Jain Resource Recycling's IPO to Energize Market with Copper, Lead, and Aluminum Recycling

Jain Resource Recycling Ltd announced a price band for its Rs 1,250 crore IPO, marking its stock market debut. The IPO includes a fresh issue of Rs 500 crore and a Rs 750 crore Offer For Sale. The company will use proceeds to pay debt and expand operations.

Jain Resource Recycling Ltd has unveiled a price range of Rs 220-232 per share for its highly-anticipated Rs 1,250 crore IPO, aiming to make a robust stock market debut.

With the company's valuation surpassing Rs 8,000 crore at the upper band, the IPO opens to the public from September 24 to 26. The offering includes a fresh issue of Rs 500 crore in equity shares and a Rs 750 crore Offer For Sale primarily from promoter Kamlesh Jain and shareholder Mayank Pareek.

The company will allocate the IPO proceeds to pay off debt and support general corporate initiatives. Positioned as a leader in the recycling of non-ferrous metals, Jain Resource Recycling continues to expand, having partnered with Ikon Square Ltd UAE to establish a gold refining facility in Sharjah.