CMR Green Technologies Raises ₹188 Crore From Anchor Investors Ahead Of IPO Opening On 3 June

CMR Green Technologies locked in ₹188.4 crore from 15 anchor investors on 2 June, a day before its initial public offering (IPO) opened for public subscription. The company allotted 98.14 lakh shares to anchor investors at ₹192 per share, the upper end of the price band.

The CMR Green Technologies IPO, which opens on 3 June and closes on 5 June, aims to mobilise ₹630.9 crore through the issuance of 3.28 crore equity shares at a price band of ₹182 to ₹192 per share.

The issue is entirely an offer for sale by promoters and investor Global Scrap Processors, meaning the company itself will not receive any proceeds from the offering.

Who Came In As Anchor Investors

Domestic mutual funds were the biggest category, accounting for 62.47% of the anchor allocation and investing around ₹117.7 crore across 10 schemes.

Seven mutual fund houses participated, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund and Kotak Mutual Fund, along with 360 One Asset, Abakkus Asset Manager and Edelweiss Mutual Fund. A total of 61.31 lakh shares were allocated to domestic mutual fund schemes.

Further, two life insurance companies received an allocation of 6.77 lakh shares from the anchor book portion. These included Bajaj Life Insurance and Kotak Mahindra Life Insurance Company.

Foreign institutional investors also participated. Goldman Sachs Funds acquired 10.41 lakh shares worth ₹20 crore. BNP Paribas Funds Emerging Markets Environmental Solutions purchased 4.01 lakh shares valued at ₹7.71 crore.

Meanwhile, Citigroup and Susquehanna Pacific each picked up 2.6 lakh shares, with both investments amounting to ₹5 crore each.

About The Company

CMR Green Technologies operates in the non-ferrous metal recycling space, manufacturing recycled aluminium and zinc die-casting alloys used across automotive, engineering and industrial applications. The company claims to be India's leading non-ferrous metal recycler by installed capacity and says it holds the highest market share in the Indian secondary aluminium market by revenue among peer companies.

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The IPO comes at a time when investor interest in sustainability, circular economy and energy transition themes is growing. Strong institutional participation in the anchor book suggests appetite remains for companies well-positioned in long-term manufacturing and resource efficiency trends, despite broader market uncertainty from elevated crude prices and geopolitical headwinds.

Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors are the book-running lead managers for the issue.

Sources:

Moneycontrol

The Economic Times