CMR Green Technologies IPO Day 1 LIVE: The initial public offering (IPO) of CMR Green Technologies, a leading non-ferrous metal recycling company, is available for public subscription from June 3. The offer will close on June 5. The issue is entirely an offer for sale (OFS) with no fresh issue component worth ₹630.88 crore.
Under the offer, promoters and an investor shareholder will collectively sell up to 3.28 crore equity shares. Since the IPO does not include a fresh issue, the company will not receive any proceeds from the offering.
Promoter and promoter group shareholders Mohan Agarwal, Gauri Shankar Agarwal HUF, and Mohan Agarwal HUF are among the selling shareholders, along with investor shareholder Global Scrap Processors.
CMR Green Technologies IPO has been priced in the range of ₹182-192 per share. Investors can bid for a minimum of 78 shares, requiring an investment of ₹14,976 at the upper end of the price band.
The ₹188.4 crore from anchor investors”>company has raised ₹188.4 crore from anchor investors ahead of its IPO. According to an exchange filing, the company allotted 98.14 lakh equity shares to 18 anchor investors at ₹192 per share.
CMR Green Technologies IPO GMP
CMR Green Technologies IPO GMP today is ₹63. This means that shares of CMR Green Technologies are trading ₹63 above the upper end of the price band.
At the current GMP, CMR Green Technologies IPO listing could occur at ₹255, signalling a listing gain of nearly 33%. This is the highest GMP so far for the company, while the lowest was ₹24.
About the company
CMR Green Technologies is among India’s largest non-ferrous metal recyclers. According to its red herring prospectus, citing an ICRA report, the company held the highest market share in India’s secondary aluminium market by revenue in FY25 among its peer group.
The company also enjoys a significant scale advantage, with installed capacity nearly four times that of its closest domestic competitor in the recycled aluminium segment.
Its product portfolio includes recycled aluminium alloys in ingot and liquid form, zinc alloy ingots, dross, and furnace-ready scrap of stainless steel, copper, brass, zinc, lead and magnesium, among other products.
Track this space for LIVE updates on CMR Green Technologies Day 1.
