Even as global markets remain cautious due to tensions between the US and Iran, a new IPO has opened for subscription in India and is attracting significant attention.
The IPO belongs to CMR Green Technologies, a leading non-ferrous metal recycling company.
What has caught investors’ attention is the strong rise in its Grey Market Premium (GMP), which is often seen as an indicator of market interest.
Investors can apply for the IPO until June 5, 2026.
IPO Price Band and Lot Size
CMR Green Technologies has fixed the IPO price band at ₹182 to ₹192 per share.
Investors must apply for a minimum lot of 78 shares.
Any additional application must be made in multiples of 78 shares.
The company opened the issue for anchor investors earlier this week, while retail and other investor categories can subscribe now.
Company Plans to Raise Over ₹630 Crore
Through this IPO, CMR Green Technologies aims to raise ₹630.88 crore.
The company will issue over 3.28 crore equity shares as part of the public offering.
According to company management, the funds raised will support future growth plans and strengthen the company’s position in the recycling industry.
What Does CMR Green Technologies Do?
CMR Green Technologies is based in Faridabad, in the Delhi-NCR region.
The company specializes in recycling non-ferrous metals such as:
Aluminium
Copper
Zinc
Stainless Steel
Magnesium
It collects scrap metal from India and several international markets, removes impurities through recycling processes, and converts the material into reusable metal products.
The company serves several well-known industrial clients, including:
Honda Cars India
Bajaj Auto
Hero MotoCorp
Royal Enfield
Maruti Suzuki
Jindal Stainless
Financial Performance of the Company
The company has reported strong financial numbers in recent years.
For the period ending December 31, 2025:
Revenue stood at ₹6,291 crore
Net profit was ₹162.39 crore
For the financial year ending March 31, 2025:
Revenue was ₹6,696.66 crore
Net profit stood at ₹155.04 crore
Based on the IPO pricing, the company’s estimated market capitalization is around ₹4,205 crore.
GMP Shows Strong Investor Interest
One of the biggest reasons behind the buzz around this IPO is its rising Grey Market Premium.
When the price band was announced, the GMP was around ₹24 per share. By the end of the same day, it had climbed to ₹33.
On the opening day of the IPO, the GMP reportedly reached ₹63 per share, which is nearly 33% higher than the upper end of the price band.
Although GMP is unofficial and does not guarantee listing gains, it often reflects investor sentiment toward an IPO.
What Are Brokerages Saying?
Several brokerage firms have given positive views on the issue.
SBI Securities has assigned a “Subscribe” rating, suggesting investors consider applying for the IPO.
Meanwhile, Kantilal Chhaganlal Securities has recommended the issue for long-term investment.
As always, investors should evaluate their own risk appetite and investment goals before making a decision.
Listing Date and Other Details
The IPO is proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
If the schedule remains unchanged, the shares are expected to be listed on June 10, 2026.
The IPO’s lead managers include Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors, while KFin Technologies is acting as the registrar to the issue.
Bottom Line
CMR Green Technologies has entered the market with a sizeable IPO backed by strong financial performance and growing investor interest.
The sharp rise in GMP has further increased attention around the issue.
With subscription open until June 5, investors looking at IPO opportunities may want to closely examine the company’s business model, financials, and long-term growth prospects before investing.
