Jain Resource Recycling Ltd to Launch Rs 2,000 Crore IPO

Jain Resource Recycling Ltd plans to raise Rs 2,000 crore through an IPO, with Rs 500 crore in fresh equity shares and a Rs 1,500 crore offer for sale. The funds will help pay debt and support corporate purposes. The company focuses on recycling non-ferrous metals.

Jain Resource Recycling Ltd is set to launch a Rs 2,000 crore initial public offering (IPO) as per draft papers filed with the Securities and Exchange Board of India (Sebi).

The offering includes Rs 500 crore in fresh equity shares and a Rs 1,500 crore offer for sale, primarily by promoter Kamlesh Jain and shareholder Mayank Pareek. A pre-IPO placement worth Rs 100 crore is also under consideration.

Proceeds from the fresh issue will be utilized for debt repayment and general corporate purposes. Underwriting the IPO are DAM Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors, and PL Capital Markets, with shares to be listed on BSE and NSE.

(With inputs from agencies.)