CMR Green Technologies Secures ₹188 Crore from Anchor Investors Prior to IPO Launch

CMR Green Technologies Raises ₹188.4 Crore from Anchor Investors Ahead of IPO

CMR Green Technologies Limited, a leading non-ferrous metal recycler in India, has successfully raised ₹188.4 crore from anchor investors ahead of its initial public offering (IPO), which is set to open for public subscription on Wednesday, June 3, 2026.

The company allocated 98.14 lakh equity shares to 18 anchor investors at ₹192 per share. The marquee institutions that participated in the anchor book included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, and Goldman Sachs. Other anchor investors included 360 ONE Equity Opportunity Fund, Abakkus Growth Fund, BNP Paribas, Citigroup Global Markets Mauritius, and Susquehanna Pacific. Additionally, life insurance companies such as Bajaj Allianz Life Insurance and Kotak Mahindra Life Insurance Company also participated in the anchor round.

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

The total allocation of 98.14 lakh equity shares to anchor investors demonstrates the confidence that marquee investors have in CMR Green Technologies' growth prospects.

The initial public offering, valued at ₹630.88 crore at the upper end of the price band, will open for subscription on June 3 and close on June 5. The issue is entirely an offer for sale (OFS), with no fresh issue component. The proposed IPO comprises an offer for sale of up to 3.28 crore equity shares by promoters and an investor selling shareholder. All proceeds from the issue will go directly to the selling shareholders. Mohan Agarwal, Gauri Shankar Agarwal HUF, and Mohan Agarwal HUF are the promoter and promoter group selling shareholders, while Global Scrap Processors is the investor selling shareholder.

CMR Green Technologies is among the leading non-ferrous metal recyclers in India. According to its red herring prospectus (RHP), citing an ICRA report, it held the highest market share in the Indian secondary aluminium market in terms of revenue from operations in FY25 among its peer companies. The company also enjoys a significant capacity advantage over domestic peers, with an installed capacity nearly four times that of its closest competitor in the domestic recycled aluminium segment.

CMR Green Technologies manufactures recycled aluminium alloys in ingot and liquid form; zinc alloy ingots; dross; and segregated furnace-ready scrap of stainless steel, copper, brass, zinc, lead, and magnesium, among other products.

Read also: Zepto Nears $1 Billion Quarterly Net Order Value Milestone Before IPO