Surat-based J B Ecotex files DHRP for IPO
AHMEDABAD, 29 SEPTEMBER: Surat-based J B Ecotex Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The IPO, with a face value of Rs 5, is a fresh issue for up to Rs 400 crore and an offer-for-sale for up to 12,950,000 equity shares by promoters – Jitendrakumar Fulchand Arya, Ayodhyaprasad Jugalkishore Singhal, Rajesh Ramniwas Gupta, Vishal Kejriwal, Ramdas Laxminarayan Jindal, Himanshu Surendra Jariwala, Hemant Vimalkumar Dhandharia, Monika Rajesh Gupta and Sajjan Kumar Kejriwal.
The company, in consultation with the book-running lead managers, may consider a Pre-IPO Placement for up to Rs 80 crore, prior to filing of the Red Herring Prospectus with the RoC. If the pre-IPO placement is completed, the amount raised pursuant will be reduced from the Fresh Issue.
The proceeds from its fresh issuance worth Rs 320 crore will be utilised for repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings availed by the company and its material subsidiary, and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
Incorporated in 2012, the company is the second-largest polyethylene terephthalate (PET) recycling company in India in terms of its installed capacity of 180,360 tonnes as of August 31, 2026 (Source – 1Lattice Report). It recycles PET bottles and other PET waste to manufacture recycled PET products. Its products are primarily used in textiles, food grade packaging and other packaging material. As of the date of this Draft Red Herring Prospectus, the company has filed an application for a patent in respect of its proprietary chemical recycling technology.
Its revenue from operations was Rs 827.6 crore during FY26 as compared to Rs 527.3 crore during FY24. Its net profit was Rs 22.4 crore during FY26 as compared to Rs 21.1 crore during FY24.
Motilal Oswal Investment Advisors Limited and JM Financial Limited arethe book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing)
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