CMR Green Technologies IPO Day 2: Strong 31% GMP Upside Sparks High Subscription—Is It a Buy?
The Rs 631 crore IPO of CMR Green Technologies has garnered significant attention in the Indian primary market, entering its second day of subscription with positive momentum. On June 4, 2026, the issue was oversubscribed 2.46 times, indicating robust demand, particularly in the non-institutional investor segment, which saw a subscription rate of 5.67 times. The price band has been set between Rs 182 and Rs 192 per share, with a bidding open until June 5. As the IPO unfolds, CMR Green Technologies, a leader in the aluminium recycling sector, not only highlights the growing interest in sustainability-focused investments but also showcases the resilience of IPOs in the Indian market.
The grey market sentiment for CMR Green Technologies is notably bullish, with a grey market premium (GMP) reported at around 31%. This suggests an anticipated listing price of approximately Rs 252 based on the upper end of the price band. The activity in the grey market indicates healthy investor sentiment and expectations of positive returns post-listing. However, while the GMP serves as a useful indicator, investors should approach these figures cautiously, as they do not guarantee actual performance on the exchanges following listing.
For Indian investors, the CMR Green Technologies IPO presents both an opportunity and a cautionary tale. The company’s pivot towards sustainable manufacturing, with its established market position and recent financial recovery, could provide long-term growth prospects. Broader demand for recycled material solutions aligns well with global decarbonization trends, making it an attractive case for investors. However, analysts have raised concerns regarding the pure offer-for-sale structure and client concentration risks. This IPO offers a chance for potential listing gains but should be evaluated against individual risk tolerance and the long-term viability of CMR’s business model.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova IPO team.)