CMR Green Technologies Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹192
Per ShareLot Size
78 Shares
Minimum Investment
₹14,976
Issue Size
₹630.62 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
CMR Green Technologies Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
86.95%
Promoter Holding (Post-Issue)
84.01%
Issue Type
Book Building
ISIN
INE00WV01027
About the Company
We are the leading non-ferrous metal recycler in terms of installed capacity as of March 31, 2025 and we have the highest market share in the Indian secondary aluminium market in terms of revenue from operations for the Fiscal 2025 amongst the peer companies (Source: ICRA Report). CMR Green Technologies Limited 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 (Source: ICRA Report). We rank among the largest players in the global aluminium recycling industry in terms of installed capacity as of March 31, 2025 (Source: ICRA Report). We manufacture recycled aluminium alloys (in ingot and liquid form), zinc alloy ingots, dross and segregated furnace ready scrap of stainless steel, copper, brass, zinc, lead and magnesium, amongst others.
Industry Overview
The global aluminium market reached a value of USD284.6 billion and a volume of 106.5 million tons in CY2024, recording a CAGR of 11.1% in value and 4.5% in volume from CY2020 to CY2024. The global recycled aluminium market reached a value of USD 91.6 billion and a volume of 34.3 million tons in CY2024, registering a CAGR of 13.5% in value and 6.8% in volume between CY2020 and CY2024. The aluminium market in India reached a value of USD 12.07 Billion and a volume of 5,310 thousand tons in FY2025, representing a CAGR of 14.0% and 7.5%, respectively, during FY2020-FY2025. The recycled aluminium market in India reached a value of USD 4.92 Billion and a volume of 2,164 thousand Tons in FY25, representing a CAGR of 17.5% and 10.7%, respectively, during FY2020-FY2025.
Company History
Our Company was incorporated as `Grand Metal Industries Private Limited' pursuant to a certificate of incorporation dated August 23, 2005 issued by the Assistant Registrar of Companies, National Capital Territory of Delhi and Haryana. Thereafter, pursuant to the conversion of our Company to a public limited company, the name of our Company was changed to `Grand Metal Industries Limited', and a fresh certificate of incorporation dated May 28, 2020 was issued to our Company by the Registrar of Companies, Delhi. Subsequently, our name was changed to `CMR Green Technologies Limited', and a certificate of incorporation dated August 11, 2021 was issued to our Company by the Registrar of Companies, Delhi.
Products & Services
- CMR Green Technologies Ltd is the largest metal recycler in the domestic aluminium recycling industry and amongst the largest in the world.
Growth Strategy
- Diversification into Other Metals and Expanded Industry Base.
- Green Aluminium Focus domestically and globally.
- Expansion of supply of wrought alloys and partnership with primary players.
- Leverage the focus on aluminium content in electric vehicles and the growing demand of aluminium in ICE vehicles.
- Continue to invest in higher technological capabilities in order to capitalize on future trends.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 32,858,323 equity shares of face value of Rs. 2/- each ("Equity Shares") of CMR Green Technologies Limited ("Company") for cash at a price of Rs. 192 per equity share of face value of Rs. 2 each (including a share premium of Rs. 190 per equity share) ("Offer Price") aggregating to Rs. 630.62 Crores through an offer for sale of up to 4,959,428 equity shares of face value of Rs. 2 each aggregating to Rs. 95.02 Crores by Mohan Agarwal ("Promoter Selling Shareholder"), 1,000,000 equity shares of face value of Rs. 2 each aggregating to Rs. 19.16 Crores by Gauri Shankar Agarwala HUF (through its karta), 500,000 equity shares of face value of Rs. 2 each aggregating to Rs. 9.58 Crores by Mohan Agarwal HUF (through its karta) (Gauri Shankar Agarwala HUF and Mohan Agarwal HUF are collectively referred to as "Promoter Group Selling Shareholders") and up to 26,398,895 equity shares of face value of Rs. 2 each aggregating to Rs. 506.86 Crores by Global Scrap Processors Limited ("Investor Selling Shareholder") (together, the promoter selling shareholders, the promoter group selling shareholders and investor selling shareholders are collectively referred to as "Selling Shareholders" and such offer for sale by the selling shareholders, the "Offer For Sale" or the "Offer"). The offer included a reservation of 143,678 equity shares of face value of Rs. 2, aggregating to Rs. 2.5 Crores (constituting 0.07% of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The company, in consultation with the BRLMS, offered a discount of Rs. 18 per equity share to eligible employees bidding in the employee reservation portion ("Employee Discount"). The offer and net offer constitute 15.00% and 14.93% respectively, of the post-offer paid-up equity share capital of the company, respectively . Price Band: Rs. 192 per equity share of face value of Rs. 2 each. The floor price is 96.00 times of the equity shares. Bids can be made for a minimum of 78 equity shares of face value of Rs. 2 each and in multiples of 78 equity shares of face value of Rs. 2 each thereafter. A discount of Rs. 18 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Leading recycler in the domestic aluminium recycling industry in India with significant entry barriers, also positioned as a critical enabler of the aluminium industry's decarbonization imperative.
- Key supplier of liquid aluminium alloy.
- Strong and diversified supplier base for sourcing raw materials.
- Long-standing relationships with our customers.
- Strategic alliances through joint ventures.
- The company depends on a limited number of customers for significant portions of its revenues. For December 31, 2025, 20.93% of the company consolidated revenue from operations was derived from its top 3 customers, and 32.53% was contributed by the company top 5 customers. The loss of one or more of its top customers or significant reduction in production and sales of, or demand for its production from the company significant customers may adversely affect its business, financial condition, result of operations and cash flows.
- The company derives a substantial portion of its revenue from the sale of key products such as liquid aluminium alloys and aluminium alloy ingots which contribute 81.85%, 78.42%, 76.95% and 73.13% of the company revenue from operations excluding export incentives, government subsidy/ other incentive for the nine months period ended December 31, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023 respectively and any loss of sales dues to reduction in demand for these products could adversely affect its business, financial condition, results of operations and cash flows. In addition, the company may not be able to diversify into new product lines which may adversely affect its business, revenue from operations, cash flows and financial condition.
- The company has experienced losses amounting to Rs.8,382.25 million in the Fiscal 2024 and its may continue to incur losses in the future which could has an adverse effect on its business, results of operations and cash flows.
- The company has experienced negative cash flows from operating activities in previous Fiscals/ period where its operating cash flows reduced by 224.16% in Fiscal 2024 to Fiscal 2025 and the company cannot assure you that its will not experience negative cash flows in future periods. Negative cash flows may adversely affect the company financial condition, results of operations and prospects.
- The company has an outstanding proceeding initiated by Enforcement Directorate, Mumbai.