Metal recycling company CMR Green Technologies is all set to open its initial public offering (IPO) for bidding on Wednesday, June 3. The offer is entirely an offer for sale, as the company plans to raise capital over Rs 630 crore. The share price band for the offer has been fixed at Rs 182 to Rs 192 per share.
In the unlisted markets, CMR Green’s shares are currently trading at a premium of 18% on the upper end.
Here are three must-know details about this upcoming IPO:
1. CMR Green Technologies IPO: Issue Size and GMP
The issue comprises no fresh equity and is entirely an offer for sale, as the promoter group will offload 3.29 crore equity shares of Rs 2 each, aggregating to a total of Rs 630.88 crore. The company’s IPO is being handled by Equirus Capital, ICICI Securities, and Motilal Oswal Investment Advisors, while KFin Technologies is the registrar to the offer.
The company’s shares are trading at a grey market premium of 18%, or Rs 35, in the unlisted markets. This translates into an estimated listing price of Rs 227 on the upper price band.
However, it is important to note that GMP is an unofficial metric to determine the listing price and varies based on market mood and sentiment.
2. CMR Green Technologies IPO: Subscription Timeline
The IPO will open for public bidding on Wednesday, June 3, while anchor bidding will take place a day prior, on Tuesday, June 2. It will remain open for three days and close on Friday, June 5.
Share allotment is likely to be finalised by Monday, June 8, and beneficiaries will be credited their due shares and receive the requisite refunds the very next day, on Tuesday, June 9. The company is likely to debut on the bourses on Wednesday, June 10.
3. CMR Green Technologies IPO: Lot Size
Retail applicants can bid for a minimum of one lot comprising 78 shares, aggregating to an amount of Rs 14,976, while the maximum they can bid for is 13 lots. For small high-net-worth individuals, the minimum lot size stands at 14, while the maximum they can bid for is 66 lots.
As for big HNIs, the minimum they have to bid for is 66 lots.
Disclaimer: This article details an upcoming IPO and unlisted market trends for informational purposes only, and does not constitute an offer, solicitation, or recommendation to buy, sell, or hold any security. Capital market investments are subject to market risks; readers are advised to review the official Red Herring Prospectus (RHP) and consult a SEBI-registered investment advisor before making any financial decisions. This disclaimer has been generated using AI to support user well-being and responsible content consumption.