Jain Resource Recycling IPO: Check IPO Date, Live Subscription and Key Details
Jain Resource Recycling Limited, incorporated in 2022, is a non-ferrous metal recycling and manufacturing company. Its primary products include lead, copper, and aluminum ingots and alloys, which are used in various industries such as lead-acid batteries, electrical and electronics, pigments, and automotive. The company operates three recycling plants in Chennai, Tamil Nadu, which process different types of metal scrap. Through its subsidiary JIGV, the company also operates a gold refining unit in the Sharjah Airport International Free Zone (SAIF-Zone), UAE. Jain Resource Recycling serves a strong customer base, including Vedanta Limited, Luminous Power Technologies, Mitsubishi Corporation, and Nissan Trading Co., and has a global presence with markets in Singapore, China, Japan, and South Korea.
Price Range
₹220.0 - ₹232.0
Issue Size
₹1,250 Cr
Lot Size
64 shares
IPO Type
Mainboard
GMP
₹13(+5.60%)
Est. Listing Price
₹245
Estimate Profit
₹832
Retail Portion
-
Key Metrics
Check Live GMPGMPFace Value
₹2
EPS
6.47
P/E Ratio
35.86
RoNW
41.56%
ROE
31.56%
Debt to Equity
0.92
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Timeline
IPO Opens
24 Sept
IPO Closes
26 Sept
Allotment
29 Sept
Listing
1 Oct
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 24 September 2025 | Subscription starts |
| IPO Close Date | 26 September 2025 | Subscription ends |
| Allotment Date | 29 September 2025 | Allotment |
| Listing Date | 1 October 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,848 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,024 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,07,872 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,94,816 |
BHNIAbove ₹10,00,000 | 68 | ₹10,09,664 |
IPO Objectives
- Pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company.
- General corporate purposes.
Strengths
- The company has a track record of consistent financial performance with a 60% increase in revenue and 36% rise in PAT between FY24 and FY25.
- It has strategically located recycling facilities and a diversified product portfolio of non-ferrous metals and alloys, reducing reliance on a single segment.
- The business has a strong customer base with a global footprint, including prominent names like Vedanta and Mitsubishi Corporation.
- It applies a hedging mechanism for commodity price risk protection, which helps mitigate the impact of volatile metal prices.
- The company's focus on recycling supports the circular economy and positions it to benefit from environmental regulations.
Weaknesses
- The company has a high debt-to-equity ratio of 1.30, which indicates significant financial leverage and may impact profitability.
- The IPO includes a significant Offer for Sale (OFS) component of ₹750 crore, meaning a large portion of the proceeds will not be used for direct business growth.
- The business is vulnerable to raw material price volatility, as non-ferrous metals are subject to fluctuations in international markets.
- It faces intense competition in the metal recycling and non-ferrous metals industry from both domestic and international players.
- Revenue is concentrated on a few key products and a limited number of customers, which makes the company vulnerable to changes in demand or client relationships.
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Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 1,836.24 | 1,528.76 | 1,115.96 |
| Revenue (₹ Cr.) | 7,162.15 | 4,484.84 | 3,107.53 |
| PAT (₹ Cr.) | 223.29 | 163.83 | 91.81 |
| Net Worth (₹ Cr.) | 707.46 | 367.18 | 196.97 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Jain Resource Recycling | 20.44 | 35.86 | 41.56% | 21.87 |
| Gravita India Limited | 5.93 | 36.26 | 15.09% | 2,078 |
| Pondy Oxides & Chemicals | 6.36 | 56.78 | 9.79% | 593 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.17x | 1.7x | 26.67x |
| NII | 0.12x | 0.52x | 5.59x |
| S-HNI | 0.19x | 0.83x | 5.76x |
| B-HNI | 0.09x | 0.36x | 5.5x |
| RII | 0.54x | 1.35x | 3.81x |
| Total | 0.77x | 1.31x | 16.76x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,61,63,794 | 43,10,49,600 | 10,000.35 |
| NII | 80,81,897 | 4,51,44,896 | 1,047.36 |
| Small NII | 26,93,966 | 1,55,04,320 | 359.7 |
| Big NII | 53,87,931 | 2,96,40,576 | 687.66 |
| RII | 53,87,931 | 2,05,45,984 | 476.67 |
| Total | 2,96,33,622 | 49,67,40,480 | 11,524.38 |
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Company Details
- Jain Resource Recycling Ltd.
- The Lattice, Old no 7/1, New No 20, 4th Floor, Waddles Road, Kilpauk, Chennai, Tamil Nadu-600010, India
- 044 4340 9494
- cs@jainmetalgroup.com
- http://www.jainmetalgroup.com/
Registrar Details
- Kfin Technologies Ltd.
- 04067162222, 04079611000
- jainresource.ipo@kfintech.com
- https://ipostatus.kfintech.com/
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