CMR Green Technologies IPO price band: The CMR Green Technologies Limited IPO price band has been fixed in the range of ₹182 to ₹192 per equity share of the face value of ₹2. The CMR Green Technologies IPO date of subscription is scheduled for Wednesday, 3 June and will close on Friday, 5 June. The allocation to anchor investors for the CMR Green Technologies IPO is scheduled to take place on Tuesday, 2 June.
The CMR Green Technologies IPO lot size is 78 equity shares and in multiples of 78 equity shares thereafter.
CMR Green Technologies IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
The company has also reserved shares worth ₹2.5 crore for employees, who may be offered the shares at a discount to the issue price.
Tentatively, CMR Green Technologies IPO basis of allotment of shares will be finalised on Monday, 8 June and the company will initiate refunds on Tuesday, 9 June, while the shares will be credited to the demat account of allottees on the same day following refund. CMR Green Technologies share price is likely to be listed on BSE and NSE on Wednesday, 10 June.
CMR Green Technologies IPO detail
The IPO is entirely an offer-for-sale (OFS) of 3.28 crore equity shares by existing promoters and investors, with no fresh issue component. As a result, the company will not receive any proceeds from the IPO, and the funds raised will go directly to the selling shareholders.
Under the OFS, promoters Mohan Agarwal, Gauri Shankar Agarwala HUF, and Mohan Agarwal HUF will collectively offload 64.59 lakh shares. Investor Global Scrap Processors will sell the remaining major portion of around 2.6 crore shares.
At the time of filing the Red Herring Prospectus (RHP) on 27 May, promoters held an 86.95% stake in CMR Green, while public shareholder Global Scrap Processors owned a 13.05% stake, equivalent to 2.85 crore shares.
Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors have been selected as the merchant bankers to oversee the CMR Green Technologies IPO.
