Jain Resource Recycling Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹220 - ₹232
- Lot size
- 64 shares
- Issue amount
- ₹1,250 cr
- Total subscription
- 16.76×
- Opens
- 24 Sept 2025
- Closes
- 26 Sept 2025
- Allotment
- 29 Sept 2025
- Listing
- 1 Oct 2025
Offer at a glance
Issue overview
- Issue size
- 5,38,79,310 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹14,080
- Fresh issue
- ₹500 cr
- Offer for sale
- ₹750 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,848
- Issue type
- Bookbuilding IPO
- Shares before issue
- 32,35,34,090
- Shares after issue
- 34,50,85,814
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 64 | ₹14,848 |
| sHNI | 14 | 896 | ₹2,07,872 |
| bHNI | 68 | 4,352 | ₹10,09,664 |
Share reservation
Subscription & GMP
Subscription by category
Reported 26 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 84,186 | 2,80,858 |
| HNIs(10L +) | 6,013 | 6,719 |
| HNIs (2-10L) | 3,007 | 16,829 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 375 | 10,000.35 |
| FIIs | 0 | 7,119.83 |
| FIs | 0 | 1,295.38 |
| Mutual Funds | 0 | 755.02 |
| Others | 0 | 830.13 |
| RETAIL | 125 | 476.78 |
| HNIs 2+ | 62.5 | 359.7 |
| HNIs 10+ | 125 | 687.66 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 7.16 | 4.7 | 2.65 |
| ROE | 40.77 | 57.66 | 59.64 |
| ROCE | 24.22 | 19.13 | 12.31 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 33.62 | 0 | 0 |
| POST IPO(PE) | 35.86 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Jain Resource Recycling Limited | NA | NA | 2 | 21.87 | 41.56 | 7.16 |
| Gravita India Limited | 37.67 | 1699.3 | 2 | 273.04 | 22.33 | 45.11 |
| Pondy Oxides & Chemicals Limited | 55.24 | 11.64.4 | 5 | 205.26 | 12.71 | 22.03 |
Company information
Company profile
Established in 2022, the company focuses on recycling and manufacturing non-ferrous metals, offering products such as lead and lead alloy ingots, copper and copper ingots, aluminium and aluminium alloys, tin ingots, and plastics. Its operations are supported by three recycling units located at the SIPCOT Industrial Estate in Gummidipoondi, Chennai, along with a gold refining facility in the SAIF-Zone, UAE, operated through its subsidiary JIGV. The company serves a diverse client base that includes Vedanta-Sterlite Copper, Luminous Power, Yash Resources Recycling, Mitsubishi Corporation RtM Japan, and Nissan Trading Co., while catering to markets across India, Singapore, China, Japan, and South Korea. As of July 31, 2025, the workforce comprised 411 permanent employees.
Strengths
- Broad Metal Portfolio & International Reach: Provides lead, copper, aluminium, tin, and plastic products with exports across Asian markets, enhancing revenue diversity.
- Robust Manufacturing Infrastructure: Recycling plants in Chennai with multi-metal capabilities, along with a gold refining facility in the UAE, deliver both geographic and product advantages.
- Strong Client Network: Caters to well-known domestic and global companies, ensuring steady demand and market trust.
Risk factors
- Revenue Concentration Risk: High reliance on Lead & Lead Alloys (39.46%) and Copper & Copper Ingots (44.82%); any demand volatility could materially affect earnings.
- Customer Dependency Risk: Heavy dependence on key clients without long-term agreements; loss of a major customer may significantly impact revenue and margins.
- Regulatory & Compliance Risk: Previous actions by SEBI/stock exchanges against the Promoter highlight potential regulatory and governance challenges.
Promoters
Kamlesh Jain
Registrar & documents
Lead manager
Dam Capital Advisors Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited, PL Capital Markets Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
The Lattice, Old no 7/1, New No 20, 4th Floor, Waddles Road, Kilpauk, Chennai, Tamil Nadu – 600010, India Chennai, Tamil Nadu, 600010
044 4340 9494
[email protected]Company website ↗Understanding JAINREC IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.