CMR Green Technologies IPO

About CMR Green Technologies IPO

The IPO of CMR Green Technologies Ltd comprises only an offer for sale with no fresh issue. The offer for sale in this IPO is up to 42,890,735 of face value of ₹2 each. It’s a 100% book-built issue. The price band is TBA. The IPO opens on TBA and closes on TBA. The listing date is on TBA and the allotment date is TBA. The credit of shares to the Demat account will take place on TBA, while the initiation of refund will take place on TBA.

CMR Green Technologies Ltd is one of the leading non-ferrous metal recyclers in terms of installed capacity as of March 31, 2025 and it has the highest market share in the Indian secondary aluminium market in terms of revenue from operations for the Fiscal 2025 amongst the peer companies.

Objectives of CMR Green Technologies IPO

The company will not receive any proceeds from the offer. Each of the selling shareholders will be entitled to their respective portion of the offer proceeds. Post deduction of offer related expenses and the relevant taxes thereon to be borne by the selling shareholders.

Industry Outlook

India’s demand for recycled and recovered metals is growing rapidly, fuelled by accelerating industrialisation, urban infrastructure expansion, and a national push toward sustainable development. The domestic recycling ecosystem is still largely informal but evolving fast, with an estimated 1.5 million workers contributing to various stages of the value chain — from scrap collection to processing.

Recycled aluminium plays a crucial role in meeting India’s overall aluminium demand, currently fulfilling about ~40% of the country’s 5.3 million tonnes per year. Consumption of secondary aluminium rose approximately 1.7 million tonnes in 2023 and is projected to reach 2.4–2.5 million tonnes by 2028. In CY2024, India's recycled aluminium markets reached values of USD 4,758 million growing at CAGRs of 14.0% during CY2020 to CY2024. Looking forward, India's recycled aluminium is projected to reach USD 10,023 million by CY2030 expanding at a CAGR of 12.9% during CY2025–CY2030.

In CY2024, India's recycled aluminium market reached volumes of 2,103 thousand tons growing at a CAGR of 11.2% during CY2020–CY2024. Looking forward, India's recycled aluminium is projected to reach 4,005 thousand tons by CY2030 expanding at a CAGR of 11.1%, during CY2025–CY2030.

Company Information

CMR Green Technologies Ltd is a leading non-ferrous metal recycler in terms of installed capacity as of March 31, 2025 and had the highest market share in the Indian secondary aluminium market in terms of revenue from operations for the Fiscal 2025 amongst the peer companies.

It has a capacity advantage over domestic players, with an installed capacity of around 4 times of the nearest competitor in the domestic recycled aluminium space, as of March 31, 2025. It ranked among the largest players in the global aluminium recycling industry in terms of installed capacity as of March 31, 2025.

Strengths of CMR Green Technologies IPO

• Leading recycler in the domestic aluminium recycling industry in India
• Leading supplier of liquid aluminium alloy
• Strong and diversified supplier base for sourcing raw materials
• Long-standing relationships with customers
• Strategic alliances through joint ventures
• Experienced and qualified management team with people focused culture

Risks of CMR Green Technologies Ltd IPO

• The loss of one or more of top customers may adversely affect business, financial condition, result of operations and cash flows
• Loss of sales due to reduction in demand for products such as liquid aluminium alloys and aluminium alloy ingots could adversely affect business
• No long-term agreements with customers
• A significant change in the preference of alloys used in the automotive industry could adversely impact business
• Volatility in the supply and pricing of raw materials may have an adverse effect on business
• Inability to successfully diversify product offerings may adversely affect growth and negatively impact profitability
• Inability to successfully develop or procure specialised technology will adversely affect business
• Restrictions on import of raw materials into India or export of raw materials from the other jurisdiction may adversely impact business

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Managers

• IPO Registrar: KFin Technologies Ltd
• Book Running Lead Managers: Equirus Capital Pvt Ltd, ICICI Securities Ltd and Motilal Oswal Investment Advisors Ltd

Business Model

CMR Green Technologies Ltd manufactures recycled aluminium alloys (in ingot and liquid form), zinc alloy ingots and segregated furnace ready scrap of stainless steel, copper, brass, zinc, lead and magnesium, amongst others. The company also produces aluminium billets that cater to both automotive and non-automotive sectors.

Company Growth Trajectory

The revenue from operations of CMR Green Technologies Ltd grew from ₹5868.507 crores in FY 23 to ₹6666.485 crores in FY 25. Its EBITDA grew from ₹207.014 crores in FY 23 to ₹303.717 crores in FY 25. The number of manufacturing facilities increased from 11 in FY 23 to 13 in FY 25. A strong and diversified supplier base coupled with strategic alliance through joint ventures has helped the company grow over the years.

Market Position

CMR Green Technologies Ltd is the leading non-ferrous metal recycler in terms of installed capacity as of March 31, 2025 and it has the highest market share in the Indian secondary aluminium market in terms of revenue from operations for the Fiscal 2025 amongst the peer companies.

The company has a geographically diversified business model with revenue from operations excluding export incentives from north, west, and south India. It operates through 13 strategically located recycling units.

How to Check Allotment Status of CMR Green Technologies Ltd IPO?

1. Visit the Registrar’s Website

• Visit the official website of KFin Technologies Ltd
• Click on ‘IPO Allotment Status’ from ‘Investors’ under ‘Products’
• Click on any one of the appearing links
• Choose IPO name and enter either your application number, Demat account or PAN number
• Enter captcha and click on ‘Submit’ to know the status

2. Verify on the National Stock Exchange

The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of CMR Green Technologies Ltd IPO. Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Company name from dropdown
• Application number
• PAN

Then click 'Submit' to know the allotment status.

3. Check on the BSE Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
• Choose 'Atlanta Electricals Ltd' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search’ to know allotment status

How to Apply for CMR Green Technologies Ltd IPO?

To apply for this IPO:

• Log in to your Kotak Neo Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  
• Specify IPO details: Enter the number of lots and the price you wish to apply for.
  
• Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
  
• Mandate Notification: Your UPI app will receive a mandate notification to block funds.
  
• Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.