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India’s non-ferrous metal recycling industry is rapidly growing, driven by rising demand for sustainable manufacturing and government mandates. The secondary copper market share increased from 24% in FY19 to 38% in FY23, with demand rising from ₹278,200 million to ₹645,000 million by FY24 at an 18% CAGR and projected to grow to 55% by 2030. Secondary aluminium grew at an 8% CAGR from FY19 to FY24, reaching 1.9 million tonnes valued around ₹152,000 million, fueled by auto and construction sectors.
| Detail | Information |
|---|---|
| IPO Open Date | Sep 24, 2025 |
| IPO Close Date | Sep 26, 2025 |
| Price Band | ₹220– ₹232 per share |
| Lot Size | 64 shares |
| Issue Size | ₹12,500 million |
| Listing At | BSE, NSE |
| Tentative Listing Date | To be announced |
Secondary lead demand rose steadily at a 3.8% CAGR between FY19 and FY24, valued at ₹70,800 million, with a forecast to reach 1.6-1.7 million tonnes by 2030. Supported by policies like the Steel Scrap Recycling and Vehicle Scrappage Policies, the sector is positioned as a key driver of India’s resource efficiency and environmental goals.
Jain Metal Group is a leading recycling and production company specializing in non-ferrous metals including lead, copper, and aluminum products. Operating three recycling facilities in Chennai, the company maintains vertically integrated processes with global sourcing from over 120 countries. With LME-registered lead ingot brand enabling international market access, Jain Metal serves industries including lead acid battery, electrical, electronics, and automotive sectors. Key clients include Vedanta Limited-Sterlite Copper, Luminous Power Technologies, and Mitsubishi Corporation RtM Japan. As of July 31, 2025, the company operates with combined actual production capacity of 308,306 MTPA, establishing strong presence in India’s non-ferrous metals recycling sector.
Jain Resource Recycling Ltd. demonstrated exceptional financial performance, with revenue from operations growing at an impressive CAGR of 52.50% over FY23-FY25 to reach ₹71,257.68 million in FY25, up from ₹30,640.71 million in FY23, reflecting the company’s strong execution capabilities in the rapidly expanding non-ferrous metal recycling sector. PAT surged from ₹918.10 million in FY23 to ₹2,232.87 million in FY25, representing a robust CAGR of 55.95%, while maintaining consistent PAT margins around 3.0-3.7% range, showcasing the company’s ability to scale operations while preserving profitability. The company maintained strong return ratios with ROE of 40.77% and ROCE of 24.22% in FY25, while operational metrics strengthened with customer base expanding from 317 to 371 clients, export revenue increasing from 51.63% to 60.39% of total revenue, and EBITDA per ton more than doubling from ₹4,959.35 to ₹10,766.02, highlighting the company’s operational efficiency improvements, global market penetration, and strong execution track record in India’s sustainable metal recycling industry with diversified revenue streams across copper (44.82%), lead (39.46%), precious metals (9.77%), and aluminium (3.83%) segments.
Objects of the issue:
- Pre-payment/ repayment of outstanding borrowings– INR 3750 million
- General Corporate purposes
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