Jain Resource Recycling Increases Stake in Jain Ikon to 99.74%

Jain Resource Recycling Ltd has approved the conversion of an outstanding loan of AED 1,70,64,000 (approx. INR 44.50 Crores) advanced to its subsidiary, Jain Ikon Global Ventures FZC, into equity shares. This transaction will increase the company's shareholding in Jain Ikon from 70% to 99.74%. The conversion is a non-cash transaction aimed at consolidating the company's investment and facilitating a future divestment. It is subject to regulatory approvals in India and UAE and is expected to be completed within two months. Jain Ikon operates in gold and silver refining, melting, chemical purification, and casting.