ 2,849.6
• FY 2023: ~ 3,107.53
• FY 2024: ~ 4,484.84
• FY 2025: ~ 7,125.77 (annualised / recent period)
Profit After Tax (PAT):
• FY 2022: ~ ₹86.80 crore
• FY 2023: ~ ₹91.81 crore
• FY 2024: ~ ₹163.83 crore
• FY 2025: ~ ₹223.29 crore (recent period)
Margins & Ratios:
• PAT margin ~ 3.13% for the recent period.
• Return on Equity / Net Worth: ~ 40-41% as per recent figures.
• Debt-to-Equity or borrowing remains high (borrowings ~ ₹969.7 crore vs net worth ~ ₹481.8 crore for the recent period) which means leverage is material.
The company has shown strong revenue growth, nearly doubling from FY2024 to FY2025 in the recent annualised/reported period.
Profitability has also improved, with higher PAT, though margins remain modest (≈ 3-4%). I
Opportunities stem from increasing demand for recycled non-ferrous metals due to environmental / sustainability pressures, import limitations, cost advantage and global customers.
Risks include fluctuations in scrap metal prices, import restrictions, quality issues, regulatory & environmental compliance, energy costs and currency risks.
Here are what to watch out for, and where upside may lie.
Price volatility of raw materials (metal scrap, imported material) can squeeze margins.
High leverage: large borrowings compared to net worth suggests financial risk, especially under interest rate rises or economic downturns.
Regulatory / environmental & sustainability compliance risk: recycling is regulated; any lapses or stricter norms could impact operations.
Dependence on imported scrap (~77%) for inputs exposes to supply chain, currency and trade policy risks.
Competition from other recycling firms and substitutes, and possible quality differential issues.
Increasing global & domestic emphasis on circular economy and sustainability may boost demand for recycled metals.
Export orientation of the company gives access to higher pricing and diversified markets. Jain’s lead ingot is London Metal Exchange (LME) registered, giving potential advantage. mint+1
Growing industrial demand (electronics, batteries, automotive) for non-ferrous metals.
Use of IPO proceeds to reduce debt could reduce interest burden, improve leverage and free up cash flows.
KPI | Value |
Issue Size | |
Price Band | |
Lot Size | |
Fresh Issue Portion | |
OFS Portion | |
Retail Allocation |
Here is who is managing and handling the IPO process:
Role | Entity |
Registrar | |
Book-Running Lead Managers (BRLMs) / Lead Managers | Dam Capital Advisors Ltd; ICICI Securities Ltd; Motilal Oswal Investment Advisors Ltd; PL Capital Markets Pvt Ltd |
Detail | Information |
Registered / Corporate Address | The Lattice, Old no 7/1, New No 20, 4th Floor, Waddles Road, Kilpauk, Chennai, Tamil Nadu – 600010, India |
Phone | |
Jain Resource Recycling IPO presents a compelling opportunity for investors seeking exposure to the non-ferrous metals recycling sector. With a strong growth track record, reasonable profitability, and a leverage reduction plan, the company seems to be positioning itself well for future expansion.
However, potential investors must weigh the risks—especially around commodity price swings, input dependency, and regulatory compliance. As always, applying only a portion of one’s portfolio, and conducting one’s own due diligence is prudent.
Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Jain Resource Recycling IPO.
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As of the IPO DRHP and RHP disclosures, the Promoter & Managing Director is Kamlesh Jain. It appears he leads the company’s executive management.
The core business is recycling of non-ferrous metal scrap (lead, copper, aluminium, etc.), converting it into ingots/alloys, and selling them domestically and internationally. Its sustainability is bolstered by rising environmental concerns, regulatory push towards circular economy, registered products (e.g. LME registration for lead), global sourcing & export orientation. But sustainability also depends on stable input supply, regulatory compliance, and managing costs.
‘Pre-apply’ is a facility some brokerages offer, letting investors lock in their bid or express interest beforehand. It does not guarantee allotment; formal application still happens during the IPO window. (This is a generic meaning; check your broker’s exact features.)
Once you submit your bid via ASBA or UPI, you’ll get confirmation from your bank / broker. The basis of allotment will be finalised on 29 September 2025, and you’ll typically know then if you have been allotted shares.
Minimum lot size is 64 shares. That is the base unit for retail investors.
The basis of allotment (i.e. when allotments are finalised) is scheduled for 29 September 2025.
At least from public disclosures in the DRHP / RHP, there are no glaring red flags reported. The promoter is known, the business has regulatory registrations (e.g. LME registration), and financials seem transparent. However, investors should review the full prospectus, management credentials, related party transactions, debt obligations and regulatory history as part of due diligence.
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