CMR Green Technologies lists with 43% premium; shares dip after profit booking

Goldman Sachs buys CMR Green Technologies shares on listing day after strong debut

Shares of CMR Green Technologies attracted institutional interest on their market debut, with a Goldman Sachs-managed fund picking up shares worth nearly Rs 50 crore through a bulk deal on Wednesday. According to NSE bulk deal data, Goldman Sachs India Equity Portfolio purchased 19.41 lakh shares of CMR Green Technologies at an average price of Rs 256.64 per share. The transaction was valued at about Rs 49.82 crore.The purchase came on the same day the stock made a strong stock market debut, listing at a premium of around 43% over its issue price of Rs 192.CMR Green Technologies had launched a Rs 630.88 crore initial public offering, which was entirely an offer-for-sale (OFS) by existing shareholders. The issue received an overwhelming response from investors, getting subscribed 127.07 times overall.Institutional investors led the demand, with the qualified institutional buyer (QIB) portion subscribed 270.46 times, while the non-institutional investor (NII) category was booked 172.35 times. The retail portion attracted bids worth 27.08 times the shares on offer.The strong subscription and listing performance reflect investor optimism around the company's position in India's growing recycled metals and aluminium recycling industry.Brokerages had highlighted the company's market leadership and growth prospects ahead of the IPO. Arihant Capital noted that CMR Green's aluminium recycling capacity is more than four times that of its nearest domestic competitor and pointed to its estimated 42-45% market share in the automotive cast alloy segment.SBI Securities had also maintained a "Subscribe" rating, citing the company's installed capacity of 4.7 lakh tonnes per annum and opportunities arising from increasing demand for recycled metals and expansion into wrought aluminium products.Deven Choksey Research said the company is well placed to benefit from long-term themes such as electric vehicle adoption, rising aluminium usage in automobiles, decarbonisation initiatives and India's push towards a circular economy.However, analysts have advised caution after the sharp listing gains.Shivani Nyati, Head of Wealth at Swastika Investmart, said investors should remember that the IPO was entirely an OFS and did not bring fresh capital into the company. She said investors who received allotment could consider booking partial profits while retaining some exposure for the medium term, given the company's industry positioning. New investors, meanwhile, should wait for a correction or consolidation rather than chase the stock at elevated levels, she added.Founded in 2006, CMR Green Technologies is among India's largest non-ferrous metal recyclers. The company manufactures recycled aluminium alloys, zinc alloy ingots, aluminium billets and other recycled metal products used across automotive and industrial applications.For FY25, the company reported revenue of Rs 6,697 crore and net profit of Rs 155 crore. In the first nine months of FY26 ended December 2025, it posted revenue of Rs 6,291 crore and profit after tax of Rs 162.4 crore, indicating continued operational momentum.

16 hours ago

CMR Green Tech shares fall 8% after solid 43% stock market debut. Buy, sell or hold?

Shares of CMR Green Technologies fell nearly 8% from their post-listing highs on Thursday as investors booked profits after a strong market debut. The stock slipped to an intraday low of Rs 250 on the BSE, after listing at a 43% premium to its issue price of Rs 192.The Rs 630.62-crore 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 itRead More: https://economictimes.indiatimes.com/markets/stocks/news/wipros-rs-15000-crore-buyback-opens-tomorrow-10-key-things-to-know-before-tendering-shares/wipro-buyback/slideshow/131625831.cmsShould you buy, sell or hold CMR Green shares?Shiavni Nyati, Head of Wealth at Swastika Investmart, said that while the impressive listing highlights positive market sentiment, investors should remember that the IPO was an Offer for Sale (OFS) only, meaning the company did not receive any fresh capital and existing shareholders reduced their stakes through the issue. Following such a sharp listing gain, some profit booking and short-term volatility are likely. Investors who received allotment may consider booking partial profits while continuing to hold the remaining shares for the medium to long term, given the company's exposure to the growing recycled metals industry. New investors should avoid chasing the stock at elevated levels and wait for a correction or consolidation before considering fresh entries. Overall, caution is warranted after the strong debut. Investors may maintain a stop loss at a cost of Rs 192 to protect gains, as a sustained move below this level could indicate weakening momentum, she added. Arihant Capital said the company's leadership in aluminium recycling, and its installed capacity of more than four times that of its nearest domestic competitor, augurs well. The brokerage also pointed to the company's dominant position in the automotive cast alloy segment, where it commands an estimated market share of 42-45%, and recommended subscribing to the IPO.SBI Securities said CMR enjoys significant scale advantages with an installed capacity of 4.7 lakh tonnes per annum and sees growth opportunities from expansion into wrought aluminium products and increasing demand for recycled metals. It also maintained a "Subscribe" rating.Deven Choksey Research noted that the company is well-positioned to benefit from long-term themes such as electric vehicle adoption, rising aluminium intensity in automobiles, decarbonisation and India's circular economy push. The brokerage recommended subscribing to the issue.Financially, CMR reported revenue of Rs 6,697 crore and net profit of Rs 155 crore in FY25. For the nine months ended December 2025, it posted revenue of Rs 6,291 crore and profit after tax of Rs 162.4 crore, indicating continued operational momentum.Also read: A $6 billion share sale wave in India signals deals perking upCMR 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.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

1 day ago

CMR Green shares make strong D-Street debut, list at 43% premium over IPO price

In a solid stock market debut, shares of CMR Green Technologies listed at 43% premium over IPO price on Wednesday. The stock opened at Rs 275.40 on the BSE as compared to its issue price of Rs 192. Meanwhile, the stock opened at Rs 268 on NSE, surging 40% from IPO price.Robust IPO subscriptionThe 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 companyCMR 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.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

1 day ago