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Eswari Global Metal Industries gets Sebi’s green signal to raise funds via IPO

15 Oct 2026 Evaluate

Eswari Global Metal Industries has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale (OFS) of up to 1.32 crore equity shares by promoters and another selling shareholder.

Proceeds from the fresh issue will include Rs 150 crore to part-finance capital expenditure towards the Phase-II expansion of its manufacturing facility at Mundra in Gujarat, Rs 250 crore for payment of debt, with the remaining funds to be used for general corporate purposes. DAM Capital Advisors, ICICI Securities and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.

Eswari Global Metal Industries is an integrated multi-metal and waste recycling and value-added manufacturing company engaged in recycling non-ferrous metals, plastics and e-waste.


Peers
Company Name CMP
Hindalco Industries 944.40
Vedanta 259.65
Hindustan Zinc 554.30
Jain Resource Recycl 282.30
CMR Green Tech 220.30
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