CMR Green Technologies Launches Second IPO Bid

CMR Green Technologies Ltd, a recycler specializing in non-ferrous metals, seeks to raise funds via an IPO entirely through an Offer for Sale of 4.28 crore equity shares. The company wants to enhance its visibility and provide liquidity to existing shareholders with support from Equirus Capital, ICICI Securities, and Motilal Oswal.

CMR Green Technologies Ltd, a prominent non-ferrous metal recycler, has initiated its second effort to tap into the capital market by filing preliminary papers for an Initial Public Offering (IPO) with market regulator Sebi. The process involves an Offer for Sale (OFS) of 4.28 crore equity shares.

Significantly, the IPO, which sees promoter Mohan Agarwal and investor Global Scrap Processors Ltd among the selling shareholders, will not inject capital into the company itself, as all proceeds will be directed to those selling their shares.

CMR Green plans to use the listing to amplify its market presence and offer greater liquidity to current shareholders. The company, which operates 13 recycling plants nationwide, largely serves original equipment manufacturers (OEMs) and Tier-1 suppliers in the automotive industry.