Read, Digital Desk : The offer is purely an offer for sale of up to 3.28 crore equity shares by promoters and a selling shareholder.The company has fixed the price band at Rs 182-192 per equity share.
The IPO for CMR Green Technologies, which is into non-ferrous metal recycling, received a bumper response on the final day of bidding today, i.e. June 5, 2206. The issue was subscribed 85.22 times by 3 p.m. On June 5. As per the National Stock Exchange, the Rs 631 crore issue received bids for 1,96,37,37,360 shares versus the 2,30,43,930 shares offered. NII portion was booked 155.90 times, retail 22.90 times and QIB 142.78 times.
CMR Green Technologies Price Band
The offer is purely an offer for sale of up to 3.28 crore equity shares by promoters and a selling shareholder.The company has fixed the price band at Rs 182-192 per equity share.
CMR Green Technologies IPO GMP Today
Amid the huge response, the GMP of the unlisted shares of CMR Green Technologies has risen to Rs 70. This would mean that on listing, at the upper price band of Rs 192, the shares will trade at Rs 262, an upside of 36.46%.
Gathers Rs 188.44 crore from anchor investors
Before opening for subscription, the company announced that it has gathered Rs 188.44 crore from anchor investors. Among the major anchor investors are SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund and Goldman Sachs. The details were given in a circular published on the BSE website.
Company’s operations
CMR Green Technologies of Faridabad deals with aluminum alloy (ingot and liquid), zinc alloy and furnace-ready stainless steel scrap, copper, brass, lead, and magnesium etc.
With the company having 13 recycling facilities spread across India, it has a procurement network ranging from domestic to Asian, African, Middle Eastern, European, and Americas markets.Its customers are mainly the automotive OEM and Tier-I suppliers.
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