Jain Resource Recycling Limited disclosed that its Borrowing and Investment Committee, at its meeting held on August 25, 2026, approved the conversion of an outstanding loan of AED 1,70,64,000 (Arab Emirates Dirhams One Crore Seventy Lakhs Sixty Four Thousand only), equivalent to approximately INR 44.50 Crores, advanced to its subsidiary Jain Ikon Global Ventures FZC, UAE/Sharjah, into equity shares of Jain Ikon.

Transaction Details

  • Conversion Amount: AED 17,064,000 (equivalent to ~INR 44.50 Crores)
  • Share Price: AED 1500 per equity share (face value)
  • Valuation Basis: Based on valuation report
  • Consideration Type: Non-cash, through conversion of existing outstanding loan
  • No Fresh Cash Outflow: The transaction does not involve any fresh cash outflow by the Company

Shareholding Impact

  • Current Holding: 70.00% of Jain Ikon's equity share capital
  • Post-Conversion Holding: 99.74% of Jain Ikon's equity share capital
  • Stake Increase: 29.74 percentage points

Subsidiary Information

  • Name: Jain Ikon Global Ventures FZC, UAE/Sharjah
  • Industry: Gold and silver refining, melting, chemical purification and casting
  • Country: United Arab Emirates (Sharjah)
  • Incorporation Date: May 2024
  • Turnover History:
  • FY 2025-26: AED 36,178
  • FY 2024-25: AED 30,52,47,578 (AED 30.52 crore)

Regulatory and Compliance Aspects

  • SEBI Regulation: Disclosure under Regulation 30 of SEBI LODR Regulations
  • Related Party Transaction: Yes, as Jain Ikon is a subsidiary
  • Arm's Length Basis: Transaction certified by valuer as being on arm's length basis
  • Approvals Required: Subject to requisite corporate, regulatory and other approvals under applicable laws in India and United Arab Emirates/Sharjah

Transaction Purpose and Timeline

  • Purpose: To consolidate the Company's investment in Jain Ikon and facilitate subsequent divestment of the entire investment
  • Expected Completion: Within 2 months, subject to completion of requisite corporate and statutory formalities
  • Agreement: Loan Conversion Agreement approved by Borrowing and Investment Committee on August 25, 2026

Additional Information

  • Document Reference: JRRL/2026-27/0060 dated August 26, 2026
  • Website Hosting: Information hosted on company website www.jainmetalgroup.com as per SEBI LODR Regulations