CMR Green Technologies IPO Opens June 3: GMP at ₹63, Subscription Surges

The ₹630.88 crore CMR Green Technologies IPO opened for subscription on June 3, 2026, with a price band of ₹182 to ₹192 per share. The grey market premium (GMP) stood at ₹63 per share, or 33% above the upper price band, signaling strong investor appetite. By end of day, the issue was subscribed 2.46 times, with the non-institutional investor category fully booked at 5.67 times subscription.

Strong Grey Market Demand Signals Listing Gains

The GMP jumped from ₹24 per share when the price band was announced to ₹63 per share by June 3 morning, a 163% increase in just days. This 33% premium above the ₹192 upper price band suggests investors expect the stock to list around ₹255 per share on June 10. The subscription status showed non-institutional investors led demand at 5.67 times, while retail investors subscribed 2.45 times and qualified institutional buyers at 0.03 times.

What CMR Green Technologies Does

CMR Green Technologies recycles non-ferrous metals including aluminium, zinc, copper, brass, and stainless steel. The Faridabad-based company operates 13 recycling facilities across India and serves major automotive OEMs including Maruti Suzuki, Hero MotoCorp, Bajaj Auto, and Honda Cars India. Recycled aluminium uses 95% less energy than primary production, making it attractive to manufacturers cutting carbon emissions.

IPO Structure and Anchor Investor Support

The issue comprises 3.29 crore equity shares at a minimum lot size of 78 shares, requiring ₹14,976 minimum investment. The entire ₹630.88 crore is an Offer for Sale (OFS), meaning no new capital is raised for the company. Anchor investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, and Goldman Sachs subscribed ₹188.44 crore at ₹192 per share on June 2.

Timeline and Key Dates

The IPO closes on June 5, 2026. The basis of allotment is scheduled for June 8, with refunds and share credits on June 9. Shares are tentatively set to list on NSE and BSE on June 10, 2026. Book-running lead managers are Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors, with KFin Technologies as registrar.

Final Thoughts

With a 33% grey market premium and 2.46x subscription on day one, CMR Green Technologies signals strong investor confidence in India’s circular economy play. Investors betting on listing gains should monitor final subscription numbers and anchor participation through June 5.

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