Underdog Aluminium Recycling IPO Poised for Stellar Listings as Robust GMP Gains Traction.

CMR Green Technologies is poised to make a significant impact in the Indian IPO market as it prepares for its debut on the NSE and BSE on June 10. The IPO has seen robust demand, being subscribed 127.07 times overall, with qualified institutional buyers demonstrating a substantial interest by subscribing 270.46 times. The grey market premium (GMP) currently stands at around 36%, suggesting a promising opening price expected to be near Rs 261 per share, above its issue price of Rs 192. This marks one of the most anticipated listings amid an otherwise subdued primary market this year.

Analysts have praised CMR Green Technologies for its strong position as India’s largest non-ferrous metal recycler, which supports investor confidence. The company operates with an installed capacity significantly greater than its competitors, providing it with a competitive edge in the aluminium recycling sector. Brokerages like Arihant Capital and SBI Securities have endorsed the IPO, citing advantages such as growth opportunities in the wrought aluminium sector and rising demand for recycled metals, aligning with broader trends in decarbonization and electric vehicle adoption.

The financial standing of CMR Green Technologies further strengthens its appeal, having reported revenues of Rs 6,697 crore and a net profit of Rs 155 crore in FY25. Institutions backing the company and the current high GMP indicate positive short-term sentiments, suggesting that investors could see notable listing gains. However, as with all IPOs, the ultimate performance on listing day will hinge on prevailing market conditions and investor sentiment at that time, making it essential for potential investors to stay vigilant and informed.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)