CMR Green Technologies IPO
LISTEDMAINBOARDSUBSCRIBEListing Performance
Listed
Issue Price
₹192
Listed On
10 Jun 2026
- Price Band
- ₹182 – ₹192
- Lot Size
- 78
- Lot Value
- ₹14,976
- Open Date
- 03 Jun 2026
- Close Date
- 05 Jun 2026
- Min Investment
- ₹14,976
CMR Green Technologies — Live Stock Performance
IPO Timeline
Issue Opens
03 Jun 2026 · Wed
Issue Closes
05 Jun 2026 · Fri
Bidding Cut-off (UPI Mandate)
05 Jun 2026 · 5:00 PM IST
Allotment
08 Jun 2026 · Mon
Listing
10 Jun 2026 · Wed
About CMR Green Technologies
CMR Green Technologies is a metal recycling company that manufactures aluminium alloys and ingots, primarily serving the automotive industry in India and internationally. The company operates multiple recycling and refining facilities across India and derives a significant portion of its revenue from sales to Tier 1 automotive companies and OEMs.
The company generates revenue by recycling aluminium scrap and manufacturing value-added aluminium alloys and ingots that are sold to automotive manufacturers and tier-1 suppliers under short-term purchase orders.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: BSE, NSE
Strengths (6)
- •India largest secondary aluminium recycler with ~42-45% market share in automotive cast alloy segment
- •Diversified presence across North, West, East and South India covering major OEM manufacturing clusters
- •Long-standing relationships with Tier 1 OEM customers retained for over a decade
- •Global sourcing network of 198 suppliers across 73 countries ensuring uninterrupted raw material supply
- •Among largest global aluminium recyclers by installed capacity with 13 manufacturing plants
- •Liquid aluminium alloy capability — direct supply to OEM casting lines without remelting
Risk Factors (6)
- •Entire IPO is OFS — company receives no proceeds; all funds go to selling shareholders
- •Heavy customer concentration — significant revenue from limited number of Tier 1 OEM customers
- •Raw material (aluminium scrap) prices are volatile and directly impact margins
- •FY24 reported exceptional loss of ₹838 Cr — large one-time item between profitable years
- •Promoter and promoter group selling significant stake via OFS reducing promoter commitment signal
- •Business subject to automotive sector cyclicality and slowdown in vehicle production
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Strong investor demand with 93x subscription suggests positive listing momentum. GMP indicates market expects a listing premium.”
- ✅Oversubscribed 93x
- ✅Strong QIB demand 190x
- ✅High GMP +36%
- ✅6 business strengths identified
- ⚠️6 risk factors noted
- ✅Mainboard IPO (higher regulatory standards)
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | Kfin Technologies Ltd. |
| Exchange | BSE, NSE |
| ISIN | — |
| Face Value | ₹2 |
| Issue Size | ₹631.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Equirus Capital Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited |
Company Fundamentals
7 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹4.38 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: CMR Green Technologies offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in CMR Green Technologies's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in CMR Green Technologies's filing.
Source: CMR Green Technologies offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mohan Agarwal49,59,428 sh
- Gauri Shankar Agarwala HUF10,00,000 sh
- Mohan Agarwal HUF5,00,000 sh
- Global Scrap Processors Limited2,63,98,895 sh
Source: CMR Green Technologies offer document (DRHP/RHP).
Board & Management
Board of Directors (9)
- Gauri Shankar Agarwala₹0.13 Cr p.a.
Chairman Emeritus
- Mohan Agarwal₹0.23 Cr p.a.
Managing Director
- Akshay Agarwal₹0.10 Cr p.a.
Executive Director
- Raghav Agarwal₹0.06 Cr p.a.
Executive Director
- Peter Francis Amour
Director
- Balvinder Kumar₹0.01 Cr p.a.
Independent Director
- Gyanmohan₹0.01 Cr p.a.
Independent Director
- Rashmi Verma₹0.01 Cr p.a.
Independent Director
- Girish Paman Vanvari
Independent Director
Key Managerial Personnel (2)
- Srishti Saxena₹0.01 Cr p.a.
Company Secretary
- Yugal Kishor Garg₹0.03 Cr p.a.
Chief Financial Officer
Source: CMR Green Technologies offer document (DRHP/RHP).
Industry & Market
Leading non-ferrous metal recycler in terms of installed capacity in India; highest market share in Indian secondary aluminium market in terms of revenue from operations for Fiscal 2025; estimated market share of ~42-45% in cast alloy segment for automotive industry during FY2025; ~10-12% market share in recycled aluminium industry in terms of volume sold in FY2025
Per ICRA Report, a report commissioned by the company (not independent).
Promoters
Mohan Agarwal
Chairman and Managing Director · age 62
Pre-issue: 42.85%
Pratibha Agarwal
Pre-issue: 20.25%
Akshay Agarwal
Whole-time Director · age 34
Pre-issue: 10%
Raghav Agarwal
Whole-time Director · age 31
Pre-issue: 10%
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 78 | ₹14,976 |
| Retail (max) | 13 | 1,014 | ₹1,94,688 |
| S-HNI (min) | 14 | 1,092 | ₹2,09,664 |
| S-HNI (max) | 66 | 5,148 | ₹9,88,416 |
| B-HNI (min) | 67 | 5,226 | ₹10,03,392 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| CMR Green Technologies Limited | — | — | — | — |
Material Litigation
CMR Green Technologies faces multiple pending litigations including criminal proceedings, 17 tax proceedings, and 3 material civil matters against the company (aggregate amount ₹850.87 million), along with proceedings involving its promoter Mohan Agarwal (FIRs related to a transport contractor dispute) and subsidiary-level criminal and tax matters; the materiality threshold is ₹66.67 million (0.1% of FY25 revenue from operations).
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Kfin Technologies Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 6,666.49 | 155.04 | 6.50 | — | 31.08% |
| FY24 | 5,952.44 | -838.56 | — | — | — |
| FY23 | 5,868.51 | 104.51 | — | — | — |
⚠️ The loss year is sandwiched between profitable years, which usually points to a one-time exceptional item (impairment, write-off, or restructuring charge) rather than an ongoing problem. Check the RHP for details before drawing conclusions.
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 207.01 | 217.4 | 303.72 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
29.5x
Price ÷ EPS
EPS (FY25)
₹7
Earnings per share
RoNW
31.08%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
4.6%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.03x | 0.13x | 189.62x |
| sNII (S-HNI) | 4.24x | 16.70x | 99.96x |
| bNII (B-HNI) | 4.93x | 19.01x | 168.41x |
| Retail | 1.53x | 5.04x | 17.16x |
| Total | 1.78x | 6.46x | 93.46x |
Colour: red <1x · green 1–5x · blue 5–10x · orange >10x.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
17.16x
Allotment Ratio
1 lot per 18 applicants
Allotment Probability
~5.8%
Non-Institutional Investors (NII / HNI)
Subscription
145.59x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
189.62x
Allotment Type
Discretionary allotment
Total Subscription
93.46x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| LEAP India | 14 Aug 2026 | — |
| Technocraft Ventures | 14 Aug 2026 | — |
| Ardee Industries | 12 Aug 2026 | +35.85% |
Related IPOs
Documents
Frequently Asked Questions
When is the CMR Green Technologies IPO opening?
The CMR Green Technologies IPO opens on 03 Jun 2026 and closes on 05 Jun 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the CMR Green Technologies IPO?
The price band for the CMR Green Technologies IPO is ₹182 to ₹192. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the CMR Green Technologies IPO?
The minimum lot size is 78 shares with a minimum investment of ₹14,976. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of CMR Green Technologies IPO today?
The latest Grey Market Premium for CMR Green Technologies is ₹70 (+36.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the CMR Green Technologies IPO list on NSE and BSE?
The CMR Green Technologies IPO is expected to list on 10 Jun 2026 on BSE, NSE. Actual listing day trading begins at the start of the normal market session.
How can I check the CMR Green Technologies IPO allotment status?
The registrar for this IPO is Kfin Technologies Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the CMR Green Technologies IPO a mainboard or SME issue?
CMR Green Technologies is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the CMR Green Technologies IPO?
You can apply for the CMR Green Technologies IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of CMR Green Technologies IPO?
Based on the current GMP of ₹70, the expected listing price of CMR Green Technologies is ₹262 (issue price ₹192 + GMP ₹70). Note that GMP is unofficial grey market data and actual listing price may differ.
What is the allotment ratio for CMR Green Technologies IPO?
Based on the retail subscription of 17.16x, the estimated allotment ratio is 1 lot per 18 applicants (approximately 5.8% chance of allotment). This is an estimate and actual allotment may vary.
Should I subscribe to CMR Green Technologies IPO?
Based on our algorithmic analysis, CMR Green Technologies IPO is rated SUBSCRIBE with high confidence. Strong investor demand with 93x subscription suggests positive listing momentum. GMP indicates market expects a listing premium. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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