IPO
127x subscribed, 40% listing pop! CMR Green delivers IPO jackpot
Mumbai/IBNS: Shares of CMR Green Technologies Ltd. made a stellar stock market debut on Wednesday, with the stock surging nearly 40 percent above its issue price on the National Stock Exchange (NSE).
Strong Listing on Debut
The stock was listed at Rs. 269 per share on the NSE, representing a premium of around 40 percent over its issue price of Rs. 192.
On the Bombay Stock Exchange (BSE), the stock debuted at Rs. 260 per share and gained a further 34.74 percent during early trade.
IPO Attracts Massive Investor Interest
The company's Rs. 631-crore initial public offering (IPO) witnessed overwhelming demand from investors.
The public issue was subscribed 127 times on the final day of bidding last Friday, reflecting strong market confidence in the company.
Issue Price
The IPO was priced in the range of Rs. 182-192 per share.
The strong listing performance has rewarded investors who participated in the heavily subscribed public offering.
About CMR Green Technologies
CMR Green Technologies is one of India's leading non-ferrous metal recycling companies, specialising in the recycling of aluminium, zinc, copper and other metals.
The company converts metal scrap into value-added products that are used across industries such as automotive, electrical, consumer durables and engineering.
The company operates multiple manufacturing and recycling facilities across India and supplies recycled metal products to several domestic and international customers.
Its business model is aligned with the growing focus on sustainability, resource efficiency and the circular economy, as recycled metals require significantly less energy than primary metal production.
With increasing demand for environmentally sustainable manufacturing practices and recycled raw materials, the company is looking to strengthen its market position through operational expansion and enhanced processing capabilities.
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