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Meanwhile, the stock opened at Rs 268 on NSE, surging 40% from IPO price.
Robust IPO subscription
The IPO was subscribed 127.07 times overall, making it one of the most sought-after public issues of the year. Institutional investors drove the demand, with the qualified institutional buyer (QIB) portion subscribed 270.46 times. The non-institutional investor (NII) segment was booked 172.35 times, while the retail investor category attracted bids worth 27.08 times the shares reserved for it.
More than 33.7 lakh applications were received across categories, highlighting strong participation from both institutional and retail investors.
Ahead of the IPO opening, the company had raised Rs 188.44 crore from anchor investors through the allocation of 98.14 lakh shares.
About the company
CMR Green Technologies, incorporated in 2006, is one of India’s leading non-ferrous metal recyclers and operates in the secondary aluminium market. The company manufactures recycled aluminium alloys, zinc alloy ingots, aluminium billets and other recycled metal products that are used across automotive and industrial applications.
Its customer base includes several leading automobile manufacturers and component makers such as Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, Endurance Technologies, Maruti Suzuki and Jindal Stainless.
The company is positioned to benefit from increasing demand for recycled metals as manufacturers globally focus on reducing carbon emissions and improving sustainability across supply chains. Aluminium recycling consumes significantly less energy than primary aluminium production, making recyclers increasingly important in the transition towards greener manufacturing.
Financially, the company has shown steady growth. For the nine months ended December 2025, CMR Green Technologies reported revenue of Rs 6,291 crore and profit after tax of Rs 162.39 crore. For FY25, it reported revenue of Rs 6,696.66 crore and net profit of Rs 155.04 crore.
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