CMR Green Technologies IPO Listing Today: GMP of Rs 67 Points to 35% Gains as Rs 631 Crore IPO Subscribed 127 Times Makes Market Debut
- June 10, 2026
- Posted by: Ankit Jaiswal
- Category: IPO
CMR Green Technologies IPO lists TODAY on NSE + BSE. Issue price Rs 192. GMP Rs 67-71, expected listing Rs 259-263 (+35-37%). Subscribed 127x (QIB 270x, NII 172x, Retail 27x). FY25 revenue Rs 6,696 Cr. P/E 19.42.
The CMR Green Technologies IPO listing is the headline event in India’s primary market today, as the Rs 630.88 crore IPO of one of India’s leading non-ferrous metal recyclers makes its debut on the NSE and BSE at 10 AM. The IPO was subscribed an impressive 127.04 times, led by QIBs (270.46 times) and NIIs (172.35 times), with anchor investors including Goldman Sachs Funds, BNP Paribas, and Citigroup Global Markets setting a strong institutional tone. With a grey market premium of Rs 67-71 implying a listing price of Rs 259-263 against the issue price of Rs 192, the CMR Green Technologies IPO listing is expected to deliver 35-37% gains for allottees if grey market signals translate into actual opening prices.
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About CMR Green Technologies Limited
CMR Green Technologies Limited, incorporated in 2006 and headquartered in Faridabad, Haryana, is one of India’s leading non-ferrous metal recycling companies. The company processes recycled aluminium, zinc, copper, brass, stainless steel, lead, and magnesium to manufacture secondary aluminium alloys, zinc die-casting alloys, aluminium billets, and segregated furnace-ready scrap. Its customers include marquee OEMs in India’s automotive sector: Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Maruti Suzuki, Endurance Technologies, and Jindal Stainless. The company employs 784 permanent and 3,956 contractual workers. FY25 revenue was Rs 6,696.66 crore (+12.2% YoY), and net profit was Rs 155.04 crore versus a loss of Rs 838.56 crore in FY24, marking a dramatic turnaround driven by improved realisations and operational efficiency.
| IPO Parameter | Details |
|---|---|
| Exchange | NSE + BSE (Mainboard) |
| Issue Size | Rs 630.88 crore (100% OFS) |
| Issue Price | Rs 192 per share |
| Price Band | Rs 182-192 |
| Face Value | Rs 2 per share |
| Lot Size | 78 shares |
| Min. Retail Investment | Rs 14,976 (78 shares at Rs 192) |
| Subscription Dates | June 3-5, 2026 |
| Allotment Date | June 8, 2026 (done) |
| Shares Credited | June 9, 2026 (done) |
| Listing Date | June 10, 2026 (TODAY) |
| Overall Subscription | 127.04 times |
| QIB Subscription | 270.46 times |
| NII Subscription | 172.35 times |
| Retail Subscription | 27.03 times |
| GMP (Jun 9) | Rs 67-71 per share |
| Expected Listing | Rs 259-263 (+35-37%) |
| Market Cap (at issue) | ~Rs 4,205 crore |
| P/E | 19.42 |
| EPS | Rs 9.88 |
| Registrar | KFin Technologies Ltd. |
| BRLM | Equirus Capital, ICICI Securities, Motilal Oswal Investment Advisors |
| Key Customers | Honda Cars India, Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Royal Enfield |
| FY25 Revenue | Rs 6,696.66 crore (+12.2%) |
| FY25 Net Profit | Rs 155.04 crore (vs loss FY24) |
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CMR Green Technologies Listing: What to Track Today
GMP of Rs 67-71: What It Implies for the Opening Price
The CMR Green Technologies IPO GMP peaked at Rs 77 on June 5 (final subscription day) and moderated to Rs 67-71 by June 9. Based on these GMP levels, the expected opening price range is Rs 259-263, a premium of 35-37% over the issue price of Rs 192. However, listing day prices are determined by actual buy and sell orders, not GMP. With 127x subscription, the number of allottees looking to sell on listing day (profit-booking) can be large, potentially creating selling pressure that pulls the price below GMP-implied levels. Conversely, the strength of QIB demand at 270x suggests institutional investors may buy in the secondary market on listing day if the price is attractive.
Subscription Quality: QIB-Led Demand Is the Strongest Quality Signal
For the CMR Green Technologies IPO listing, the most important subscription data point is QIB demand at 270.46 times. QIBs include domestic mutual funds, FIIs, insurance companies, and sophisticated institutional investors who conduct detailed due diligence before bidding. 270x QIB subscription alongside anchor investors of the calibre of Goldman Sachs, BNP Paribas, and Citigroup is a very strong quality signal that institutional consensus on the CMR Green Technologies IPO is positive. This institutional endorsement is often the most reliable predictor of sustained post-listing performance beyond the initial listing-day volatility.
Business Thesis: Non-Ferrous Recycling in the EV Age
The CMR Green Technologies IPO listing happens at a time when the non-ferrous metal recycling sector is gaining structural importance. The automotive sector’s transition to electric vehicles is accelerating demand for aluminium, which is used extensively in EV batteries, chassis, and body structures due to its lightweight properties. CMR Green’s position as a recycled aluminium supplier to major Indian OEMs like Bajaj, Hero, and Honda positions it at the intersection of India’s circular economy push and the EV transition. Recycled aluminium requires approximately 95% less energy to produce than primary aluminium, making CMR Green’s business both economically and environmentally aligned with future trends.
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Key Risks for CMR Green Technologies IPO Allottees
Despite the strong subscription and positive GMP, allottees should be aware of risks. The IPO is 100% OFS, meaning all Rs 630.88 crore goes to selling shareholders and not to the company for growth. Net profit of Rs 155.04 crore on revenues of Rs 6,696 crore implies very thin margins (2.3%) typical of a commodity-like distribution and recycling business. Revenue is concentrated in the automotive sector, creating cyclical risk. Some brokerages assigned a “Neutral” rating, suggesting caution on long-term valuation even while acknowledging near-term listing gain potential.
Conclusion
The CMR Green Technologies IPO listing today is set to be one of the most anticipated market events of the week. A 127x subscription, QIB demand of 270x, and GMP of Rs 67-71 all point to a strong opening. Allottees should track the opening price and volume carefully before deciding to hold for the long term or take listing gains. For investors who missed the IPO, evaluate the stock after listing-day price discovery before entering the secondary market. Consult a SEBI-registered financial advisor for personalised investment guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. GMP (grey market premium) is unofficial and unregulated by SEBI. It is not a guaranteed indicator of listing price. Verify all data before investing. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions (FAQs)
What is the expected listing price of CMR Green Technologies IPO?
Ans. Based on the last available GMP of Rs 67-71 per share, the expected CMR Green Technologies IPO listing price is Rs 259-263, representing a premium of 35-37% over the issue price of Rs 192. The GMP peaked at Rs 77 on the final day of subscription (June 5). On listing day (June 10), actual opening price may differ from GMP-implied levels based on real-time supply and demand from allottees.
How many times was CMR Green Technologies IPO subscribed?
Ans. CMR Green Technologies IPO was subscribed 127.04 times overall. QIBs led with 270.46 times subscription, NIIs were subscribed 172.35 times, and retail investors subscribed 27.03 times. Total bids received were for 2,92,75,44,594 shares against 2,30,43,930 shares on offer. This makes it one of the most oversubscribed mainboard IPOs in recent months.
What does CMR Green Technologies do?
Ans. CMR Green Technologies Limited, founded in 2006 and headquartered in Faridabad, is one of India’s leading non-ferrous metal recycling companies. It processes and recycles aluminium, zinc, copper, brass, stainless steel, lead, and magnesium to manufacture value-added products. Its customers include major OEMs and Tier-1 automotive component manufacturers like Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Maruti Suzuki, and Endurance Technologies. The company has 784 permanent and 3,956 contractual employees.
What are CMR Green Technologies’ financials?
Ans. CMR Green Technologies reported FY25 revenue of Rs 6,696.66 crore (+12.2% YoY from Rs 5,968.44 crore). Net profit was Rs 155.04 crore versus a loss of Rs 838.56 crore in FY24, marking a dramatic turnaround. The IPO is priced at a P/E of 19.42x, EPS of Rs 9.88, with a market cap of approximately Rs 4,205 crore. The IPO is 100% OFS, so the company receives no proceeds.
Should allottees hold or sell CMR Green Technologies on listing day?
Ans. CMR Green Technologies allottees have the choice to sell at listing gains (~35% based on GMP) or hold for the long term. The 127x subscription signals strong demand, which often leads to sharp opening gains followed by potential profit-booking by allottees. Investors who believe in the non-ferrous recycling thesis (circular economy, aluminium demand from EVs) may consider holding. Short-term investors may take listing gains. This article does not constitute investment advice. Consult a SEBI-registered financial advisor.
What did brokerage firms say about CMR Green Technologies IPO?
Ans. Brokerage views on CMR Green Technologies IPO were mixed. Swastika Investment assigned a ‘Neutral’ rating, noting that high-risk investors may consider it for listing gains. Equivision recommended ‘Subscribe’. Anchor investors included Goldman Sachs Funds, BNP Paribas, Citigroup Global Markets Mauritius, and Susquehanna Pacific, indicating institutional quality interest despite the 100% OFS structure.
