Overview
- CMR Green filed a Red Herring Prospectus for an entirely offer‑for‑sale IPO of about 3.28 crore shares, with anchor bids on June 2 and public subscription scheduled for June 3–5 and a provisional listing date reported as June 10.
- The company fixed a price band of Rs 182–192 per share and a minimum application lot of 78 shares while projecting roughly Rs 631 crore worth of shares on offer even though the company itself will receive no cash from the sale.
- Promoters Mohan Agarwal, Gauri Shankar Agarwala HUF and Mohan Agarwal HUF will sell about 64.59 lakh shares and Mauritius‑based Global Scrap Processors will sell roughly 2.64 crore shares, with promoters currently holding about 87% and Global Scrap about 13%.
- Allocation follows standard practice with up to 50% for qualified institutional buyers, at least 35% for retail investors and at least 15% for non‑institutional investors, and outlets report a discrepancy in the employee reservation amount of Rs 2.5 crore versus Rs 25 crore.
- CMR Green is a Faridabad‑based non‑ferrous metal recycler that supplies major OEMs and Tier‑1 auto suppliers; this is its second listing attempt after a 2021 filing and a SEBI clearance in 2022 that the company later did not pursue, and the current sale is primarily a promoter liquidity event rather than growth funding.