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₹232 - 232
Jain Resource Recycling Ltd
Non Ferrous MetalsIPO
₹232 - 232
The Jain Metal Group is engaged in the recycling and production of non-ferrous metals in India. We are primarily focused on recycling of non-ferrous metal scrap and our product portfolio comprises of (i) lead and lead alloy ingots; (ii) copper and copper ingots; and (iii) aluminium and aluminium alloys. We operate through three Recycling Facilities located at SIPCOT Industrial Estate, Gummidipoondi, Chennai and as on July 31, 2025, our Recycling Facilities are operating with a combined actual production capacity of 308,306 MTPA. Our lead ingot is registered as a brand on the London Metal Exchange providing us the distinct advantage of having access to a broad customer base by offering products compliant with international quality standards. We are also engaged in trading of non-ferrous metals and other commodities.
Lot64Min Invest₹14,848Face Value₹2Issue Size₹1,250 CrFresh Issue₹500 CrOffer for Sale₹750 CrListing Price₹265CMP₹289
Timeline
24 Sept
Bidding opens
26 Sept
Bidding closes
29 Sept
Allotment
30 Sept
Refund & demat credit
1 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹1,250 Cr5.39 Cr shares
Fresh Issue₹500 Cr
Offer for Sale₹750 Cr
Face Value₹2
Lot Size64 shares
ReservationQIB 75% · NII 15% · RETAIL 10%
Application Sizes
Retail₹14,8481-13 lots
sNII₹2,07,872from 14 lots
bNII₹10,09,664from 68 lots
Managers & Registrar
Lead ManagerDAM Capital Advisors Ltd
Co-ManagerICICI Securities Ltd, Motilal Oswal Investment Advisors Ltd, PL Capital Markets Pvt Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrKamlesh JainPRMTR3,08,18,965715.00Mayank PareekOTH15,08,62035.00Total3,23,27,585750.00
Shareholding
CategoryPre IPOPost IPOPromoter Group88.02%73.59%Public11.98%26.41%
Objects of the Issue
- Pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 3,064 | 4,428 | 6,429 | 9,543 | 10,718 |
| Operating ProfitCr | 124 | 227 | 365 | 559 | 578 |
| OPM% | 4.0 | 5.1 | 5.7 | 5.9 | 5.4 |
| PBTCr | 124 | 215 | 303 | 476 | 492 |
| PATCr | 92 | 164 | 222 | 352 | 360 |
| EPS | 3 | 5 | 7 | 10 | 11 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 40 | 41 | 65 | 69 | - |
| ReservesCr | 138 | 307 | 661 | 1,492 | - |
| BorrowingsCr | 739 | 914 | 928 | 1,276 | - |
| Fixed AssetsCr | - | - | 89 | 114 | - |
| Total AssetsCr | 1,116 | 1,529 | 1,836 | 3,382 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 11 | 33 | 4 | -591 | - |
| Investing Cash FlowCr | -9 | -93 | -26 | -79 | - |
| Financing Cash FlowCr | 3 | 136 | -35 | 716 | - |
| Net Cash FlowCr | 5 | 76 | -58 | 46 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Track record of profitability and consistent financial performance in an industry with significant entry barriers.
- Strategically located Recycling Facilities with capabilities to handle multiple products lines.
- Strong customer base with global footprint and deep sourcing capabilities.
- Application of hedging mechanism for commodity price risk protection for products.
- Experienced management team and qualified personnel with significant industry experience.
Strategies · as stated in the DRHP
- Forward Integration into Copper Cathode and Wire Rod Manufacturing Business.
- Exploring new recycling domains to better serve our customers in domestic and international markets.
- Value creation through extraction of by-product such as tin and plastic to achieve cost efficiency
- Continuing our focus on sustainability and ESG principles
- Continuing our focus on sustainability and ESG principles.
Risks · as stated in the DRHP
- A substantial portion of our revenue is derived from the sale of our key products, namely Lead and Lead Alloy Ingots and Copper and Copper Ingots constituting 39.46% and 44.82% respectively of our revenue from operation in Fiscal 2025. Any loss of sales due to reduction in demand for these products could adversely affect our business, financial condition, results of operations and cash flows.
- We are subject to strict quality requirements and are consequently required to incur significant expenses to maintain our product quality. Any failure to comply with such quality standards may lead to cancellation of existing and future orders which may adversely affect our reputation, financial conditions, cash flows and results of operations.
- We depend on third party suppliers for the supply of scrap required for our business operations. Any disruptions in the supply or availability of the scraps or fluctuations in their prices may have an adverse impact on our business operations, cash flows and financial performance.
- Any disruption or shortage of essential utilities could disrupt our operations and increase our production costs, which could adversely affect our results of operations.
- In past, there have been disciplinary action imposed by SEBI or stock exchanges against our Promoter. We cannot assure you in the future there will no such action or regulatory proceeding initiated against us.
- Majority portion of the Net Proceeds may be utilized for repayment or pre-payment of working capital loans. Our management will have broad discretion over the use of the Net Proceeds.