CMR Green Technologies IPO Day 3 LIVE: CMR Green Technologies IPO Day 3 LIVE: The ₹631-crore initial public offering (IPO) of non-ferrous metal recycler CMR Green Technologies entered its last day of bidding today, June 5. The offer was subscribed 9.59 times overall on the second day of bidding on Thursday, driven by strong demand from non-institutional investors (NIIs).
The IPO had achieved full subscription on the opening day itself.
Ahead of the issue launch, CMR Green Technologies raised ₹188.44 crore from anchor investors through the allocation of shares at the upper end of the price band.
CMR Green Technologies IPO is priced at ₹182-192 per share.
The IPO consists entirely of an offer for sale (OFS) of up to 3.28 crore equity shares by promoters and an investor shareholder. As there is no fresh issue component, the company will not receive any proceeds from the offering.
CMR Green Technologies IPO GMP
CMR Green Technologies IPO GMP jumped to its highest so far of ₹70 per share. This means that shares of CMR Green Technologies are trading at ₹262 in the unofficial market, signalling a 36% listing pop.
The lowest GMP for the IPO has been ₹24.
About CMR Green Technologies
Faridabad-based CMR Green Technologies is one of India’s leading non-ferrous metal recyclers, manufacturing aluminium alloys, zinc alloys, and furnace-ready scrap of stainless steel, copper, brass, lead, and magnesium.
The company operates 13 recycling facilities across India and has established a sourcing network spanning domestic markets as well as Asia, Africa, the Middle East, Europe and the Americas.
Its customer base includes automotive original equipment manufacturers (OEMs) and Tier-I suppliers, with clients such as Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Rockman Industries and Craftsman Automation.
Shares of CMR Green Technologies are expected to debut on the stock exchanges on June 10.
Track this space for CMR Green Technologies Day 3 LIVE updates.
