CMR Green Technologies IPO subscribed 4.34x on Day 2 so far; NIIs lead with 10x demand

CMR Green Technologies IPO: The initial public offering (IPO) of CMR Green Technologies Ltd has stepped into its second day of bidding, with the issue subscribed 4.34 times the net offer so far. As of 11:50 am, investors have bid for a total of 9.9 crore shares against the total shares offered. The issue got a strong investor response and was fully booked on the first day of its bidding.

CMR Green Technologies IPO subscription status

By 11:50 am, the Qualified Institutional Buyers (QIBs) portion has received bids for 3.57 lakh shares out of the 65.42 lakh shares reserved, resulting in a 0.05 times subscription.

The Non-Institutional Investors (NIIs) category has booked 10.08 times, with bids for 4.94 crore shares against the 49.07 lakh reserved.

Retail Individual Investors (RIIs) have also oversubscribed 4.33 times the allotted shares so far, with 4.95 crore shares bid against the 1.14 crore shares allotted.

CMR Green Technologies IPO details

CMR Green Technologies' Rs 630.88 crore book-built IPO is entirely an offer for sale (OFS) of shares. In this issue, existing shareholders will offload 3.29 crore equity shares, which means that the company itself will not receive any proceeds from the IPO. And all the proceeds will go to the selling shareholders.

The selling shareholders include promoter and investor entities such as Mohan Agarwal, Gauri Shankar Agarwala HUF, Mohan Agarwal HUF, and Global Scrap Processors Limited, all of whom are reducing their stake through the OFS route.

IPO price band: The price band for the issue has been fixed at Rs 182 to Rs 192 per share. At the upper end, the company is valued at a pre-IPO market capitalisation of approximately Rs 4,205.87 crore.

IPO subscription and other key dates: The IPO subscription window will open on June 3, 2026, and close on June 5, 2026. The basis of allotment is expected to be finalised on June 8, with listing scheduled for June 10, 2026, on both the NSE and BSE.

Lot size: For investors, the minimum application lot size is 78 shares, which translates to a minimum investment of Rs 14,976 for retail category at the upper price band.

IPO investor categories

The issue allocation structure includes up to 50 per cent for Qualified Institutional Buyers (QIBs), at least 35 per cent for retail investors, and a minimum of 15 per cent for Non-Institutional Investors (NIIs).

Book-running lead manager and registrar details

The IPO is being managed by Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors as book-running lead managers, while Kfin Technologies Limited is acting as the registrar.

About CMR Green Technologies Ltd

CMR Group is an Indian company that produces aluminum and zinc die casting alloy products. CMR Group has been increasing its production capacity over the years by way of capacity expansion, technology upgradation, and through other strategic business relationships.

The group's operations began in 2006 with the commissioning of its first manufacturing facility in Tatarpur, near New Delhi. The plant was equipped with technologies such as regenerative burners, baghouse systems, pump furnaces, de-coaters, rotary sieves, heavy media separation systems, induction-based sorting systems, colour sorting systems, eddy current separators, gravimetric separation units, shredders, and automated charging systems.

Today, CMR Group operates 13 manufacturing facilities across India, including five plants under three joint ventures with Japanese companies Toyota Tsusho Corporation, Nikkei MC Aluminium, and Nippon Light Metal Company Limited.

The company says it was among the early players to introduce large-scale aluminium recycling in a largely unorganised domestic industry. It has also invested in automated alloying and mechanised sorting facilities equipped with technologies such as spectrometers, shredders, eddy current separators, and gravimetric separation units. In addition, the group supplies molten metal to customers through both adjacent manufacturing facilities and road-based transportation networks.

Apart from its alloy business, the company is also engaged in the production of aluminium billets. Its manufacturing operations are supported by certifications related to quality management, environmental standards, occupational health and safety, and research and development.