CMR Green Technologies Lists at ₹275.40, Up 32.73%

CMR Green Technologies Ltd, incorporated in 2006 as a leading non-ferrous metal recycler specializing in aluminium and zinc die-casting alloys enjoying highest market share in secondary aluminium market manufacturing recycled aluminium alloys in ingot and liquid form, zinc alloy ingots, aluminium billets, and segregated furnace ready scrap of stainless steel, copper, brass, zinc, lead, and magnesium serving major OEMs and Tier-1 automotive component manufacturers including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki, and Jindal Stainless, made a strong debut on BSE and NSE on Wednesday, June 10, 2026. The CMR Green Technologies share price opened at ₹275.40 representing premium of 43.44% from issue price of ₹192.00, dipped to ₹249.95 before trading around ₹254.85 (up 32.73%).

CMR Green Technologies Listing Details

CMR Green Technologies launched its OFS-only IPO at ₹182-192 per share with minimum investment of 78 shares costing ₹14,976 raising ₹630.62 crore including ₹188.44 crore from anchor investors with ₹18 employee discount. The IPO received strong response with subscription of 127.07 times - retail investors at 27.08 times, NII at 172.35 times, QIB strongly subscribed at 270.46 times, employees at 18.53 times, total applications of 33,77,379.

First-Day Trading Performance

Listing Price: CMR Green Technologies stock price opened at ₹275.40 representing premium of 43.44% from issue price, touched low of ₹249.95 (up 30.18%), with VWAP at ₹259.99. The strong listing delivered significant gains for IPO investors with turnover of ₹81.88 crore, traded volume of 31.49 lakh shares, delivery of 77.95%, and market capitalisation of ₹5,583.72 crore against pre-IPO market cap of ₹4,205.87 crore.

Growth Drivers and Challenges

Growth Drivers:

Market Leadership: Leading recycler in domestic aluminium recycling industry with highest market share in secondary aluminium market, largest capacities among industry players, and most preferred partner status enabling premium pricing.

Green and Sustainability Theme: Critical enabler of aluminium industry's decarbonization imperative through recycling operations attracting ESG-focused investors, positioned to benefit from increasing focus on circular economy and sustainable manufacturing.

Strong Customer Base: Long-standing relationships with major automotive OEMs and Tier-1 suppliers including Honda, Bajaj, Hero MotoCorp, Maruti Suzuki, and Jindal Stainless ensuring stable demand for recycled aluminium and zinc alloys.

Challenges:

FY24 Loss: Reported loss of ₹838.56 crore in FY24 following adjustments of exceptional item, though returned to profitability with ₹155.04 crore PAT in FY25.

OFS-Only Issue: Entire ₹630.62 crore proceeds go to selling shareholders with no fresh capital for company expansion, though company has adequate internal accruals for growth.

Thin Margins: PAT margin of 2.59% and EBITDA margin of 5.17% typical of commodity-linked recycling business with limited pricing power.

Utilisation of IPO Proceeds

Being an OFS-only issue, all proceeds of ₹630.62 crore will go to selling shareholders including promoters and existing investors. The company will not receive any funds from this issue for business operations or expansion.

Financial Performance

Revenue: ₹6,291.00 crore for 9 months ended December 2025 (94% of full FY25), ₹6,696.66 crore for FY25, growth from ₹5,968.44 crore in FY24 and ₹5,889.00 crore in FY23.

Net Profit: ₹162.39 crore for 9 months FY26 (already exceeding full FY25), ₹155.04 crore in FY25 returning to profitability after exceptional loss of ₹838.56 crore in FY24, up from ₹104.51 crore in FY23, with post-IPO EPS of ₹9.88 and P/E of 19.42x. Investors tracking CMR Green Technologies share price should note leading market position in aluminium recycling, strong 127x subscription with 33.77 lakh applications.