Following the successful bidding of the initial public offering (IPO) of CMR Green Technologies, investors are now closely monitoring the expected listing gains for the issue ahead of its market debut.
CMR Green Technologies IPO, open for bidding from June 3 to 5, received a fantastic response from investors across all categories. Qualified Institutional Buyers (QIBs) subscribed 270.46 times their allocated quota for 65,42,929 shares offered. Non-Institutional Investors (NIIs) subscribed 172.35 times, while Retail Individual Investors (RIIs) subscribed 27.03 times their reserved portion. Overall, the IPO was subscribed 127.04 times, with bids received for 2,92,75,44,594 shares compared to 2,30,43,930 shares available.
Despite the broader market volatility, the overwhelming response to the issue has created significant buzz over its potential listing gains.
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CMR Green Technologies IPO: Listing Date
Following the completion of the allotment process, the shares of CMR Green Technologies are expected to be listed on BSE and NSE on Wednesday, June 10.
CMR Green Technologies Expected Listing Price: Here's What GMP Indicates
According to InvestorGain, the last GMP of the CMR Green Technologies IPO was Rs 70 on June 9. Based on the upper price band of Rs 192 per share, the estimated listing price is around Rs 262 (Rs 192 + Rs 70). This indicates a potential listing gain of about 36.46% per share.
Note: GMP does not represent official data and is based on speculation.
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CMR Green Technologies IPO Details
Incorporated in 2006, CMR Green Technologies Ltd. is a non-ferrous metal recycler and secondary aluminium market, specialising in aluminium and zinc die-casting alloys.
CMR Green Technologies IPO was entirely an offer for sale of 3.29 crore shares. The price band was set at Rs 182 - Rs 192. After the closing of the subscription window, the share allotment process is expected to be finalised on June 8.
Equirus Capital Pvt. Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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