CMR Green Technologies IPO Analysis
CMR Green Technologies IPO is a Mainboard book-built issue worth ₹630.88 crore. The company is engaged in non-ferrous metal recycling and operates in the secondary aluminium market, with a strong focus on aluminium and zinc die-casting alloys.
As per the ICRA Report, CMR Green Technologies held an estimated 42–45% market share by volume sold in FY2025. The company manufactures recycled aluminium alloys in liquid and ingot forms and produces furnace-ready scrap of stainless steel, copper, brass, zinc, lead, and magnesium. It also manufactures aluminium billets for automotive and industrial applications.
The company serves leading OEMs and Tier-1 manufacturers, including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki, and Jindal Stainless.
Products
Aluminium Ingots
Liquid Aluminium Metal
Aluminium Billets
Copper & Brass Scrap
CMR Green Technologies IPO Details
The IPO opens on June 3, 2026, and closes on June 5, 2026. The allotment is expected on June 8, while refunds and share credits are likely on June 9, 2026.
The ₹630.88 crore IPO consists entirely of an Offer for Sale (OFS) of 3.29 crore equity shares. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of June 10, 2026.
The price band for the CMR Green Technologies IPO has been fixed at ₹182 to ₹192 per share.
IPO Timetable (Tentative)
Events | Date |
IPO Opening Date | Jun 03, 2026 |
IPO Closing Date | Jun 05, 2026 |
IPO Allotment Date | Jun 08, 2026 |
Refund Initiation | Jun 09, 2026 |
IPO Listing Date | Jun 10, 2026 |
Industry Overview
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Company Financials
(Amount in Cr)
Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 2,815.86 | 2,194.41 | 3,351.66 |
Total Income | 6,696.66 | 5,968.44 | 5,889.00 |
Profit After Tax | 155.04 | -838.56 | 104.51 |
EBITDA | 328.62 | -705.98 | 229.26 |
NET Worth | 458.38 | 317.54 | 1,195.19 |
Reserves | 1,328.84 | 1,187.99 | 2,064.76 |
Total Borrowing | 894.03 | 498.65 | 368.19 |
Cash Flows
(Amount in Mn)
Net Cash Flow | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Net Cash Flow Operating Activities | (920.03) | 741.02 | 6,108.95 |
Net Cash Flow Investing Activities | (2,348.33) | 1,337.66 | (963.40) |
Net Cash Flow Financing Activities | 3,256.02 | 307.20 | (4,843.43) |
Revenue Bifurcation
(Source: RHP)
The Objective of the Issue
The IPO is entirely an Offer for Sale (OFS), and the company will not receive any proceeds from the issue. The entire amount raised through the offer will be received by the existing selling shareholders.
Listed Peers of CMR Green Technologies Ltd.
Name of Company | Face Value (₹) | Basic EPS (₹) | PE Ratio (x) |
Pondy Oxides and Chemicals Limited | 5 | 22.03 | 62.64 |
Gravita India Limited | 2 | 45.11 | 37.36 |
Baheti Recycling Industries Limited | 10 | 17.37 | 34.59 |
Jain Resource Recycling Limited | 2 | 7.11 | 76.20 |
Valuation
KPI | Value |
ROE | 0.11% |
ROCE | 11.04% |
Debt/Equity | 0.59 |
RoNW | 31.08% |
PAT Margin | 2.32% |
EBITDA Margin | 4.56% |
Price to Book Value | 9.17 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 6.50 from the last year, the resulting P/E ratio is 29.53x.
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CMR Green Technologies IPO Strengths
One of India's leading aluminium recyclers, operating in a sector with significant entry barriers and benefiting from the growing focus on sustainable and low-carbon aluminium production.
Recognized as a leading supplier of liquid aluminium alloys in the domestic market.
Strong and diversified raw material sourcing network, ensuring a steady supply of recyclable metals.
Long-standing relationships with major OEMs and industrial customers, supporting business stability and repeat orders.
CMR Green Technologies IPO Weaknesses
Significant dependence on the automotive industry, making revenues sensitive to sector-specific slowdowns.
Exposure to fluctuations in raw material prices and reliance on imported scrap and metal inputs.
Operates in a volume-driven business where profit margins remain relatively thin.
CMR Green Technologies IPO GMP
The CMR Green IPO GMP is ₹71 as of June 6, 2026. Based on the upper price band of ₹192 per share, the estimated listing price is around ₹252 per share, indicating a potential listing gain of approximately 31.25%.
Note: GMP is unofficial and can change rapidly based on market sentiment. It should not be considered a guarantee of listing performance.
CMR Green Technologies IPO Summary
IPO Opening & Closing Date | 03 Jun, 2026 to 05 Jun, 2026 |
Face Value | Rs. 2 per Share |
Issue Price | Rs. 182 to Rs. 192 per Share. |
Lot Size | 78 Shares |
Issue Size | 3,28,58,323 Shares (Rs. 631 Cr) |
Offer for Sale | 3,28,58,323 Shares (Rs. 631 Cr) |
Fresh Issue | - |
Listing at | BSE, NSE |
Issue Type | Bookbuild issue IPO |
Registrar | Kfin Technologies Ltd. |
IPO Lot Details
Minimum Lot Investment (Retail) | 1 Lot |
Maximum Lot Investment (Retail) | 13 Lots |
HNI (Min) | 14 Lots |
CMR Green Technologies IPO Allotment Status
Investors can check the CMR Green Technologies IPO allotment status through the official website of the IPO Registrar or the BSE allotment portal once the allotment process is completed. The direct links to both platforms are provided below for easy access.
Using the BSE Website - BSE IPO allotment status
Promoters And Management of CMR Green Technologies Ltd.
Mohan Agarwal
Pratibha Agarwal
Akshay Agarwal
Raghav Agarwal.
Pre-Issue Promoter Shareholding | 86.95% |
Post-Issue Promoter Shareholding | 84% |
IPO Lead Managers
Equirus Capital Pvt. Ltd.
Dividend Policy
CMR Green Technologies has not declared or paid any dividend to its shareholders during the last three financial years.
Conclusion
CMR Green Technologies IPO is a Mainboard public issue aggregating approximately ₹630.88 crore. The company is a leading player in the non-ferrous metal recycling and secondary aluminium industry, offering products such as aluminium and zinc die-casting alloys, aluminium billets, liquid aluminium, and recycled metal scrap.
The IPO is scheduled to open on June 3, 2026, and close on June 5, 2026. The price band has been fixed at ₹182–₹192 per share, with a lot size of 78 shares. The shares are expected to be listed on the BSE and NSE on June 10, 2026.
The entire issue is an Offer for Sale (OFS), which means the company will not receive any funds from the IPO. All proceeds from the issue will be received by the existing selling shareholders.
With a strong presence in the aluminium recycling market and long-standing relationships with leading OEMs and Tier-1 automotive manufacturers, including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki, and Jindal Stainless, the company has established itself as a key supplier in the industry.
To Read the Prospectus of the company, click here to Download the DRHP.
DISCLAIMER: This blog does not constitute any buy or sell recommendation. No investment or trading advice is being provided. The content is intended solely for educational and informational purposes. Investors should consult a qualified financial advisor before making any investment decisions.
