InvestorQ : Can you tell me about the proposed IPO of CMR Green Technologies?
Mitali Bhutta made post

Can you tell me about the proposed IPO of CMR Green Technologies?

Answer
image
3 months ago
Follow

CMR Green Technologies, a company specializing in recycling of aluminium, has filed DRHP with SEBI for the proposed IPO. The IPO will comprise of a fresh issue of shares worth Rs.300 crore combined with an offer for sale of 334.14 equity shares. The existing promoters of the company and some early investors will be offering the shares as part of the OFS. The dates of the IPO and other details will be finalized subject to SEBI approving the DRHP.

CMR Green is a leading metal recycler and one of the largest in the domestic aluminium recycling space. The company may also consider a pre-IPO placement of up to Rs.60 crore to get a colour of market sentiments and the IPO size will be reduced proportionately. CMR Technologies plans to use the proceeds of the fresh issue component for debt repayment and deleveraging. CMR currently has 12 manufacturing facilities across India.

2 Views