Jain Resource Recycling has come out with an IPO that is open till September 26. The company recycles scrap from copper, aluminium and lead to produce industry-consumable non-ferrous metals, which are used in a wide array of industries.

The company is valued at a market cap of ₹8,006 crore at the upper end of the IPO price band (₹220-232 per share), which values the company at 35.9 times FY25 earnings. The offer has a fresh issue of ₹500 crore, of which ₹375 crore will be used to clear part of the outstanding debt of ₹920 crore, as on March 31. The OFS portion is of ₹750 crore (₹715 crore from promoter). Post-issue promoter shareholding will be 73.6 per cent.

In FY23-25, the company reported sales/PAT growth of 52 per cent/56 per cent CAGR, driven by an increase in supply sources and exp

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