The subscription for CMR Green Technologies IPO will conclude on June 5. The mainboard issue continued to receive a strong response from the investors as the issue was subscribed close to 10 times on June 4.
As subscription for the IPO entered its final day, the unlisted shares of CMR Green Technologies were trading at Rs 262 in the private market. This is after the IPO recorded its highest GMP value over the last week.
Here's all you need to know about the IPO of CMR Green Technologies including its latest GMP, allotment date, price band, offer size and more.
CMR Green Technologies IPO GMP Today
The grey market premium for the CMR Green Technologies IPO was Rs 70 on June 5, indicating a listing price of Rs 262 apiece at a premium of 36.46% on the upper limit of the IPO price band.
This is the highest GMP recorded for the IPO, which has gained by more than 16% when the IPO opened for subscription on June 3.
Note: GMP does not represent official data and is based on speculation. Grey Market Premium data sourced from InvestorGain.
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CMR Green Technologies IPO: Issue Size, Price Band, Subscription Status
The CMR Green Technologies IPO is a book build issue of Rs 630.88 crore. It comprises an offer-for-sale (OFS) of 3.29 crore shares.
The price band for the IPO is set between Rs 182 and Rs 192 per share.
To participate in the IPO, retail investors need to bid for a single lot size of 78 shares, requiring an investment of Rs 14,976. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,664. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,03,392.
The IPO was booked 9.59 times so far (as of 9:00 AM) on Friday, with investors bidding for 22,10,70,720 shares against the 2,30,43,930 shares on offer.
The demand for the public issue was led by Non-Institutional Investors who booked the issue 21.80 times, followed by retail investors who subscribed to the issue 7.91 times. Qualified Institutional Buyers subscribed to the offer 3.45 times.
Equirus Capital Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
CMR Green Technologies IPO: Allotment And Listing Dates
The share allotment status for CMR Green IPO is expected to be finalised on June 8. The company will transfer shares to the demat accounts of the successful bidders on June 9 and refunds for non-allottees will take place on the same day.
The shares of CMR Green Technologies are scheduled to list on the BSE and NSE on Wednesday, June 10.
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CMR Green Technologies IPO: Use Of Proceeds
The IPO is structured solely as an OFS worth Rs 630.88 crore, with existing shareholders offloading their stakes. As a result, the company will not receive any funds from the issue. With no fresh capital being raised, the firm's key objective is to obtain a stock market listing and the benefits that come with it.
About CMR Green Technologies
CMR Green Technologies ranks among the country's leading players in the non-ferrous metal recycling industry. The company's red herring prospectus, citing an ICRA study, states that it commanded the largest share of India's secondary aluminium market by revenue in FY25.
Financials
The company's consolidated EBITDA increased by 39.70% year-on-year (YoY) to Rs 303.71 crore in FY25 from Rs 217.40 crore in FY24. It recorded a profit after tax (PAT) of Rs 155.04 crore in FY25 compared to a net loss of Rs 838.56 crore in FY24, which had been severely impacted by a one-time exceptional item.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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