Recyclekaro India Limited seeks ₹240cr equity to ramp recycling capacity
Recyclekaro India Limited is looking to raise ₹240 crore in fresh equity while evaluating a potential IPO, to ramp up its e-waste and lithium-ion battery recycling.
The company increased its battery recycling capacity from 4,200 to 10,000 metric tons per year, and aims for 16,000 soon.
The move comes as India's tech trash keeps piling up.
Recyclekaro boosts e-waste capacity to 24,500t
Recyclekaro also increased its e-waste recycling from 7,500 to 24,500 metric tons a year.
Last year's revenue was ₹219.5 crore and they're hoping that jumps to ₹450 crore thanks to the bigger capacity and high-value recycled products.
They use advanced methods that recover more than 95% of key metals such as cobalt from used batteries and have teamed up with Evergreen Mahan Recycling for precious metals from auto scrap, so it's not just about phones and laptops anymore.