About CMR Green Technologies IPO
CMR Green Technologies IPO Details
The CMR Green Technologies IPO is a 100% book-built issue of 3.28 crore shares worth up to ₹631 crore, entirely an offer for sale (OFS). The company filed its DRHP with SEBI on August 29, 2025 and received approval on January 22, 2026.
The price band of the issue is set at ₹182 to ₹192 per share and the lot size for an application is 78 shares. The minimum amount of investment required by an individual investor is ₹14,976 (78 shares).
The IPO will be open for subscription from June 3 to 5, 2026, with a tentative listing date fixed as June 10, 2026. The book-running lead managers (BRLMs) of the issue are Equirus Capital Ltd., ICICI Securities Ltd. and Motilal Oswal Investment Advisors Ltd., while the registrar to the issue is KFin Technologies Ltd.
CMR Green Technologies IPO Date & Timeline
The CMR Green Technologies IPO is officially set to open for subscription on Jun 3, 2026 and will close on Jun 5, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on August 29, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 8, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 9, 2026. Finally, the CMR Green Technologies Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 10, 2026.
CMR Green Technologies IPO Timeline
| IPO Open Date | Wed, Jun 3, 2026 |
| IPO Close Date | Fri, Jun 5, 2026 |
| Tentative Allotment | Mon, Jun 8, 2026 |
| Initiation of Refunds | Tue, Jun 9, 2026 |
| Credit of Shares to Demat | Tue, Jun 9, 2026 |
| Tentative Listing Date | Wed, Jun 10, 2026 |
| Cut-off time for UPI mandate confirmation | - |
CMR Green Technologies IPO Details
| Detail | Description |
|---|---|
| IPO Date | 3 to 5 Jun, 2026 |
| Listing Date | 10 Jun, 2026 |
| Face Value | ₹ 2 per Equity Share |
| Issue Price Band | ₹ 182 to ₹ 192 |
| Lot Size | 78 Shares |
| Sale Type | Offer for Sale (OFS) only |
| Total Issue Size | 3,28,58,323 shares (agg. up to ₹ 631 Cr) |
| Offer for Sale | 3,28,58,323 shares of ₹2 (agg. up to ₹ 631 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 21,90,55,489 shares |
| Share Holding Post Issue | 21,90,55,489 shares |
CMR Green Technologies IPO GMP
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The CMR Green Technologies IPO GMP is currently trading at ₹71, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹263, which is 36.98% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹192 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹66 and a lot size of 78 shares.
CMR Green Technologies GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 10 Jun 2026 | ₹192 | ₹66.5 | 10 Jun, 202609:54 AM |
| 9 Jun 2026 | ₹192 | ₹68.5 | 9 Jun, 202609:59 AM |
| 8 Jun 2026 | ₹192 | ₹69 | 8 Jun, 202604:06 PM |
| 7 Jun 2026 | ₹192 | ₹67.5 | 8 Jun, 202610:23 AM |
| 6 Jun 2026 | ₹192 | ₹68 | 6 Jun, 202603:41 PM |
| 5 Jun 2026 | ₹192 | ₹72 | 5 Jun, 202606:27 PM |
| 4 Jun 2026 | ₹192 | ₹60 | 4 Jun, 202609:52 AM |
| 3 Jun 2026 | ₹192 | ₹64 | 3 Jun, 202605:41 PM |
| 2 Jun 2026 | ₹192 | ₹58 | 2 Jun, 202606:11 PM |
| 1 Jun 2026 | ₹192 | ₹49 | 1 Jun, 202606:08 PM |
| 31 May 2026 | ₹192 | ₹35 | 1 Jun, 202610:01 AM |
| 30 May 2026 | ₹192 | ₹27.5 | 30 May, 202602:56 PM |
| 29 May, 2026 | ₹192 | ₹33 | 29 May, 202609:56 AM |
| 28 May, 2026 | ₹192 | ₹25 | 28 May, 202603:56 PM |
Company Background
CMR Green Technologies Ltd., incorporated as ‘Grand Metal Industries Private Limited’ in August 2005, has grown into a cornerstone of India’s recycling industry. Headquartered in Faridabad, Haryana, the company transitioned from a private entity to a public limited company in 2020, eventually rebranding to its current name in 2021. Over the last two decades, it has evolved into a sophisticated industrial enterprise that focuses on the circular economy, transforming scrap metal into high-quality industrial raw materials for various sectors.
Operations & Product Range
The core operations of CMR Green Technologies Ltd. include the collection and processing of non-ferrous metal scrap materials, with a focus on aluminium and zinc materials. Through the use of sophisticated melting and refining techniques, the company produces a range of aluminium and zinc alloys that are suitable for the automotive and engineering industries. One of the differences in the company’s operational model is the provision of liquid aluminium alloy products to the market, which enables the company’s customers to save on energy costs by avoiding the remelting process, thus emphasising the company’s 'green' credentials.
Facilities & Capacity
CMR Green Technologies Ltd. strategically locates its manufacturing facilities to serve major industrial centres in India. The company has maintained a capacity advantage over its domestic competitors, with an installed capacity 4 times that of its nearest domestic competitor in recycled aluminium products, as of 31st March 2025. The facilities are equipped with state-of-the-art furnaces, enabling the company to process large quantities of scrap and deliver high-grade alloys to its nationwide customer base.
Brands & Market Presence
CMR Green Technologies Ltd. is the leading non-ferrous metal recycler in India, with the highest market share in the secondary aluminum market for FY25. The company's brand is highly recognised among major automotive OEMs and engineering companies, with whom they have been associated for almost two decades. Despite being an Indian company, it has a global procurement network for sourcing scrap material from various global markets to support its large-scale production.
Revenue Streams & Business Model
The primary revenue stream for CMR Green Technologies Ltd. is the sale of aluminium and zinc alloy ingots and liquid metal. The business model is based on value addition through the "circular economy." The firm is a principal that sources the scrap and delivers the finished product. The firm generated revenue from operations of ₹6,669 crore for Fiscal 2025. The business model is highly efficient, utilising its massive installed capacity to retain its leadership and corner a major share of the demand for recycled non-ferrous metals in the country.
Management & Shareholding
CMR Green Technologies Ltd. is led by experienced promoters, including Chairman Mohan Agarwal, who has significant expertise in metal recycling. Before the IPO, the promoters held a substantial equity stake, but after the IPO, the ownership will be reduced by the existing shareholders, as this issue is a smooth exit opportunity for existing stakeholders.
Board & Key Management
The management of CMR Green Technologies Ltd. is led by Chairman Mohan Agarwal and Managing Director Akshay Agarwal. An independent team of directors oversees the company, ensuring its adherence to the rules and regulations applicable to public listings. CS Srishti Saxena is the Compliance Officer, responsible for the day-to-day operations of the company.
CMR Green Technologies IPO Financial Information
Latest Revenue
6,275.52
₹ Crore
Profit After Tax
162.39
₹ Crore
Net Worth
594.18
₹ Crore
Total Borrowing
1,303.22
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2025 | 3,650.58 | 6,275.52 | 162.39 | 594.18 | 1,464.64 | 1,303.22 | |||
| 31 Mar 2025 | 2,815.86 | 6,666.48 | 155.04 | 458.38 | 1,328.84 | 894.03 | |||
| 31 Mar 2024 | 2,194.41 | 5,952.44 | -838.56 | 317.54 | 1,187.99 | 498.65 | |||
| 31 Mar 2023 | 3,351.66 | 5,868.5 | 104.51 | 1,195.19 | 2,064.76 | 368.19 | |||
| Amount in ₹ Crore | |||||||||
CMR Green Technologies Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 0.1 % |
| ROCE | 9.3 % |
| Debt/Equity | 0.76 |
| RoNW | 24.92 % |
| PAT Margin | 2.59 % |
| EBITDA Margin | 5.17 % |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.08 | 9.88 |
| P/E (x) | 27.13 | 19.42 |
CMR Green Technologies IPO Objectives
The company intends to utilise the CMR Green Technologies IPO proceeds for several specific purposes:
- • Repayment or prepayment of debt (in part or in full)
- • Funding the working capital requirement
- • General corporate purposes
CMR Green Technologies IPO Review
CMR Green Technologies Ltd. stands as a mature player in an industry that is increasingly vital to India's environmental and industrial goals. Its financial profile for FY25, showing revenue of ₹6,669 crore and an EBITDA of ₹304 crore, reflects a business of substantial scale and operational stability. The company's leadership in the recycled aluminium market is well-documented and its transition into a public entity is a logical step for a firm that has already achieved significant regional and national dominance.
However, investors should be mindful of the cyclical nature of the metal industry and the company’s dependence on the automotive sector, which is its primary customer base. While this "green" trend for its alloys creates a secular tailwind for the company, it still needs to manage its scrap price volatility and maintain high operating efficiency. The neutral outlook of this CMR Green Technologies IPO Review indicates that it has a solid foundation, but its success will depend on its ability to scale its "molten metal" delivery model.
Conclusion
The CMR Green Technologies IPO represents a significant opportunity for investors to participate in India's leading metal recycling story. With a strong track record of revenue growth and market leadership, the company is in an excellent position to leverage the increased focus on the circular economy. The strategic deployment of funds for debt repayment and working capital is another interesting feature of this company.
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Competitive Strengths
Largest secondary aluminium recycler in India by installed capacity and revenue.
Diversified metals processing including aluminium, zinc and furnace‑ready scrap products.
Strong OEM customer base including automotive Tier‑1 suppliers nationwide.
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IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 78 | 14976 |
| Individual investors (Retail) (Max) | 13 | 1014 | 194688 |
| S-HNI (Min) | 14 | 1092 | 209664 |
| S-HNI (Max) | 66 | 5148 | 988416 |
| B-HNI (Min) | 67 | 5226 | 1003392 |