CMR Green Technologies Limited is coming out with a fresh issue of equity shares aggregating up to Rs. 300 crores, and an offer for sale (OFS) of 33,414,138 shares.
The face value of each CMR Green Technologies equity share is Rs. 2 each and the combined offering will constitute the IPO.
Axis Capital Limited, JM Financial Limited and ICICI Securities Limited are the book-running lead managers of the initial public offering. Whereas, the registrar for the issue is KFin Technologies Private Limited.
As per the Draft Red Herring Prospectus (DRHP) dated 26th September 2021 filed with SEBI, the promoters of the company are –
- Gauri Shankar Agarwala
- Mohan Agarwal
- Kalawati Agarwal, and
- Pratibha Agarwal
The promoters collectively hold 181,946,580 equity shares, equivalent to 82.23% of the issued share capital of the company.
CMR Green Technologies IPO Details
The company is yet to file Red Herring Prospectus (RHP). The IPO details will be updated as soon as the company files RHP with SEBI.
| Particulars | Details |
| IPO Opening date | To be announced |
| IPO Closing date | To be announced |
| IPO Price | To be announced |
| Lot size | To be announced |
| Issue size | Rs. xx Cr (To be announced) |
| No. of fresh shares | Xx shares aggregating to Rs. 300 crores |
| Offer for Sale | 33,414,138 shares aggregating to Rs. xx crores |
| Listing on | BSE and NSE |
View here the expected list of all upcoming IPO in 2023
CMR Green Technologies IPO Timetable
We will update the data near to IPO date when disclosed by the company in its RHP or IPO advertisements.
| Particulars | Details |
| IPO Opening date | To be announced |
| IPO Closing date | To be announced |
| Basis of Allotment date | To be announced |
| Credit of Share | To be announced |
| Listing date | To be announced |
CMR Green Technologies Business Operations
The company is the largest metal recycler in the domestic aluminium recycling industry.
CMR Green Technologies is primarily focused on the recycling of aluminum, which involves the processing of aluminium-based metal scrap to manufacture –
- aluminium alloys and supplying them both in liquid form as well as solid ingots and
- the manufacturing of zinc alloys
The aluminium and zinc alloys are used by the automotive industry. It forms a large portion of the total volumes of secondary aluminium in India. And this demand is expected to grow at 14-15% CAGR over Fiscal 2021 and Fiscal 2025.
CMR Green Technologies is India’s largest recycler of aluminium and zinc alloy ingots with a combined annual capacity of 310,700 MT holding approximately 28-30% market share.
Apart from aluminium recycling, CMR Green Technologies focus on the segregation and recycling of other metals such as stainless steel, copper, brass, zinc, magnesium and steel that form part of the mixed metal scrap.
The company also recycles of end of life vehicles (“ELVs”) where we undertake dismantling, shredding and sorting of ELV parts.
CMR Green Technologies operates through 12 manufacturing facilities. 10 facilities undertake aluminium recycling operations, targeted towards the automotive manufacturing sector in India and overseas and the rest 2 from segregating other metals & scraps.
The company presently caters to 60 customers on a standalone basis, and to a total of 116 customers on a consolidated basis.
Maruti Suzuki India Limited, Rockman Industries Limited, Sunbeam Auto Private Limited, India Yamaha Motor Private Limited and Rico Auto Industries Limited are their top customers.
CMR Green Technologies GMP
Grey Market Price (GMP) information is available approximately 4-5 days before the IPO opens and persists until the listing date.
For CMR Green Technologies Ltd IPO, we have already obtained GMP data for the past 3 days, which should provide a reasonable indication of price upon listing.
GMP serves as an effective reflection of the true narrative surrounding a stock. But you need to take precautions because GMP is not an official price and only an indicative value.
Below is a brief summary of the GMP for CMR Green Technologies Ltd for the last 4 days obtained from various sources on the internet.
| Date | GMP |
| 2023 | To be announced |
| 2023 | To be announced |
| 2023 | To be announced |
| 2023 | To be announced |
CMR Green Technologies Subscription Data
The IPO data will be available only when the issue opens for the subscription. We will update the same when the issue opens.
| Date | QIB | NII | Retail | Employee | Total |
| Day – 1 2023 | – | – | – | – | – |
| Day – 2 2023 | – | – | – | – | – |
| Day – 3 2023 | – | – | – | – | – |
Learn more about how the share market works in India.
CMR Green Technologies Promoter Details
Gauri Shankar Agarwala, Mohan Agarwal, Kalawati Agarwal, and Pratibha Agarwal are the promoters of the company. They hold 82.33% of the shares.
The largest shareholding of 25.43% is with Mohan Agarwal.
In total, the promoters collectively hold 181,946,580 equity shares of the company.
CMR Green Technologies Financials
Key financials of CMR Green Technologies Ltd for the last 2 completed financial years is under.
The company was earlier known as Grand Metal Industries Limited. It was renamed to CMR Green Technologies Ltd in 2020. Hence the financials are available for 2021 & 2022.
| Details | FY- 2021 | FY- 2022 |
| Revenue from operations | Rs. 2610.20 cr | Rs. 3981.6 cr |
| Total expenses | Rs. 2398.5 cr | Rs. 3626.3 cr |
| Net Profit / (Loss) | Rs. -27.8 cr | Rs. 261.5 cr |
| EPS | Rs. -1.43 | Rs. 1.18 |
CMR Green Tech revenues from operations have increased from Rs. 2610 cr to Rs. 3981 cr. At the same time, the net loss of Rs. 27 cr turned into a net profit of Rs. 261 cr.
CMR Green Technologies Peer Comparison
There are no listed companies in India that engage in a business similar to that of CMR Green Technologies.
Accordingly, providing an industry comparison with similar listed entities’ peers is impossible.
Find here how to invest in IPO in India.
CMR Green Technologies IPO – Objects of the Issue
The company proposes to use the IPO money for –
#1. For repayment/prepayment, in full or in part, of certain borrowings by the company,
The major borrowing outstanding of the company is from Axis Bank and HDFC Bank Limited. The total borrowings outstanding as of 31st March 2021 amounts to Rs. 481.1 crores.
CMR Green Technologies proposes to utilize an amount of Rs. 225 crores from the IPO net proceeds to fully or partially repay borrowings.
#2. General corporate purposes
The company intends to use up to 25% of the net proceeds from the Fresh Issue for “General corporate purposes”.
CMR Green Technologies Tentative Issue size
Rs. xx crores. (To be announced later as soon as the company files RHP with SEBI)
Should You Invest in CMR Green Technologies Limited IPO?
CMR Green Technologies is India’s largest recycler of aluminium and zinc alloy ingots with a combined annual capacity of 310,700 MT holding approximately 28-30% market share.
They are the leading recycler and leading supplier of liquid aluminium in the domestic aluminium recycling industry in India.
The company has a strong and diversified supplier base for sourcing raw materials and operates an environment-friendly business that is supported by green technologies and processes.
The company presently caters to 60 customers on a standalone basis, and to a total of 116 customers on a consolidated basis. CMR Green Technologies has long-standing relationships with customers.
Maruti Suzuki India Limited, Rockman Industries Limited, Sunbeam Auto Private Limited, India Yamaha Motor Private Limited and Rico Auto Industries Limited are their top customers.
