CMR Green Technologies IPO
CMR Green Technologies Limited is set to launch its IPO for public subscription on June 3, 2026, and will remain open until June 5, 2026.
The price band of the CMR Green Technologies IPO is ₹182 to ₹192 per equity share. The allotment is expected to be finalised on June 8, 2026.
The IPO will be listed on both the BSE and NSE on June 10, 2026.
The issue is a ₹630.88 crore book-building issue, comprising entirely of an offer for sale (OFS) of up to 3,28,58,323 equity shares. Since this is a 100% OFS, the company will not receive any proceeds from this IPO – the entire amount goes to the selling shareholders.
Business Overview of CMR Green Technologies
CMR Green Technologies Limited, incorporated in 2006 and headquartered in Faridabad, is one of India's leading non-ferrous metal recycling companies. The company processes and recycles aluminium, zinc, copper, brass, stainless steel, lead, and magnesium to manufacture value-added products for industrial use.
The company's product portfolio includes:
- Recycled aluminium alloys – supplied in both ingot and liquid form to automotive manufacturers.
- Zinc alloy ingots – used across die casting and industrial applications.
- Aluminium billets – for extrusion and fabrication use.
- Furnace-ready scrap – segregated scrap of stainless steel, copper, brass, lead, and magnesium for direct industrial consumption.
CMR Green Technologies operates 13 recycling facilities across India with a combined production capacity of 6,15,150 MTPA as of March 31, 2026.
According to the ICRA Report, the company is the largest non-ferrous metal recycler in India by installed capacity. It holds an estimated 42–45% market share in the cast alloy automotive segment (as of FY25).
The company's customer base primarily consists of automotive OEMs and Tier-1 suppliers, including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Rockman Industries, and Craftsman Automation.
Their network spans domestic markets as well as Asia, Africa, West Asia, Europe, and the Americas.
CMR Green Technologies IPO Date, Price, and Other Details
| Particulars | Details |
|---|---|
| IPO Size | Book Build issue of ₹630.88 crore |
| Offer Type | Offer for Sale (OFS) of up to 3,28,58,323 equity shares |
| Total Number of Equity Shares | 3,28,58,323 shares |
| Price Band | ₹182 to ₹192 per share |
| Issue Dates | Opens: Jun 3, 2026 · Closes: Jun 5, 2026 |
| Anchor Investor Date | Jun 2, 2026 |
| Minimum Bid Lot | 1 lot of 78 shares |
| Minimum Investment (Retail) | ₹14,976 (at upper band) |
| Allotment Date | Jun 8, 2026 |
| Listing Date | Jun 10, 2026 |
| Face Value | ₹2 per share |
| Lead Managers (BRLMs) | Equirus Capital Pvt. Ltd., ICICI Securities Ltd., and Motilal Oswal Investment Advisors Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
CMR Green Technologies IPO Reservation: Who Can Apply?
| Investor Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 78 | ₹14,976 |
| Retail (Max) | 13 | 1,014 | ₹1,94,688 |
| sNII (Min) | 14 | 1,092 | ₹2,09,664 |
| sNII (Max) | 66 | 5,148 | ₹9,88,416 |
| bNII (Min) | 67 | 5,226 | ₹10,03,392 |
Strengths and Risks of CMR Green Technologies IPO
Strengths
- India's largest non-ferrous metal recycler by installed capacity, around ~4x the nearest domestic competitor (Source: ICRA Report)
- 42–45% market share in the cast alloy automotive segment as of FY25
- 13 recycling facilities across India with 6,15,150 MTPA combined capacity
- Supplies to major auto OEMs – Honda, Bajaj, Hero MotoCorp, Royal Enfield, Endurance Technologies
- ISO 14001, ISO 45001, and IATF 16949 certified across operations
- 2,73,724 carbon credits and solar-powered facilities, aligned with circular economy goals
Risks
- 100% OFS – the company receives no proceeds from this IPO.
- FY24 reported a loss of ₹838.56 crore due to a one-time goodwill impairment write-off of ₹1,239.63 crore.
- Heavy revenue dependence on the automotive sector.
- Top 3 customers contribute ~21–24% of revenue, creating customer concentration risk.
- Aluminium alloys account for 78–82% of revenue, which limits product diversification.
- Exposed to global commodity price volatility impacting raw material costs and margins.
Future Plans
- Expand production capacity through continued investment in plant and equipment.
- Form strategic alliances for advanced “Green” aluminium recycling technologies.
- Diversify product mix beyond aluminium (like zinc, copper, and other non-ferrous segments).
- Deepen partnerships with existing auto OEMs and explore adjacent industrial sectors.
- Listing on exchanges to enhance brand visibility and provide shareholder liquidity.
CMR Green Technologies IPO Objectives – How Will the Funds Be Used?
The CMR Green Technologies IPO is entirely an Offer for Sale (OFS). The company will not receive any proceeds from this IPO.
The entire amount of the CMR Green Technologies IPO raised will go to the selling shareholders.
- Mohan Agarwal
- Gauri Shankar Agarwala HUF
- Mohan Agarwal HUF
- Global Scrap Processors Limited
How To Check the IPO Allotment Status of CMR Green Technologies?
- Visit the IPO allotment portal: https://ipostatus.kfintech.com/
- Select "CMR Green Technologies Limited" from the company dropdown.
- Enter any of these details – PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click on the "Submit" button to view your IPO allotment status.
Promoter Shareholding of CMR Green Technologies IPO
| Promoter | Pre-Issue Holding | Post-Issue Holding (est.) |
|---|---|---|
| Promoter Group (Agarwal Family) | 83.10% | 80.83% |
The promoters include Mohan Agarwal, Pratibha Agarwal, Akshay Agarwal, and Raghav Agarwal.
Financial Performance (₹ in crores) of CMR Green Technologies IPO
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 3,650.58 | 2,815.86 | 2,194.41 | 3,351.66 |
| Total Income | 6,291.00 | 6,696.66 | 5,968.44 | 5,889.00 |
| Profit After Tax | 162.39 | 155.04 | -838.56 | 104.51 |
| EBITDA | 316.62 | 328.62 | -705.98 | 229.26 |
| Net Worth | 594.18 | 458.38 | 317.54 | 1,195.19 |
| Reserves and Surplus | 1,464.64 | 1,328.84 | 1,187.99 | 2,064.76 |
| Total Borrowing | 1,303.22 | 894.03 | 498.65 | 368.19 |
Key Performance Metrics of CMR Green Technologies
| KPI | As of Dec 31, 2025 | Values (as of FY 2024-25) |
|---|---|---|
| Return on Equity (ROE) | 0.10 | 0.11 |
| Net Asset Value (NAV) | 27.12 | 20.93 |
| Price/Earnings (P/E) Ratio | - | - |
| Earnings Per Share (EPS - Diluted) | 6.76 | 6.50 |
| EBITDA Margin (%) | 5.17% | 4.56% |
| PAT Margin (%) | 2.59% | 2.32% |
| Debt to Equity Ratio | 0.76x | 0.58x |
(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)
Registrar of CMR Green Technologies IPO
The Registrar of CMR Green Technologies IPO is Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://www.kfintech.com
Lead Manager of CMR Green Technologies IPO
In total, 3 lead managers are handling the IPO process of CMR Green Technologies Limited:
- Equirus Capital Pvt. Ltd.
- ICICI Securities Ltd.
- Motilal Oswal Investment Advisors Ltd.
