J B Ecotex Submits Draft IPO Documents To Sebi, Targets ₹400 Crore From Fresh Issue Of Shares
· Free Press Journal
Mumbai: Surat-based PET recycler J B Ecotex Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) for an initial public offering. The proposed IPO includes a fresh issue of shares worth up to ₹400 crore and an offer for sale by promoters.
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According to the draft red herring prospectus filed on Monday, promoters plan to sell up to 1.29 crore equity shares through the offer for sale. The company may also raise up to ₹80 crore in a pre-IPO placement. If that placement takes place, its proceeds will be deducted from the fresh issue size.
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The company has proposed listing its shares on both the BSE and NSE. Motilal Oswal Investment Advisors and JM Financial are the book-running lead managers, while MUFG Intime India is the registrar.
Where Will the Money Go?
J B Ecotex plans to use ₹320 crore from the fresh issue proceeds to repay or prepay borrowings held by the company and its subsidiary. The remaining amount is intended for general corporate purposes. Proceeds from the promoters’ offer for sale will go to the selling shareholders.
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Founded in 2012, J B Ecotex recycles used PET bottles and other PET waste into products for textiles and packaging. Its portfolio includes recycled polyester staple fibre, food-grade PET resins, PET flakes and chemically recycled resins.
The company operates two manufacturing facilities at Dhamdod in Surat. It said it recycled more than 3.52 billion plastic bottles in FY26, equivalent to over 9.67 million bottles a day.
As of March 31, 2026, J B Ecotex served more than 700 customers across India and 25 other countries. Varun Beverages and Moon Beverages are among its customers.
Revenue from operations rose to ₹827.6 crore in FY26 from ₹527.3 crore in FY24. Net profit increased to ₹22.4 crore from ₹21.1 crore over the same period. The company has also applied for a patent covering its chemical recycling technology.