Recyclekaro Plans Rs 240 Crore Fundraise and IPO Amid E-Waste Expansion
Recyclekaro aims to raise Rs 240 crore within six months and is considering an IPO to enhance its recycling capabilities. This move aligns with the increasing demand for critical minerals in India’s electric vehicle and energy sectors.
Theia Market Signal Identification - AI Assisted
Recyclekaro India Limited is set to raise Rs 240 crore in equity funding over the next six months, eyeing an IPO as it expands its e-waste and lithium-ion battery recycling operations. Following a recent Rs 93 crore capital infusion, the funds will support the construction of new facilities and enhance extraction capabilities, with the goal of boosting annual lithium-ion recycling capacity from 10,000 to 26,000 metric tonnes.
The company also aims to triple its e-waste recycling capacity to 24,500 metric tonnes per annum. India's e-waste generation is projected to rise from 6.19 million metric tonnes in 2024 to 14 million by 2030, highlighting a growing market.
Recyclekaro reported Rs 219.5 crore in revenue last year and anticipates nearly doubling this to Rs 450 crore, driven by its expansion strategies and focus on high-purity material recovery. The formal recycling sector currently captures only 18% of the potential e-waste market, indicating significant opportunity for growth.
Comments