India’s largest non-ferrous metal recycler is going public. Here’s everything an investor needs to know about CMR Green Technologies IPO .
📅 Open: Jun 3 – Jun 5, 2026📋 Listing: Jun 10, 2026 on BSE & NSE💰 Issue Size: ₹630.88 Cr
₹192Upper Price Band
78Lot Size (shares)
₹14,976Min. Investment
₹63GMP (approx.)
About the Company
CMR Green Technologies (CGTL), incorporated in 2006, is India’s #1 non-ferrous metal recycler by installed capacity. It converts aluminium, zinc, and copper scrap into high-quality alloys and billets, supplying directly to major automobile OEMs like Maruti Suzuki, Honda, Bajaj Auto, Hero MotoCorp, and Royal Enfield. CMR Green Technologies IPO
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Its installed capacity is roughly 4× that of its nearest competitor in domestic recycled aluminium, and it ranks among the world’s largest in this segment. The company also holds strategic JVs with Toyota Tsusho, Nikkei MC Aluminium, and Nippon Light Metal.
CMR Green Technologies IPO
| Issue Size | ₹630.88 Crore (100% OFS) |
| Price Band | ₹182 – ₹192 per share |
| Face Value | ₹2 per share |
| Lot Size | 78 shares |
| Min. Investment (Retail) | ₹14,976 (1 lot) |
| Max. Investment (Retail) | ₹1,94,688 (13 lots) |
| IPO Open Date | June 3, 2026 |
| IPO Close Date | June 5, 2026 |
| Allotment Date | June 8, 2026 |
| Listing Date | June 10, 2026 · BSE & NSE |
| Registrar | KFin Technologies Ltd. |
| Lead Managers | Equirus Capital · ICICI Securities · Motilal Oswal |
Quota Allocation of CMR Green Technologies IPO
| Category | Allocation |
|---|---|
| QIB (Qualified Institutional Buyers) | 50% |
| NII / HNI | 15% |
| Retail Individual Investors | 35% |
ℹ️Anchor investors committed ~₹188 crore ahead of the IPO — a positive early signal from institutions.
Important: Pure OFS Issue
⚠️
The company receives zero proceeds from this IPO.
It is a 100% Offer for Sale. Promoter Mohan Agarwal & family will sell ~64.59 lakh shares; investor Global Scrap Processors will offload ~2.6 crore shares. All money goes to the selling shareholders, not to the business.
Financial Snapshot
FY 2025 ✓
Revenue₹6,696.66 Cr
Net Profit₹155.04 Cr
Revenue Growth+12.2%
FY 2024
Revenue₹5,968.44 Cr
Net Profit−₹838.56 Cr (loss)
NoteExceptional items
📈The FY24 loss was largely due to one-time exceptional accounting adjustments — not core operational failure. FY25 shows a clear turnaround to profitability.
Subscription & Grey Market
1.40×Overall (Day 1)
2.88×NII / HNI
1.54×Retail
GMP is ₹61–₹63 per share, suggesting an expected listing around ₹253 — roughly 32% above the upper band. GMP is unofficial and can change rapidly.
Key Strengths
- 🏆 Market Leader: Largest installed capacity in India — 4× the nearest competitor in recycled aluminium.
- 🚗 Blue-chip Clients: Maruti, Honda, Bajaj, Hero MotoCorp, Royal Enfield — consistent large-volume demand.
- 🤝 Global JVs: Partnerships with Toyota Tsusho, Nikkei MC Aluminium, and Nippon Light Metal.
- 🌱 ESG & Circular Economy: Energy-efficient recycling process aligns with sustainability mandates across Indian industry.
- 📦 Diversified Products: Aluminium ingots, zinc alloys, billets, copper scrap, and brass scrap reduce single-product risk.
How to Apply
- Via ASBA — Log in to your bank’s net banking portal and apply under the IPO section using blocked funds.
- Via UPI (broker apps) — Apply on Zerodha, Groww, Angel One, or Upstox using your UPI ID. Funds blocked till allotment.
- Offline ASBA — Fill a physical ASBA form and submit at your bank branch before June 5, 2026.
- Check Allotment — Visit KFin Technologies website or BSEIndia/NSEIndia from June 8, 2026 onwards.
Analyst Verdict
Suitable for medium-to-long-term investors
CGTL is a real business with a genuine competitive moat — market leadership, blue-chip clients, and strong ESG positioning. The financial turnaround from FY24 to FY25 is encouraging.
However, the IPO is fully priced at the upper band, and as a pure OFS, no money flows into the company. For listing-day traders, GMP indicates moderate upside. For long-term investors playing India’s circular economy and auto-sector growth story, this is worth considering.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Grey market premium (GMP) figures are unofficial and indicative only. Please read the Red Herring Prospectus (RHP) and consult a SEBI-registered financial advisor before investing.
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