J B Ecotex files IPO papers with Sebi; eyes ₹400 crore via fresh issue
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J B Ecotex Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an Initial Public Offering (IPO) comprising a fresh issue of shares worth ₹400 crore.
Along with the fresh issue, there will be an Offer for Sale (OFS) of up to 1.29 crore equity shares by promoters, according to the Draft Red Herring Prospectus (DRHP) filed by the Surat-based company on Monday.
The company may also consider a pre-IPO placement of up to ₹80 crore. If completed, the amount raised through the placement will be reduced from the fresh issue size.
Of the fresh issue proceeds, ₹320 crore will be used for repayment or pre-payment, in full or part, of outstanding borrowings of the company and its subsidiary, with the balance earmarked for general corporate purposes.
J B Ecotex, incorporated in 2012, is engaged in recycling PET bottles and other PET waste to manufacture recycled PET products, which are used in textiles, food-grade packaging, and other packaging materials.
The company's product portfolio includes recycled polyester staple fibre, food-grade recycled PET resins, recycled PET flakes and chemically recycled resins. It operates two manufacturing facilities in Dhamdod, Surat.
The company recycled 31,244.83 million PET bottles between FY16 and FY26.
In FY26 alone, it recycled over 3,528.44 million plastic bottles, averaging more than 9.67 million bottles per day.
As of March 31, 2026, the company served more than 700 customers across India and 25 other countries. Its key customers include Varun Beverages Ltd and Moon Beverages Ltd.
J B Ecotex has also filed a patent application for its proprietary chemical recycling technology, according to the DRHP.
Its revenue from operations rose to ₹827.6 crore in FY26 from ₹527.3 crore in FY24, while net profit increased to ₹22.4 crore from ₹21.1 crore during the same period.
Motilal Oswal Investment Advisors and JM Financial are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The equity shares are proposed to be listed on the NSE and BSE.