Jain Resource Recycling Ltd IPO Everything You Need to Know

Introduction

Jain Resource Recycling Ltd. (JRR) has launched its Initial Public Offering (IPO) to raise funds for its expansion and debt reduction. This move marks a significant step for the company, which specializes in recycling non-ferrous metals like lead, copper, and aluminum.

IPO Details

• Issue Size: ₹1,250 crore

  • Fresh Issue: ₹500 crore

  • Offer for Sale (OFS): ₹750 crore

• Price Band: ₹220 – ₹232 per share

• Lot Size: 64 shares

• Minimum Investment: ₹14,848 (64 × ₹232)

• Issue Open Date: September 24, 2025

• Issue Close Date: September 26, 2025

• Tentative Listing Date: October 1, 2025

• Exchanges: NSE and BSE

• Lead Managers: DAM Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors, PL Capital Markets

How to Apply

Investors can apply for the IPO through:

• Broker Platforms: Zerodha, Groww, Upstox, ICICI Direct

• Bank ASBA Facility: Via net banking with UPI mandate

Ensure to apply before the closing date and approve the UPI mandate before 5 PM on September 26, 2025.

Expected Market Performance

• Grey Market Premium (GMP): ₹20

  • Indicates a potential listing price of ₹252 per share (8.62% higher than the upper price band of ₹232)

• Subscription Status:

  • Day 1: 73%

  • Day 2: 79%

  • Day 3: To be announced

  • Retail Portion: 74% subscribed

  • Non-Institutional Investors (NII): 18% subscribed

  • Qualified Institutional Buyers (QIB): 1.11 times subscribed

Company Overview

Jain Resource Recycling Ltd., part of the Jain Metal Group, is a leading player in the non-ferrous metal recycling industry. The company operates integrated facilities for producing lead, copper, and aluminum products. It sources materials from over 120 countries and exports to more than 50 countries. JRR is also expanding into specialized recycling sectors like solar panels and automotive tires to capitalize on sustainable growth opportunities.

Financials and Valuation

• Valuation: At the upper price band, the company is valued at a Price-to-Earnings (P/E) ratio of 35.9x for FY25, resulting in a projected market capitalization of ₹8,006 crore post-issue.

• Use of Proceeds: Funds raised will be utilized for debt repayment and general corporate purposes.

Analyst Recommendations

• Anand Rathi Research: Recommends a "SUBSCRIBE – LONG TERM" rating, citing the company's strong market position, growth prospects, and expansion into new recycling sectors.

• Risks: Potential investors should consider risks such as revenue concentration in lead and copper products, reliance on imported scrap materials, and the promoter group's majority control post-IPO.

Key Considerations

Conclusion

The Jain Resource Recycling Ltd. IPO presents an opportunity to invest in a leading non-ferrous metal recycler with strong growth prospects. However, potential investors should weigh the company's valuation and associated risks before making an investment decision.

For more detailed information, you can refer to the company's Red Herring Prospectus (RHP) filed with SEBI: Jain Resource Recycling Ltd. RHP