Faridabad-based CMR Green Technologies, a prominent non-ferrous metal recycler, is launching its Initial Public Offering (IPO) on Wednesday, June 3. The public subscription window will remain open until Friday, June 5, with the anchor book opening a day earlier on June 2.
IPO Details and Offer Structure
The company has set the IPO price band at Rs 182 to Rs 192 per equity share. Investors can bid for a minimum of 78 equity shares, and in multiples thereof. The offering aims to raise a total of Rs 630.88 crore. Notably, this IPO is entirely an Offer-for-Sale (OFS) of up to 3,28,58,323 equity shares, meaning the proceeds will go to the selling promoters and existing shareholders, not directly to the company.
CMR Green Technologies has reserved shares worth Rs 25 crore for its eligible employees, who will receive a discount of Rs 18 per share. Of the net offer, 50% is allocated to Qualified Institutional Bidders (QIBs), 35% to retail investors, and 15% to Non-Institutional Investors (NIIs).
About CMR Green Technologies
Established in 2006, CMR Green Technologies specializes in aluminium and zinc die-casting alloys. Its product portfolio includes recycled aluminium alloys (in both ingot and liquid forms), zinc alloy ingots, and segregated furnace-ready scrap of various non-ferrous metals like stainless steel, copper, brass, zinc, lead, and magnesium. The company also produces aluminium billets catering to both automotive and non-automotive sectors. Its client roster includes major OEMs and Tier-1 automotive component manufacturers such such as Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki, and Jindal Stainless.
Financial Performance and Listing
For the nine-month period ending December 31, 2025, CMR Green Technologies reported a net profit of Rs 162.39 crore on a revenue of Rs 6,291 crore. In the preceding financial year, ending March 31, 2025, the company achieved a net profit of Rs 155.04 crore with a revenue of Rs 6,696.66 crore. The company's current market capitalization is valued at Rs 4,205 crore.
Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors are serving as the book-running lead managers for the issue, with Kfin Technologies Ltd appointed as the registrar. Shares of CMR Green Technologies are expected to be listed on both BSE Ltd and NSE on Wednesday, June 10.