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Jain Resource Recycling converts AED 17 million loan into equity, boosting ownership of Jain Ikon
26-Aug-2026, 12:51
Jain Resource Recycling Limited announced that its Borrowing and Investment Committee approved the conversion of an outstanding loan of AED 1,70,64,000 (approximately Rs 44.50 crore) to its subsidiary, Jain Ikon Global Ventures FZC, into equity shares, increasing the company's ownership from 70.00% to 99.74%. The conversion, intended to consolidate the investment and facilitate a subsequent divestment, is subject to regulatory approvals in India and the United Arab Emirates and is expected to be completed within two months.