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CMR Green Technologies is expected to make a strong debut on the stock exchanges after its initial public offering (IPO) received an overwhelming response from investors. The company, which focuses on aluminium and non-ferrous metal recycling, is currently commanding a grey market premium (GMP) of around 36 per cent. Based on the issue price of INR 192 (USD 2.02) per share, market observers expect the stock to list near INR 261 (USD 2.74).
{alcircleadd}The IPO, valued at INR 6.31 billion (USD 66.3 million), was entirely an offer for sale and was subscribed more than 127 times. There was strong demand among institutional investors, while non-institutional and retail investors also showed significant interest.
Ahead of the issue, the company raised INR 1.88 billion (USD 19.7 million) from anchor investors.
Analysts have linked the strong response to CMR's position in India's aluminium recycling industry. The company is the country's largest non-ferrous metal recycler and a major supplier of secondary aluminium products
Explore: The most comprehensive and forward-looking industry-focused report – World Recycled ALuminium Market Analysis Industry forecast to 2032
Brokerages have highlighted the company's large production capacity and strong presence in the automotive sector. CMR is estimated to hold a market share of around 42-45 per cent in the automotive cast alloy segment and supplies products to manufacturers including Maruti Suzuki, Bajaj Auto, Honda Cars India and Hero MotoCorp.
The company produces recycled aluminium alloys, aluminium billets, zinc alloy ingots and other recycled metal products. It operates 13 recycling facilities across India and sources scrap from both domestic and overseas markets.
There are growth opportunities linked to electric vehicles, e.g., increased use of aluminium in vehicles, recycling initiatives and efforts to reduce industrial emissions.
CMR also reported revenue of INR 66.97 billion (USD 703.2 million) and a net profit of INR 1.55 billion (USD 16.3 million) in FY25.
During the end of December 2025, the company posted revenue of INR 62.91 billion (USD 660.6 million) and profit after tax of INR 1.624 billion (USD 17 million).
With strong subscription levels and positive sentiment ahead of listing, investors are watching closely to see whether CMR Green Technologies can deliver one of the stronger IPO debuts seen in recent months.
Explore our e-magazine Sustainability & Recycling: Aluminium's Dual Commitment for the latest industry insights and trends.
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