Surat-based JB Ecotex files DRHP with SEBI to launch IPO; check key details
Surat-based JB Ecotex has filed its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering.
- Sep 29, 2026,
- Updated Sep 29, 2026 1:24 PM IST
Surat-based JB Ecotex has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO, with a face value of Rs 5 per share, comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 12,950,000 equity shares.
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 are participating in the offer-for-sale
JB Ecotex said it may consider a pre-IPO placement of up to Rs 80 crore in consultation with the book-running lead managers before filing the red herring prospectus with the Registrar of Companies. If the placement is completed, the amount raised through it will be reduced from the fresh issue.
According to the DRHP, proceeds from the fresh issue worth Rs 320 crore will be used for repayment or pre-payment, in full or in part, of certain outstanding borrowings taken by the company and its material subsidiary, as well as for general corporate purposes.
The offer is being made through the book-building process, with not more than 50 per cent of the net offer reserved for qualified institutional buyers, and not less than 15 per cent and 35 per cent allocated to non-institutional bidders and retail individual bidders, respectively.
Incorporated in 2012, JB Ecotex is the second-largest polyethylene terephthalate recycling company in India by installed capacity of 180,360 tonnes as of August 31, 2026, according to the 1Lattice Report. The company recycles PET bottles and other PET waste to make recycled PET products used mainly in textiles, food-grade packaging and other packaging material.
The report said JB Ecotex is the only company in India with both mechanical and chemical PET waste recycling capabilities, and one of two companies in the country with commercial-scale chemical recycling capabilities as of August 31, 2026. It operates two manufacturing facilities in Dhamdod, Surat: the JB Ecotex manufacturing facility, which has two separate units, and the JB rPET manufacturing facility.
As of August 31, 2026, the company had installed captive wind power capacity of 7.20 MW across three windmills and captive solar capacity of 6.60 MW. In FY26, 63.52 per cent of its total power consumption came from captive power generation and contracted renewable power sources.
Revenue from operations rose to Rs 827.6 crore in FY26 from Rs 527.3 crore in FY24, while net profit increased to Rs 22.4 crore from Rs 21.1 crore. Motilal Oswal Investment Advisors and JM Financial are the book-running lead managers, while MUFG Intime India is the registrar. The shares are proposed to be listed on the NSE and BSE.
Surat-based JB Ecotex has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO, with a face value of Rs 5 per share, comprises a fresh issue of up to Rs 400 crore and an offer for sale of up to 12,950,000 equity shares.
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 are participating in the offer-for-sale
JB Ecotex said it may consider a pre-IPO placement of up to Rs 80 crore in consultation with the book-running lead managers before filing the red herring prospectus with the Registrar of Companies. If the placement is completed, the amount raised through it will be reduced from the fresh issue.
According to the DRHP, proceeds from the fresh issue worth Rs 320 crore will be used for repayment or pre-payment, in full or in part, of certain outstanding borrowings taken by the company and its material subsidiary, as well as for general corporate purposes.
The offer is being made through the book-building process, with not more than 50 per cent of the net offer reserved for qualified institutional buyers, and not less than 15 per cent and 35 per cent allocated to non-institutional bidders and retail individual bidders, respectively.
Incorporated in 2012, JB Ecotex is the second-largest polyethylene terephthalate recycling company in India by installed capacity of 180,360 tonnes as of August 31, 2026, according to the 1Lattice Report. The company recycles PET bottles and other PET waste to make recycled PET products used mainly in textiles, food-grade packaging and other packaging material.
The report said JB Ecotex is the only company in India with both mechanical and chemical PET waste recycling capabilities, and one of two companies in the country with commercial-scale chemical recycling capabilities as of August 31, 2026. It operates two manufacturing facilities in Dhamdod, Surat: the JB Ecotex manufacturing facility, which has two separate units, and the JB rPET manufacturing facility.
As of August 31, 2026, the company had installed captive wind power capacity of 7.20 MW across three windmills and captive solar capacity of 6.60 MW. In FY26, 63.52 per cent of its total power consumption came from captive power generation and contracted renewable power sources.
Revenue from operations rose to Rs 827.6 crore in FY26 from Rs 527.3 crore in FY24, while net profit increased to Rs 22.4 crore from Rs 21.1 crore. Motilal Oswal Investment Advisors and JM Financial are the book-running lead managers, while MUFG Intime India is the registrar. The shares are proposed to be listed on the NSE and BSE.