[SMM Aluminum Flash News] India’s Leading Recycler CMR Green Technologies IPO Subscribed Over 127 Times

Published: Jun 12, 2026 13:42

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CMR Green Technologies, India’s largest non-ferrous metal recycler, is expected to make a strong stock market debut after its IPO was subscribed more than 127 times. The INR 6.31 billion (USD 66.3 million) offering attracted strong interest from institutional, non-institutional and retail investors, while grey market premiums indicate a potential listing gain of around 36%. CMR is a leading supplier of secondary aluminum products with an estimated 42-45% share of India’s automotive cast alloy market, serving customers including Maruti Suzuki, Honda Cars India, Bajaj Auto and Hero MotoCorp. The company operates 13 recycling facilities across India and produces recycled aluminum alloys, billets and other non-ferrous metal products. Growing demand from electric vehicles, recycling initiatives and decarbonization efforts is expected to support the company’s long-term growth outlook.

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