CMR Green Technologies Cuts IPO Size Ahead of June 3 Launch

New Delhi, May 29:Faridabad-based non-ferrous metal recycler CMR Green Technologies has reduced the size of its upcoming initial public offering ahead of the issue opening for subscription on June 3.

According to the company’s Red Herring Prospectus (RHP), the IPO will now comprise an offer-for-sale (OFS) of up to 3.28 crore equity shares, lower than the previously proposed issue size of up to 4.29 crore shares.

The IPO opens on June 3, and the subscription closes on June 5. The anchor investor portionopens up on June 2. Shares of the company are proposed to be listed on the BSE and NSE, with the tentative listing date scheduled for June 10.

Entirely Offer-for-Sale

The IPO is entirely an OFS, meaning the company itself will not receive any proceeds from the issue. Instead, all the funds will go straight to the shareholders who are selling through the IPO.

Promoters Gauri Shankar Agarwala HUF, Mohan Agarwal HUF, and Mohan Agarwal will sell 64.59 lakh shares. Global Scrap Processors, which is an investor based out of Mauritius, will offload almost 2.64 crore shares.

At the time of filing the RHP, promoter and promoter group entities held about 86.95% stake in the company, while Global Scrap Processors owned the remaining 13.05%.

The company has also reserved shares worth Rs 2.5 crore for employees, who may subscribe at a discount to the final offer price.

Price Band, Financials

CMR Green Technologies has fixed a price band of Rs 182-192 per share for the IPO. At the upper end of the band, the issue size is estimated at around Rs 631 crore.

The minimum bid lot for retail investors has been set at 78 shares.

CMR Green Technologies is among India’s leading non-ferrous metal recyclers and manufactures recycled aluminium alloys, zinc alloy ingots and segregated furnace-ready scrap for sectors including automotive and industrial manufacturing. Its customers include major automobile companies such as Honda Cars India, Hero MotoCorp, Bajaj Auto and Yamaha Motor.

For FY25, the company reported revenue of Rs 6,666.5 crore, up 12% year-on-year, while net profit stood at Rs 155 crore compared with a loss in the previous fiscal year that was impacted by exceptional items.

Book-running lead managers are Motilal Oswal Investment Advisors, Equirus Capital, and ICICI Securities. KFin Technologies is the registrar.

Source:

• https://cmr.co.in/wp-content/uploads/2026/05/CMRG-Red-Herring-Prospectus.pdf