IPO: Attero Recycling plans public listing in 3 yrs, to double capacity by 2022

E-waste recycling company Attero Recycling plans to get listed on stock exchanges in three years after doubling its electronic waste processing capacity by the end of the next year.

The company is planning to set up six new e-waste recycling plants by the end of this year and a total of 14 new plants by 2022 on a franchisee model, which will more than double its processing capacity to around 3 lakh tonnes.

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"The listing will typically be around the next three years when we will be looking at listing. The work would start on that process, probably a year or a year-and-a-half from today. The decision to list whether in India or the US will be taken at that point in time," Attero Recycling CEO and co-founder Nitin Gupta told PTI.

He said the company has also been able to extract metals from lithium-ion battery waste with 99 per cent efficiency and plans to become a supplier for battery metals in the next seven years.

Gupta claimed to be experiencing triple-digit growth in business on a year-on-year basis. This is on the back of compliance requirements in the sector mandating producers of electronic products in 30 categories, including mobile phones and laptops, to comply with e-waste rules and dispose of their product in a non-hazardous manner, he added.

"We are experiencing triple-digit growth year-on-year, and the company is profitable and cash flow-positive. Largely, this growth is driven by the fact that the government implemented extended producer responsibility (EPR) regulations.

"Today, 30 products are covered under the EPR regime. This number is expected to increase to 700 products. These targets are set to 2025," Gupta said.

He said that the company is planning to have around six franchisees in various states of the country, which will give it an additional capacity of 30,000 tonnes per year, on the top of its current capacity of 1,44,000 tonnes per year in the Roorkee facility.

"By the end of the next year, we are expecting that we will increase this number by an additional 1,56,000 tonnes per year by adding roughly around 14 franchisees and covering the entire India.

"We will essentially have a plant in every part of the country, every state of the country, and using a hub and spoke methodology," Gupta said.

He said precious metal refining is happening at its Roorkee plant.

The company is planning new plants in Telangana, Uttar Pradesh, Karnataka and Maharashtra, and in every state by the end of 2022.