CMR Green Technologies’ ₹630.88 crore initial public offering entered its second day of subscription on June 4, 2026, and continued to see strong investor demand. The IPO, which is being offered in the ₹182 to ₹192 per share price band, had been subscribed 2.86 times by 11:15 AM on Day 2. Market reports placed the grey market premium at around ₹60 per share, indicating healthy interest ahead of the issue’s closure.
The public offering will remain open until June 5, 2026. The basis of allotment is expected to be finalised on June 8, 2026, followed by refunds and credit of shares to demat accounts on June 9, 2026. The company’s shares are tentatively scheduled to list on both the NSE and BSE on June 10, 2026.
CMR Green Technologies is among India’s leading metal recycling companies, with a focus on recycled aluminium and zinc alloy products. The company operates a nationwide manufacturing network and primarily serves the automotive sector, supplying materials used by major original equipment manufacturers and Tier-1 component makers. Its customer list includes Royal Enfield, Maruti Suzuki, Hero MotoCorp, Jindal Stainless, Honda Cars India, Endurance Technologies and Bajaj Auto.
The IPO is structured as a book-building issue with a face value of ₹2 per equity share. The total issue size is up to 3.29 crore equity shares, comprising an offer for sale worth up to ₹630.88 crore. Investors can bid in lots of 78 shares. The issue is being managed by Equirus Capital Limited, ICICI Securities Limited and Motilal Oswal Investment Advisors Limited, while KFin Technologies Limited is acting as registrar.
Subscription data showed a mixed but overall positive response across investor categories. Qualified Institutional Buyers had subscribed 0.05 times, while Non-Institutional Investors led demand with 7.54 times subscription. Retail Individual Investors subscribed 2.47 times, and the employee category was subscribed 3.13 times.
Founded in 2006, CMR Green Technologies operates in the non-ferrous metal recycling industry and specialises in producing recycled zinc and aluminium alloy products for the secondary aluminium market. Its product range includes aluminium billets, zinc alloy ingots, aluminium alloys and scrap materials prepared for furnace use. The company has positioned itself as a sustainability-focused player in the industrial metals space by turning recycled materials into inputs for manufacturing.
Financially, the company reported revenue from operations of ₹6,666 crore in FY25, up from ₹5,952 crore in FY24. EBITDA improved significantly to ₹328 crore in FY25 from a loss of ₹705 crore in FY24, while profit after tax stood at ₹155 crore in FY25 compared with a loss of ₹838 crore in FY23. The improvement in profitability and operating performance has supported investor interest in the issue.
