CMR Green Technologies IPO: From Issue Details to Financials, Here’s What You Need to Know

Synopsis: CMR Green Technologies Limited’s ₹630.88 crore IPO opens on June 3, 2026, and offers exposure to India’s growing metal recycling sector. Strong customer relationships and improved profitability support growth, while commodity price volatility remains a key risk.

CMR Green Technologies Limited is launching its Initial Public Offering (IPO) to raise funds through a 100 percent book-built offer. The IPO comprises a pure offer for the sale of 3.29 crore equity shares aggregating up to Rs. 630.88 crore. There is no fresh issue component in this IPO.

CMR Green Technologies Limited’s IPO price band is set at Rs. 182 to Rs. 192 per share. The IPO opens for subscription on June 3, 2026, and closes on June 5, 2026. The shares will be listed on the NSE and the BSE on Wednesday, June 10, 2026. Here’s everything you need to know.

GMP of CMR Green Technologies Limited IPO

As of June 2nd, 2026, the shares of CMR Green Technologies Limited in the grey market were trading at a 29.17 percent premium. The shares in the Grey Market traded at Rs. 248. This gives it a premium of Rs. 56 per share over the cap price of Rs. 192. 

Overview of CMR Green Technologies Limited

CMR Green Technologies Limited was incorporated in 2006 and is one of India’s leading non-ferrous metal recycling companies. The company specializes in manufacturing recycled aluminium alloys, zinc alloy ingots, and secondary aluminium products for various industrial applications. It has established a strong presence in the metal recycling sector by promoting sustainable manufacturing and resource recovery solutions across the country.

The company manufactures recycled aluminium alloys in both ingot and liquid forms, aluminium billets, zinc alloy ingots, and furnace-ready scrap. Its product portfolio also includes copper scrap, brass scrap, stainless steel scrap, lead scrap, and magnesium scrap. These products cater to the automotive, engineering, electrical, and industrial sectors, supporting the growing demand for recycled metals.

CMR Green Technologies serves leading OEMs and Tier-1 automotive component manufacturers, including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki, and Jindal Stainless. As of December 31, 2025, the company employed 784 permanent employees and 3,956 contractual workmen across its operations.

Promoters of CMR Green Technologies

The promoters of CMR Green Technologies are Mohan Agarwal, Pratibha Agarwal, Akshay Agarwal, and Raghav Agarwal. The promoter group has extensive experience in metal recycling and manufacturing operations. They have played a key role in the company’s growth and expansion.

CMR Green Technologies Selling Shareholders

The IPO consists entirely of an offer for sale by existing shareholders. Mohan Agarwal is offering up to 49.59 lakh shares. Gauri Shankar Agarwala HUF is offering up to 10 lakh shares. Mohan Agarwal HUF is offering up to 5 lakh shares. Global Scrap Processors Limited is offering up to 2.64 crore shares.

Lead Managers of CMR Green Technologies IPO

The book-running lead managers for the IPO are Equirus Capital Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited. KFin Technologies Limited acts as the registrar for the issue. These institutions manage the IPO process and investor applications.

Objectives of the IPO Offer

The IPO is a complete offer for sale by existing shareholders. The company will not receive proceeds from the offer. The selling shareholders will receive the sale consideration. The primary objective is to provide liquidity and facilitate listing on stock exchanges.

Financial Analysis of CMR Green Technologies

Coming into financial highlights, CMR Green Technologies Limited’s consolidated revenue from operations has increased from Rs. 5,952.44 crore in FY24 to Rs. 6,666.49 crore in FY25, which represents a growth of 12 percent. The company’s net profit has shifted from negative to positive, from a net loss of Rs. 838.56 crore in FY24 to a net profit of Rs. 155.04 crore in FY25.

In the 9 months of FY26, CMR Green Technologies Limited has reported a consolidated revenue from operations of Rs. 6,275.52 crore and a net profit of Rs. 162.39 crore. CMR Green Technologies Limited has a PAT Margin of 2.59 percent and an EBITDA Margin of 5.17 percent. Further, CMR Green Technologies Limited’s revenue and net profit have grown at a CAGR of 6.58 percent and 21.8 percent, respectively, over the last two years.

In terms of return ratios, the company’s ROE and ROCE stand at 0.10 percent and 9.30 percent, respectively. CMR Green Technologies Limited has an earnings per share (EPS) of Rs. 7.08, and its debt-to-equity ratio is 0.76x.

CMR Green Technologies vs Peers

CMR Green Technologies Limited reported total income of Rs. 6,696.63 crore with an EPS of Rs. 6.50 and a RoNW of 31.08 percent. In comparison, Pondy Oxides and Chemicals Limited recorded total income of Rs. 2,059.16 crore with an EPS of Rs. 22.03 and a RoNW of 9.79 percent, while Gravita India Limited posted total income of Rs. 3,980.61 crore with an EPS of Rs. 45.11 and a RoNW of 15.12 percent.

Baheti Recycling Industries Limited reported total income of Rs. 524.54 crore with an EPS of Rs. 17.37 and a RoNW of 30.46 percent. Jain Resource Recycling Limited achieved total income of Rs. 6,465.44 crore with an EPS of Rs. 7.11 and a RoNW of 30.55 percent.

CMR Green Technologies Limited’s net asset value per share stands at Rs. 20.93, compared to Rs. 210.82 for Pondy Oxides and Chemicals Limited, Rs. 280.44 for Gravita India Limited, Rs. 57.02 for Baheti Recycling Industries Limited, and Rs. 22.44 for Jain Resource Recycling Limited.

Strengths of CMR Green Technologies

• The company operates a diversified network of recycling facilities across India.
• Strong relationships with automotive customers support consistent business growth opportunities.
• Experienced promoters possess extensive expertise in metal recycling and manufacturing.
• Wide geographic presence reduces dependence on a single operating region.
• Focus on sustainable recycling supports long-term environmental and regulatory advantages.

Weaknesses of CMR Green Technologies

• Business performance depends significantly on volatile global metal commodity prices.
• Raw material availability can affect production volumes and operating margins.
• Capital-intensive operations require continuous investments in plants and technology.
• Economic slowdowns may reduce industrial demand for recycled metal products.
• Regulatory changes could increase compliance costs across manufacturing operations.

Conclusion

CMR Green Technologies IPO provides investors with exposure to India’s growing metal recycling industry. The company benefits from an extensive recycling network and experienced promoters. However, investors should consider commodity price risks and industry cyclicality. A detailed review of valuations, financial performance, and risk factors remains essential before making an investment decision.

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