CMR Green Technologies IPO Subscribed 18 Times on Final Day; NII Quota Booked 50 Times

Mumbai, June 5:The ₹631-crore initial public offering of CMR Green Technologies IPO which is an offer for sale witnessed strong demand from investors on the final day of bidding, with the issue being subscribed 18 times overall.

Robust participation from non-institutional investors (NIIs), retail investors and qualified institutional buyers (QIBs) helped drive the strong response despite volatile broader market conditions.

The NII portion led the subscription charts, attracting bids worth 50 times the shares reserved for the category. The retail investor segment was subscribed 12.6 times, while the QIB quota received bids for 3.78 times the shares on offer.

Strong Interest Across Investor Categories

The strong oversubscription reflects investor confidence in the company’s business model and growth prospects in the metal recycling and circular economy space.

Subscription momentum picked up significantly on the final day, with institutional and high-net-worth investors placing large bids as the issue approached closure. The healthy response from retail investors also points to strong participation from individual market participants seeking exposure to the sustainability and recycling theme.

Grey market premium signals healthy listing gains

Investor enthusiasm has also been reflected in the grey market, where the stock was commanding a premium of around 37% over its issue price, according to market reports.

Based on the upper end of the IPO price band, the current grey market premium (GMP) indicates a strong listing gains, although GMP is unofficial and can fluctuate significantly ahead of listing.

The sustained premium suggests that market participants expect healthy demand for the stock when it debuts on the exchanges.

Issue Details

The IPO is an offer-for-sale, priced in the range of Rs 182-192 per share, with a lot size of 78 shares. CMR Green Technologies is among India’s leading metal recycling companies and supplies recycled aluminium and other non-ferrous metal products to sectors such as automotive, engineering and industrial manufacturing. Growing focus on sustainability, resource efficiency and circular economy practices has boosted investor interest in the segment.

What Investors Should Watch

After the issue closes, investors will turn their attention to the allotment process and eventual listing. Given the strong oversubscription, allotment is expected to be competitive, particularly in the retail and NII categories.

Market participants will also monitor whether the grey market premium sustains in the run-up to listing, as broader market sentiment and global cues could influence the stock’s debut performance.

Source:

• https://www.nseindia.com/market-data/issue-information?symbol=CMRGREEN&series=EQ&type=Active