CMR Green Technologies has successfully raised Rs 188 crore by allotting 98.14 lakh shares to anchor investors at Rs 192 per share, the upper end of its IPO price band. The allocation attracted marquee investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund, among others.
Domestic mutual funds emerged as the largest investor category, accounting for 62.47% of the anchor allocation, with investments worth about Rs 117.7 crore spread across 10 schemes. Life insurance companies, including Bajaj Allianz Life Insurance and Kotak Mahindra Life Insurance, received shares worth nearly Rs 13 crore, representing 6.9% of the anchor portion.
The IPO of CMR Green Technologies, a leading player in the metal recycling sector, is set to open for public subscription on June 3 and close on June 5. The company has set a price band of Rs 182-192 per share for the issue, with Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors as the book-running lead managers.
CMR Green Technologies specializes in manufacturing recycled aluminium and zinc products used across various sectors, including automotive and industrial applications. The company is well-positioned to benefit from the growing demand for sustainable manufacturing solutions.
The IPO arrives at a time when investors are increasingly focusing on companies linked to energy transition and sustainability themes. This issue is one of the first mainboard IPOs after a quiet period for public offerings amid market volatility and geopolitical uncertainties.
Background
CMR Green Technologies is among India's largest producers of recycled aluminium products, aligning with the increasing investor focus on sustainability and resource efficiency. The company's IPO is significant as it marks a return of mainboard IPOs after a lull in the market.
Looking ahead, the market will be closely watching the public subscription phase of CMR Green Technologies' IPO, as it could set the tone for future offerings in the sustainability sector.
