Jain Resource Recycling's shares debut on strong note: Here's why
Jain Resource Recycling's IPO opened at ₹265, landing 14% above its issue price of ₹232.
The ₹1,250 crore offer saw huge demand—oversubscribed 16.8 times overall—with institutional investors especially keen, subscribing nearly 27 times their reserved portion.
The company is a leading non-ferrous metal recycler
Jain Resource Recycling recycles non-ferrous metals like lead, copper, and aluminum.
With three plants near Chennai and a gold refining unit in the UAE, they serve big names like Vedanta and Mitsubishi Corporation.
In just three years, they've expanded exports to Singapore, China, Japan, and South Korea.
Financials: Revenue up 60% in FY25
For FY25 (the year ending March 2025), revenue jumped 60% to ₹7,162 crore and profit after tax rose by 36% to ₹223 crore.
At listing, the company was valued close to ₹8,000 crore with improved financial health, but analysts note that its net margin is thin for a business of this scale.