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Jain Resource Recycling converts AED 1,70,64,000 loan into equity shares of Jain Ikon
26-Aug-2026, 12:53
Jain Resource Recycling Limited, formerly known as Jain Resource Recycling Private Limited, announced it executed a Loan Conversion Agreement with its subsidiary, Jain Ikon Global Ventures FZC, Sharjah, United Arab Emirates, on Tuesday, August 25, 2026. The agreement converts an outstanding loan of AED 1,70,64,000, equivalent to approximately INR 44.50 crore, into 11,376 equity shares of Jain Ikon, with a face value of AED 1,500 each, to consolidate the company’s investment in the entity, which has ceased operations and has a negative net worth.