Applicants for the CMR Green Technologies Initial Public Offering (IPO) are awaiting the finalization of share allotment, which is expected today, Monday, June 8. The strong investor response saw the IPO subscribed a remarkable 127.04 times during its bidding period from June 3 to June 5.
The Faridabad-based company, a prominent non-ferrous metal recycler specializing in aluminium and zinc die-casting alloys, aimed to raise Rs 631 crore through an entirely offer-for-sale (OFS) of up to 3,28,58,323 equity shares. Shares were offered in a price band of Rs 182-192 apiece, with a minimum lot size of 78 shares.
IPO Subscription Details and Grey Market Premium
The IPO attracted over 33.77 lakh applications, generating bids worth approximately Rs 56,200 crore. Qualified Institutional Bidders (QIBs) showed overwhelming interest, subscribing 270.46 times their allocated portion. Non-Institutional Investors (NIIs) subscribed 172.35 times, while the retail portion saw a subscription of 27.03 times. The employee portion was booked 18.53 times.
Following the robust bidding, CMR Green Energy's Grey Market Premium (GMP) has seen a significant recovery. Latest reports indicate a GMP of Rs 72-75 per share, suggesting a potential listing gain of 37-39 percent for investors. This is a substantial increase from its initial GMP of around Rs 24 per share on the first day of bidding.
Refunds for unsuccessful bidders are scheduled for Tuesday, June 9, with shares expected to be credited to successful applicants by the same date. CMR Green Technologies is slated to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, June 10.
How to Check CMR Green IPO Allotment Status
Investors can check their allotment status through several official channels:
1. Via BSE Website
- Visit the official BSE website: bseindia.com/investors/appli_check.aspx
- Under 'Issue Type', select 'Equity'.
- From the 'Issue Name' dropdown, choose 'CMR GREEN TECHNOLOGIES'.
- Enter your application number.
- Input your PAN card ID.
- Complete the 'I am not a Robot' captcha and click 'Search'.
2. Via NSE Website
- Go to the NSE website for checking IPO bids: nseindia.com/invest/check-trades-bids-verify-ipo-bids
- Select 'Equity & SME IPO Bid details'.
- In the 'Select Symbol' field, choose 'CMRGREEN'.
- Enter your PAN Number and Application Number.
- Click 'Submit' to view your status.
3. Via KFin Technologies (Registrar) Website
Kfin Technologies Ltd. is the official registrar for the CMR Green IPO. You can check the allotment status on their portal:
- Navigate to the KFin Technologies IPO status portal: kosmic.kfintech.com/ipostatus
- Select the CMR Green IPO from the dropdown menu (it will appear once allotment is finalized).
- Choose one of three modes to check: Application number, Demat Account number, or PAN ID.
- If prompted, select between ASBA and non-ASBA.
- Enter the required details based on your chosen mode.
- Fill in the security captcha accurately.
- Click 'Submit' to get your allotment status.
Equirus Capital, Motilal Oswal Investment Advisors, and ICICI Securities served as the book running lead managers for the IPO.