Shares of CMR Green Technologies Ltd. climbed in early trade on Thursday, rising over 4% at their intraday peak before trimming gains. The stock touched a high of Rs 251 apiece which is up 4.06% by 10:27 am, before paring some of the advance to trade 2% higher at Rs 246.61 as of 10:42 am.
The move came even as the broader market remained subdued, with the NSE Nifty 50 Index slipping 0.05%.
CMR Green Technologies Ltd. Share Price Today
CMR Green Technologies Share Price Today
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Shares of CMR Green Technologies Ltd. settled with a premium of over 29% against the issue price of Rs 192 on Wednesday which was Day 1 of their BSE listing. The stock started trading at Rs 275.40, registering a 43.43% jump from the issue price on the BSE.
The company's market valuation stood at Rs 5,430.39 crore. In traded volume terms, 38.23 lakh shares of the firm were traded at the BSE and 390.84 lakh shares on the NSE.
The initial public offering (IPO) of CMR Green Technologies received a whopping 127-times subscription on the closing day of bidding on Friday, following strong participation from qualified institutional buyers and non-institutional investors. The Rs 631-crore IPO had a price band of Rs 182-192 per equity share.
Faridabad-based CMR Green Technologies processes and manufactures aluminium alloys (ingot and liquid), zinc alloys and furnace-ready scrap of stainless steel, copper, brass, lead and magnesium, among others.
The company operates 13 recycling facilities across India and has built a procurement network spanning domestic markets as well as Asia, Africa, the Middle East, Europe and the Americas. Its customer base primarily comprises automotive original equipment manufacturers (OEMs) and Tier-I suppliers.
Its clients include Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield Motors, Endurance Technologies, Rockman Industries, and Craftsman Automation.
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