CMR Green Technologies Share Price: Blockbuster Listing On The Cards As GMP Signals 35% Gain

Shares of CMR Green Technologies will list on BSE and NSE today. A stellar debut is expected as GMP hints at double-digit premium for investors

Following the successful allotment and bidding of the initial public offering (IPO) of CMR Green Technologies, investors are keenly awaiting for the listing of the public issue. Despite the broader market volatility, the overwhelming response to the issue has created significant buzz over its potential listing gains.

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.

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CMR Green Technologies Expected Listing Price

The latest GMP of the CMR Green Technologies IPO was Rs 67 on June 10. Based on the upper price band of Rs 192 per share, the estimated listing price is around Rs 259 (Rs 192 + Rs 67). This indicates that the shares of CMR Green Technologies are expected to fetch listing gains of about 34.90% per share when the stock debuts on the market today.

Note: GMP does not represent official data and is based on speculation.

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CMR Green Technologies IPO Details

CMR Green Technologies IPO, which was 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.

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.

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.

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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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