Upcoming IPO: Jain Resource Recycling Filed DRHP for ₹2,000 Crore IPO

The recycling and production of non-ferrous metals company, Jain Resource Recycling Limited, has filed the draft red herring prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI) to float an IPO. The ₹2,000 crore Jain Resource Recycling IPO comprises a fresh issue of ₹500 crore and an offer-for sale of ₹1,500 crore.

Use of IPO Proceeds

Fresh Issue

The net proceeds raised from the fresh issue portion of this upcoming IPO will be used for the following purposes:

• The company will use fresh issue funds for the pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company.

• General corporate purposes.

Offer for Sale

The proceeds from the Offer for Sale shall be received by the Selling Shareholders after deducting their proportion of Offer expenses and relevant taxes thereon. The company will not receive any proceeds from the Offer for Sale.

Also Read: Ather Energy Cuts IPO Size and Valuation Amid Investor Caution: Reports

About Jain Resource Recycling Limited

Incorporated in 2022, Jain Resource Recycling Limited has itself as a pioneer in the recycling and production of non-ferrous metals in India. The company is mainly focused on the manufacturing of non-ferrous metal products by way of recycling non-ferrous metal scrap. The company’s product portfolio comprises of (i) lead and lead alloy ingots, (ii) copper and copper ingots, and (iii) aluminium and aluminium alloys.

The company has a rich global presence across major overseas geographies, including Singapore, China, Japan and South Korea.

Jain Resource Recycling is one of only two recycling companies in India whose lead has been registered as a brand by the London Metal Exchange. This recognition gives the company a significant advantage by enabling access to a wider global customer base, offering products that meet international quality standards, and benefiting from LME reference pricing for its product supply in global markets.

The company serves to customers in various industries, including lead acid battery, electrical and electronics, pigments, and automotive. In addition, the company’s clientele includes Vedanta Limited-Sterlite Copper, Luminous Power Technologies Private Limited and Yash Resources Recycling Limited and others.

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