CMR Green Technologies’ initial public offering (IPO) received a strong response from investors on the very first day of bidding, becoming the first IPO in nearly a month to be fully subscribed on its opening day.
The public issue was subscribed 183% (1.83 times) on Day 1, with non-institutional investors (NIIs) emerging as the biggest contributors to demand. The NII portion was subscribed over 300%, while the retail investor category saw healthy participation with subscriptions crossing 100%. Qualified institutional buyers (QIBs) also showed interest in the offering, reflecting broad demand across investor categories.
CMR Green Technologies, one of India’s leading metal recycling companies, is seeking to raise funds through the IPO to support business expansion, repay debt and meet general corporate requirements. The company is known for recycling non-ferrous metals such as aluminium and producing value-added products for industries including automotive and engineering.
Market sentiment around the issue has remained positive. Ahead of the subscription opening, the company’s shares were reportedly commanding a grey market premium (GMP) of around ₹63 per share, indicating a potential listing gain of nearly 32% over the upper end of the IPO price band. However, grey market trends are unofficial and may change before listing.
CMR Green has built its business around converting metal scrap into reusable industrial materials, helping reduce dependence on primary metal production while supporting environmental goals. The company operates multiple recycling facilities across the country and supplies products to several major manufacturing industries.
The enthusiastic response comes at a time when investor interest in primary market offerings is gradually recovering after a relatively quiet period.
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