15 April 2024 – The two sons of Vedanta executive vice-chairman Navin Agarwal founded Runaya, a metal recycling firm. According to them, the company has completed all the necessary paperwork and is only awaiting approval from banks to begin its initial public offering.
When it comes to paperwork, we are ready. In an interview with PTI, Runaya CEO and co-founder Annanya Agarwal said, “We are completely ready.” On the other hand, the firm still needs to disclose schedules or dates related to its initial public offering (IPO) strategy. “We are concentrating on developing our business.
In terms of execution, we strive to remain prepared. Our goals are to establish the greatest business and to be prepared. We will proceed when our bankers advise us that the moment is appropriate to go public, said Agarwal.
Conclusion
Runaya intends to spend an additional Rs 700 crore over the next 18 to 20 months in order to expand its company, having previously committed around Rs 300 crore. This investment of Rs. 700 crore would be used to expand our aluminium dross. Our zinc will be expanded as part of it. Therefore, around 30% of the value will come from the zinc and trash, he explained.