Evergreen Recyclekaro (India) To Raise ~Rs.50 Cr Issue

TL;DR

• Evergreen Recyclekaro (India) has proposed to raise Rs. 50.32 crore by issuing 387 equity shares at Rs.13,00,180 each.

• The company reported audited consolidated revenue of Rs. 432.39 crore in FY26.

• The proposed issue will be presented to shareholders at the Annual General Meeting scheduled for 2 November 2026.

Introduction

Evergreen Recyclekaro (India) Limited, an unlisted company in electronic waste and battery recycling, is drawing investors’ attention for its proposal to raise funds and its financial performance in FY26.

The company has proposed to issue fresh equity shares of Rs. 50.32 crore toward its expansion plans in critical mineral recycling and to meet working capital requirements.

The development comes as Evergreen Recyclekaro (India) posted a significant increase in annual revenue and also got fresh credit ratings from Acuité Ratings & Research.For investors tracking the Evergreen Recyclekaro (India) share price, the proposed issue introduces important questions about the company's valuation, future growth and financial position.

Evergreen Recyclekaro (India) preferential issue details

Source: Evergreen Recycle Karo Annual Report

In accordance with the notice of the AGM, the proposed issue price is based on a discounted cash flow valuation prepared by a registered valuer.

The issue price of Rs.13,00,180 is not the same as the company’s unlisted share price today. It represents the proposed subscription price for identified investors and does not establish a market-wide trading price.

How will Evergreen Recyclekaro (India) use the fundraise

Evergreen Recyclekaro (India) will use the proposed capital for capacity expansion, research and development, working capital and general corporate purposes. A key part of its proposed business strategy is to recover rare earth elements and critical minerals from electronic and industrial waste.

The AGM notice sets out four intended uses of the proceeds.

Evergreen Recyclekaro (India) FY26 Financial Results

Evergreen Recyclekaro (India) reported audited consolidated revenue from operations of Rs. 432.39 crore for FY26, compared with FY25: Rs. 218.78 Cr. This is about 97.6% revenue growth because of better recovery of valuable metals from electronic waste and the growth of recycling operations.

Evergreen Recyclekaro financial performance

Note: Investors should rely on the audited statements for the final FY26 comparison.

Evergreen Recyclekaro (India) Credit Rating Details

Source: Acuite’ Ratings Dated 13th October 2026

Evergreen Recyclekaro unlisted share price in October 2026

Buy/ Sell Evergreen RecycleKaro (India) shares from Stockify 

Will the proposed Evergreen Recyclekaro share issue impact valuation?

The proposed price of the preferential issue at Rs. 13,00,180 is higher than the earlier price of Rs. 9,28,593 for allotment of shares in February and March 2026. However, the higher proposed subscription price does not automatically mean existing shareholders have realised equivalent gains.

The company's AGM notice also indicates that the proposed placement would increase its stated shareholding base from 18,415 shares to 18,802 shares, including the ESOP component used in that table.

The issue would therefore introduce additional shares and a corresponding dilution of approximately 2.06% on that stated post-issue base. Investors should examine the fully diluted share count, valuation assumptions and expected use of funds before comparing these prices.

What to Watch Next for Evergreen Recyclekaro Shareholders

1. The event to watch in the short term is the company’s AGM on 2 November 2026.

2. The proposed preferential issue shall be subject to the approval of the shareholders at a special resolution and subsequent allotment shall be subject to the necessary approvals and formalities.

3. Beyond the vote, investors should track the final share allotment, changes in shareholding, funding utilisation and the availability of updated valuation information.

4. Financial results will also help investors assess productivity Vs higher cash generation.

Conclusion.

Evergreen Recyclekaro (India) has announced a Rs. 50.32 crore preferential issue as the company expands its recycling operations and reports strong revenue growth. Acuité’s credit rating further details the financial position of the company. The audited financial statements for FY26 show a considerable enhancement in revenue and profitability.

However, important considerations remain with negative operating cash flow, concentrated customer relationships and high working capital requirements.

FAQs

How much is Evergreen Recyclekaro planning to raise?

The company intends to mobilize Rs.50.32 crore by way of preferential issue of up to 387 equity shares.

What is Evergreen Recyclekaro revenue for FY26?

Evergreen Recyclekaro reported consolidated revenue from operations of Rs 432.39 crore for FY26 (audited).

When will Evergreen Recyclekaro consider and approve a preferential issue?

The AGM on 2 November 2026 will vote on a proposal to issue.