CMR Green Technologies IPO will close today i.e. on 5th June. What is the GMP of the issue, what is the price band, how many times it was subscribed, when will the allotment and listing take place? Know the answers to all such questions.
CMR Green Technologies IPO Latest Update: The IPO of CMR Green Technology will be open for investment between June 3 and 5. This mainboard issue is getting good response from investors. By June 4, it had been subscribed almost 10 times. CMR Green Technologies IPO is a book-build issue of ₹630.88 crore. This includes an offer-for-sale (OFS) of 3.29 crore shares. The price band for the IPO has been fixed at ₹182 to ₹192 per share.
How much is the GMP of CMR Green Technologies IPO?
According to Investorgain, as of 11 am on June 5, the issue was trading at a premium of Rs 70.5 in the gray market. The price band of the issue is Rs 192. This means that it can be listed 36.72% above its issue price i.e. around Rs 262.5. However, GMP is only an estimate and does not necessarily mean that the listing will be at this price.
How much investment for one lot?
To participate in the IPO, retail investors will have to bid for a lot size of 78 shares, which will require an investment of ₹14,976. Small non-institutional investors will have to bid for 14 lots, with a total investment of ₹2,09,664. Large non-institutional investors can participate in the IPO by bidding for a minimum of 67 lots. This will result in an investment of ₹10,03,392.
How many issues have been subscribed so far?
As of 11:06 am on Friday, bids have been made 17.38 times for this IPO. In this, investors have bid for 40,05,88,344 shares against the offer of 2,30,43,930 shares. Non-Institutional Investors (NII) were at the forefront in the demand for this public issue, who subscribed it 48.02 times. This was followed by retail investors, who subscribed 12.13 times. Qualified Institutional Buyers (QIB) subscribed the offer 3.77 times. Equirus Capital Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar to the issue.
CMR Green Technologies IPO: Allotment and listing date
The share allotment status for CMR Green IPO is expected to be finalized on June 8. The company will transfer shares to the demat accounts of successful bidders on June 9 and those who did not receive shares will get refund on the same day. CMR Green Technologies shares are scheduled to be listed on BSE and NSE on Wednesday, June 10.
CMR Green Technologies IPO: Existing shareholders are selling stake
This IPO has been brought entirely in the form of OFS (Offer for Sale) worth Rs 630.88 crore, in which the existing shareholders are selling their stake. As a result, the company will not receive any funds from this issue. Since no new capital is being raised, the main objective of the company is to get listed on the stock market and reap the benefits from it.
What does CMR Green Technologies do?
CMR Green Technologies is one of the country’s leading companies in the non-ferrous metal recycling industry. Citing an ICRA study, the company’s red herring prospectus said it had the highest share in India’s secondary aluminum market in terms of revenue in FY25. The company’s consolidated EBITDA increased by 39.70% (y-o-y) to Rs 303.71 crore in FY25 from Rs 217.40 crore in FY24. It reported a profit after tax (PAT) of ₹155.04 crore in FY25, compared to a net loss of ₹838.56 crore in FY24, which was badly hit by one-time extraordinary items.