Jain Resource Recycling has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,000 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) valued at Rs 1,500 crore.
Proceeds from the fresh issue will be utilised for payment of debt and general corporate purposes. DAM Capital Advisors, ICICI Securities, Motilal Oswal Investment Advisors and PL Capital Markets are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE.
Jain Resource Recycling is primarily focused on the manufacturing of non-ferrous metal products through the recycling of non-ferrous metal scrap. The company's product portfolio comprises lead and lead alloy ingots; copper and copper ingots; and aluminium and aluminium alloys.
