IPO Jain Recycling / This company will bring IPO, submitted initial documents to SEBI, know the whole thing

The buzz about Jain Resource Recycling Limited's IPO has intensified in the market. The company has filed a draft paper with SEBI to raise Rs 2,000 crore. This includes a fresh issue of Rs 500 crore and an offer for sale (OFS) of Rs 1,500 crore.

IPO Jain Recycling: Another IPO has created a stir in the Indian stock market. Jain Resource Recycling Limited has filed a draft red herring prospectus (DRHP) with market regulator SEBI to raise Rs 2,000 crore. According to a PTI report, this IPO includes the issue of new equity shares worth Rs 500 crore and an offer for sale (OFS) of Rs 1,500 crore.

Use of funds through IPO

The company has clarified that the amount raised from this issue will be used mainly to repay loans and meet general corporate requirements. Under the OFS, promoter Kamlesh Jain will sell shares worth Rs 1,430 crore and shareholder Mayank Pareek will sell shares worth Rs 70 crore. Apart from this, the company plans to raise up to Rs 100 crore in a pre-IPO placement round, which may affect the issue amount.

Jain Resource Recycling Limited: An Introduction

This Tamil Nadu-based company is primarily focused on recycling non-ferrous metal scrap and manufacturing metal products from it. The company's product portfolio includes lead and its alloys ingots, copper, aluminum and their alloy products. Additionally, the company has partnered with Icon Square Limited UAE to set up a gold refining facility in Sharjah, UAE. Jain Resource Recycling also plays an active role in the trading of various metals and commodities.

Key Book-Running Lead Managers

Dam Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors and PL Capital Markets have been appointed as book-running lead managers to conduct this IPO. The shares issued under the IPO are planned to be listed on BSE and NSE.

Increasing IPO Activity in the Market

Recently, IPO activities in the Indian stock market are gaining momentum again. South Korean company LG's subsidiary LG Electronics India Limited and human resources and toll plaza management service provider Innovision Limited have also received approval from SEBI for IPO. This is creating new opportunities for investors.

Thus, the IPO of Jain Resource Recycling Limited can prove to be an attractive opportunity for Indian investors. Given the increasing IPO activity in the market, this issue is likely to be much talked about among investors.