J B Ecotex Limited has filed a Draft Red Herring Prospectus (DRHP) for an initial public offering comprising a fresh issue of equity shares aggregating up to ₹400 crore and an offer for sale of up to 12,950,000 equity shares by certain promoter selling shareholders. Trilegal is advising J B Ecotex and the promoter selling shareholders on the IPO. CMS INDUSLAW is advising Motilal Oswal Investment Advisors Limited and JM Financial Limited, the Book Running Lead Managers on this IPO.
Introduction
Surat-based J B Ecotex Limited has filed its DRHP with capital markets regulator SEBI for its Initial Public Offering. The proposed issue comprises a fresh equity issue of up to ₹400 crore and an offer for sale (OFS) of up to 12,950,000 shares by the company’s promoters. The shares are proposed to be listed on BSE and NSE.
Incorporated in November 2012, J B Ecotex Limited is engaged in the recycling of PET bottles and other PET waste to manufacture recycled PET products. The company recycled over 3,528.44 million plastic bottles in Fiscal 2026, at an average of over 9.67 million bottles per day, which was among the highest in the PET recycling industry.
Deal Value
The IPO comprises a fresh issue of up to ₹400 crore alongside an OFS of up to 12,950,000 equity shares by promoter selling shareholders. The company, in consultation with the Book Running Lead Managers, may also consider a Pre-IPO Placement of up to ₹80 crore prior to filing the Red Herring Prospectus with the Registrar of Companies; if this placement is executed, the final size of the fresh issue will be adjusted accordingly. J B Ecotex intends to use ₹320 crore from the net proceeds of the fresh issue to repay or prepay, either fully or partially, certain outstanding borrowings of the company and its material subsidiary, with the remaining capital earmarked for general corporate purposes.
Legal Teams Involved
Trilegal — Advising J B Ecotex Limited and the Promoter Selling Shareholders
Trilegal is advising J B Ecotex and the promoter selling shareholders on the IPO.
- Richa Choudhary — Partner
- Murtaza Zoomkawala — Partner
- Rainika Malhotra — Senior Associate
- Rajat Chauksey — Associate
- Pallavi Vuppu — Associate
- Nandini Ravishankar — Associate
CMS INDUSLAW — Advising Motilal Oswal Investment Advisors Limited and JM Financial Limited (Book Running Lead Managers)
CMS INDUSLAW is advising Motilal Oswal Investment Advisors Limited and JM Financial Limited, the Book Running Lead Managers on this IPO.
- Mathew Thomas — Partner
- Aman Bahl — Senior Associate
- Kirti Gohil — Senior Associate
- Preeti Gokhale — Associate
- Anoushka Sud — Associate
- Sahil Mehta — Associate
- Anupriya Dasila — Associate
- Anushka Pawar — Associate
Significance and Impact
J B Ecotex is the second largest PET recycling company in India in terms of its installed capacity as of August 31, 2026, and is involved in recycling PET bottles and other PET waste to manufacture recycled PET products. According to the 1Lattice Report, J B Ecotex is the only company in India with both mechanical and chemical PET waste recycling capabilities, and was one of two companies in India with commercial-scale chemical recycling capabilities as of August 31, 2026.
J B Ecotex supplied products to more than 700 customers across India and 25 other countries as of March 31, 2026, with customers including Varun Beverages and Moon Beverages. The IPO represents a significant capital markets moment for India’s circular economy and sustainable manufacturing sectors, bringing a large-scale PET recycler to public markets for the first time.
The Deal Meter tracks law firm activity across Indian capital markets transactions, including IPO mandates of this nature.
J B Ecotex Limited‘s DRHP filing for an IPO comprising a ₹400 crore fresh issue and an offer for sale of up to 12,950,000 equity shares marks a significant step toward a public listing for one of India’s leading PET recyclers. Trilegal and CMS INDUSLAW bring strong capital markets expertise to the issuer and the Book Running Lead Managers respectively, assembling large and experienced teams across both mandates. Further details on pricing, listing timelines, and SEBI observations were not disclosed at the time of this report.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
