CMR Green Technologies Ltd IPO
Miscellaneous
Price Band
₹182 – ₹192
Lot Size
78
Minimum Bid Quantity
78
Minimum Investment
₹14976
Issue Size
₹630.88Cr
Opens
2026-06-03
Closes
2026-06-05
Listing
10-06-2026
Subscription Status
Qualified Institutional Buyers
9.87 x
Non-Institutional Investor
85.46 x
Retail Individual Investor
15.79 x
Employees
11.79 x
Total
28.92 x
IPO Details
Issue Type
EQUITY
Face Value
₹2
Tick Size
1
ISIN
INE00WV01027
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
CMR Green Technologies Limited is involved in the recycling of non-ferrous metals and the manufacturing of recycled aluminium alloys and other metal products. The company manufactures recycled aluminium alloys in ingot and liquid form, aluminium billets, zinc alloy ingots, and segregated furnace-ready scrap of stainless steel, copper, brass, zinc, lead, and magnesium. Its products are supplied primarily to automotive original equipment manufacturers (OEMs), Tier 1 automotive suppliers, and other industrial customers. The company also supplies liquid aluminium and processes used beverage can scrap for recycling purposes. CMR Green Technologies operates 13 recycling facilities across India, located in Haryana, Gujarat, Maharashtra, Tamil Nadu, Uttarakhand, Rajasthan, Odisha, and Andhra Pradesh. As of March 31, 2026, the company had a combined production capacity of 615,150 MTPA across its recycling facilities. Use of proceeds (Objects of the offer): The IPO is an offer-for-sale (OFS). The company will not receive any proceeds from the offer. Net proceeds from the offer will go to the promoter selling shareholders in proportion to the number of shares offered by them for sale. The primary objective of the offer is to achieve the benefits of listing the equity shares on the stock exchanges, which is expected to enhance the company’s visibility and brand recognition. Listing will also provide liquidity to the existing shareholders and create a public market for the company’s shares.
Pros
- • CMR Green Technologies claims to be one of the leading non-ferrous metal recyclers in India in terms of installed capacity as of March 31, 2025. According to the ICRA report, the company had an installed capacity around four times larger than its nearest domestic competitor in the recycled aluminium space and held an estimated 42-45% market share in the cast alloy automotive segment during FY25.
- • The company claims to have a network of 13 recycling facilities across states such as Haryana, Gujarat, Maharashtra, Tamil Nadu, Rajasthan, Uttarakhand, Odisha, and Andhra Pradesh. As of March 31, 2026, these facilities had a combined installed production capacity of 615,150 MTPA.
- • The company claims to be a key supplier of liquid aluminium alloy in India and has been supplying liquid aluminium since 2008. It has manufacturing facilities located close to customer premises and claims to use patented technology and automated systems integrated with customer production systems for just-in-time delivery and monitoring of furnace levels.
Cons
- • The company derives a significant portion of its revenue from a limited customer base. Its top 3 customers contributed Rs 1,313.47 crore (20.93%), Rs 1,531.11 crore (22.98%), Rs 1,414.16 crore (23.75%), and Rs 1,271.59 crore (21.67%) to revenue from operations during the nine months ended December 31, 2025, FY25, FY24, and FY23, respectively. Any reduction in orders, loss of key customers, or adverse developments in the business performance of these customers could negatively impact the company’s revenue and profitability.
- • The company derives a substantial portion of its revenue from the sale of liquid aluminium alloys and aluminium alloy ingots. These products contributed Rs 5,095.70 crore (81.85%), Rs 5,225.60 crore (78.42%), Rs 4,576.00 crore (76.95%), and Rs 4,282.16 crore (73.13%) to revenue from operations during the nine months ended December 31, 2025, FY25, FY24, and FY23, respectively. Any decline in demand for these products, shift toward alternative materials, or loss of customers to competitors could adversely affect the company’s business and financial performance.
- • The company reported a loss of Rs 838.23 crore in FY24, compared to a profit of Rs 104.80 crore in FY23. The loss was primarily due to a goodwill impairment write-off amounting to Rs 1,239.63 crore arising from a merger undertaken in FY20. Although this was a non-cash adjustment, any further impairment charges or exceptional items in the future could negatively impact the company’s profitability, finances, and net worth.
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