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The shares of Nupur Recycler Ltd (NRL) were trading at ₹103.57 up by ₹2.41 or 2.38 per cent on the NSE today at 11.11 am, a day after Nupur Recycler Ltd (NRL) has announced its investment of over ₹13 crore in its subsidiary, Frank Metals, marking its second major investment in the company. This follows an initial investment of ₹27.97 crore in March 2024, which secured NRL an 80 per cent stake in Frank Metals.
The fresh funds will be used to boost Frank Metals’ production capacity from 1,500-2,000 tons per year to 5,000-6,000 tons annually. NRL also plans to expand its product offerings to include various zinc and aluminium alloys, aiming to strengthen its position in the metal recycling sector.
Frank Metals, specializing in non-ferrous metal scrap processing, began commercial production in July 2023. In its first year, the company achieved a production capacity of approximately 1,400 tons and revenue of about ₹42 crore.
Rajesh Gupta, Managing Director of Nupur Recyclers, stated that this investment aligns with their vision of setting new industry benchmarks and enhancing sustainable practices.
NRL, an importer and processor of non-ferrous metal scrap, is looking to expand its market presence in the UAE, Central Europe, and the USA.
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