Jain Resource Recycling IPO: Price band, dates, and more
Jain Resource Recycling is opening its IPO soon, with shares priced between ₹220-232.
You can apply from September 24 to 26, 2024, and the total offer size is ₹1,250 crore. Out of this, ₹500 crore is a fresh issue and ₹750 crore comes from existing shareholders selling their stake.
If you're thinking of investing, bids start at lots of 64 shares.
Proceeds will go toward loan repayment
Most of the fresh funds—₹375 crore—will go toward paying off loans; the rest will help boost operations.
Jain Resource Recycling traces its business origins to 1953, though the current company was incorporated in 2022, and now runs metal recycling plants across South India, sourcing most materials from abroad.
For the half-year ending September 2024, it clocked ₹2,888.6 crore in revenue and made a profit of ₹112.1 crore after tax.
With exports making up 60% of its sales, the company counts Gravita and Pondy Oxides among its peers.