Jain Metal Group, a non-ferrous metal and plastic recycling enterprise, plans to take its flagship company, Jain Resource Recycling, public within the next two years. The Chennai-based firm has set aside $50 million for an ambitious expansion across India and Sri Lanka, along with exploring new recycling ventures.
“The IPO is an important avenue for securing funding for future growth, and we are seriously considering it. Internal discussions are ongoing regarding the size and timing, and we will decide and announce our plans in due course,” Mayank Pareek, Managing Director of the Group told businessline.
The proposed IPO will be in addition to the $50 million already earmarked for expansion. “We are working on multiple projects, and our funding requirements may increase. If the IPO materializes, it will open up new financial avenues. Currently, everything is still at the discussion stage, but we aim to enter the market within the next couple of years,” Pareek added.
As the recycling industry evolves, Jain Metal Group is also exploring opportunities in EV battery recycling, tyre recycling, solar panel recycling, and e-waste recycling.
The $50 million investment, planned over the next two to three years, will be used to add new recycling lines for various materials and developing value-added products by expanding beyond feedstock production. This investment will also be utilized for funding Sri Lanka’s titanium mining and manufacturing operations, and advancing core recycling technologies, with a planned capacity of 240,000 tonnes per annum for heavy mineral extraction.
The group expects Indian operations’ revenue to grow to ₹6,400 crore in FY25, up from ₹4,500 crore in FY24. Including global operations (such as its UAE business), total revenue is projected to reach ₹7,200 crore in FY25.
Founded in the 1950s, Jain Metal Group started as a brass and copper rolling enterprise before expanding into aluminium and steel over the past 75 years. It has established itself as a strong company in large-scale non-ferrous metal and plastic recycling. In recent years, the company has expanded into aluminium recycling and invested in advanced PVC extraction technology for processing plastic scrap.
The group operates through three entities. Jain Resource Recycling Private Ltd, its flagship company, was originally formed as Jain Metal Rolling Mills in 1954 and later reconstituted as a private limited company in 2022. Another firm Jain Green Technologies Private Ltd specializes in producing recycled-content aluminium alloys. Its overseas ventures include titanium mining in Sri Lanka and gold refining in the UAE.
