CMR Green Technologies Shares List At Rs 275; 43% Premium Against Issue Price Of Rs 192

Shares of CMR Green Technologies Ltd, a non-ferrous metal recycling company, made a strong debut on the stock exchanges on Wednesday, listing at a premium of more than 43% over the IPO price. On the BSE, the stock debuted at Rs 275.40 per share, marking a gain of 43.43% against the issue price of Rs 192. On the NSE, it opened at Rs 268, reflecting a premium of 39.58%.

Following the listing, the company’s market capitalisation stood at around Rs 5,505 crore.

The company’s Rs 631-crore initial public offering (IPO) had witnessed overwhelming investor demand. The issue was subscribed 127 times on the final day of bidding, driven by robust participation from qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

The IPO was offered

in the price band of Rs 182-192 per share.

Headquartered in Faridabad, CMR Green Technologies is engaged in recycling and manufacturing a range of non-ferrous metal products, including aluminium and zinc alloys, as well as furnace-ready scrap of stainless steel, copper, brass, lead and magnesium.

The company operates 13 recycling facilities across India and sources raw materials through a procurement network spread across domestic and international markets, including Asia, Africa, Europe, the Middle East and the Americas.

CMR Green Technologies mainly caters to the automotive sector, supplying recycled metal products to original equipment manufacturers (OEMs) and Tier-I auto component makers. Its client roster includes companies such as Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Rockman Industries and Craftsman Automation.