Jain Resource Recycling will see an additional 12 million shares become eligible for trading in the open market following the expiry of the three-month IPO anchor lock-in period. These shares account for approximately 4% of the company's total outstanding equity, according to Nuvama's estimates.

Strong Post-IPO Performance

The stock has delivered impressive performance on the exchanges, hitting a high of ₹461.00 and rallying 98% over the issue price within approximately a month and a half. Despite correcting 12% from its peak, the stock continues to trade 77% above the IPO price of ₹232.00 per share.

IPO Details and Response

The ₹1,250.00 crore Initial Public Offering launched on September 24 consisted of a fresh issue worth ₹500.00 crore and an offer for sale valued at ₹750.00 crore. The company listed on October 1, 2025 at a 14% premium of ₹265.00 over the IPO price.

Investor response was robust, with the issue getting oversubscribed 16.8 times overall. The subscription breakdown showed strong institutional interest:

Ashish Kacholia's Investment

Following the company's listing, Ashish Kacholia's stake stands at 1.14%, representing 39,16,875 equity shares according to BSE shareholding data for the September quarter. The shares were allotted to Bengal Finance & Investment Private Limited, an entity associated with Kacholia, in a pre-IPO offer. This investment places him among the top 10 shareholders of the company, with his stake valued at ₹160.40 crore according to Trendlyne data.

Business Operations

Jain Resource Recycling operates in the recycling and manufacturing of non-ferrous metals including lead, copper and aluminium. The company runs three recycling facilities near Chennai and maintains a gold refining unit in the UAE through a subsidiary. Its customer portfolio includes major domestic and global companies such as Vedanta, Luminous Power, Mitsubishi Corporation and Nissan Trading. The company has established export operations to Singapore, China, Japan and South Korea, building an international presence within three years of operations.

Jain Resource Recycling Limited has announced a postal ballot notice to seek shareholder approval for two significant corporate resolutions through remote e-voting. The company, engaged in recycling ferrous and non-ferrous metals, has set December 12, 2025, as the cut-off date for determining eligible shareholders.

Executive Director Appointment

The company seeks approval for appointing Mr. Sanchit Jain (DIN: 08751991) as Executive Director for a one-year term effective October 21, 2025. The Board of Directors and Nomination and Remuneration Committee had already approved this appointment in their respective meetings held on October 21, 2025.

Mr. Sanchit Jain, son of Managing Director Mr. Kamlesh Jain, currently heads the company's operations and brings extensive experience in the recycling industry with in-depth exposure to non-ferrous metal segments including Lead, Copper, and Aluminium. His remuneration package includes basic salary, allowances, perquisites, and other benefits as per company policy, with potential performance-based incentives determined by the Board.

Secretarial Auditor Appointment

The second resolution involves appointing M/s. VAK Associates, Practicing Company Secretaries (Firm Registration No. P2025TN322600), as the company's secretarial auditors. This appointment follows recent amendments to Regulation 24A of SEBI Listing Regulations requiring listed entities to conduct secretarial audits.

The firm provides professional services in Corporate Law, Capital Markets Securities Laws, Foreign Investment Exchange Control, NBFC, Intellectual Property Rights, Mergers & Acquisitions, and regulatory compliance matters.

Voting Schedule and Process

The postal ballot will be conducted exclusively through remote e-voting, with KFin Technologies Limited serving as the registrar and share transfer agent. M/s. BP Associates, Practicing Company Secretaries, have been appointed as scrutinizers to ensure fair and transparent voting.

Company Performance Context

The explanatory statement reveals the company's strong financial performance across recent years. The recycling company, which commenced commercial operations on February 25, 2022, has shown consistent growth in revenue and profitability.

The postal ballot notice has been sent electronically to shareholders whose email addresses are registered with the company or depositories. Physical copies will not be distributed in compliance with Ministry of Corporate Affairs circulars. The voting results will be communicated to stock exchanges and displayed on the company's website at https://jainmetalgroup.com upon completion of the scrutiny process.