CMR Green Technologies IPO to Open on 3 June; ₹631-Crore OFS Hits Dalal Street

CMR Green Technologies, a Haryana-based non-ferrous metal recycling company, is set to open its initial public offering (IPO) for public subscription on June 3. The issue will be the second IPO hitting the market next week alongside Hexagon Nutrition.

According to the offer documents, the CMR Green Technologies IPO is entirely an offer-for-sale (OFS) of 3.28 crore equity shares. At the upper end of the price band of ₹192 per share, the issue size is estimated at around ₹631 crore.

Since there is no fresh issue component, the company will not receive any proceeds from the public offer. The entire amount will go to the existing shareholders selling their stakes.

What Are the Key Details Of The CMR Green Technologies IPO?

The company has fixed a price band of ₹182–₹192 per share, with a lot size of 78 shares.

Tentative timelines released by the company show:

The company has also reserved shares worth ₹2.5 crore for employees, who will be eligible for a discount of ₹18 per share.

Among the selling shareholders, promoters Mohan Agarwal, Gauri Shankar Agarwala HUF and Mohan Agarwal HUF will collectively offload 64.59 lakh shares. Investor Global Scrap Processors will sell the remaining 2.6 crore shares, accounting for the bulk of the offer.

At the time of filing the Red Herring Prospectus, promoters held 86.95% of the company, while Global Scrap Processors owned the remaining 13.05%.

What Does CMR Green Technologies Do?

CMR Green Technologies operates in the non-ferrous metal recycling business.

The company manufactures recycled aluminium alloys in both ingot and liquid form, along with zinc alloy ingots, dross and furnace-ready scrap across metals such as stainless steel, copper, brass, zinc, lead and magnesium.

The company claims to be the largest non-ferrous metal recycler in India by installed capacity. It also states that it holds the highest market share in the domestic secondary aluminium market among its listed peers based on revenue from operations.

CMR Green competes with companies such as Pondy Oxides and Chemicals, Gravita India, Baheti Recycling Industries and Jain Resource Recycling.

With the IPO set to open next week, the company's financial performance is likely to remain under the spotlight.

How Has CMR Green Technologies Performed Financially?

The company reported a sharp turnaround in profitability over the last financial year.

For FY25, profit after tax stood at ₹155.04 crore compared with a loss of ₹838.56 crore in FY24. The previous year's loss was largely impacted by an exceptional loss of ₹1,239.6 crore.

Revenue from operations rose 12% year-on-year to ₹6,696.66 crore in FY25 from ₹5,968.44 crore a year earlier.

For the nine months ended December 2025, CMR Green reported revenue of ₹6,291 crore and a profit after tax of ₹162.39 crore. EBITDA for the period came in at ₹316.62 crore. Net worth stood at ₹594.18 crore.

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As of December 2025, the company reported total assets of ₹3,650.58 crore on its books. Total borrowings were ₹1,303.22 crore.

The numbers suggest the company has carried its earnings recovery into FY26 ahead of the planned stock market listing.

Sources:

Moneycontrol

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