CMR Green Technologies, a non-ferrous metal recycling firm, will go public by issuing an Offer for Sale (OFS) to raise about ₹630 crore. After the issue, promoter shareholding will be reduced from 87% to 84%.
The market analysts believe that the company is poised to gain from the growing demand for recycled metals, with aluminium being a significant segment, as automakers and industrial companies increasingly turn to it for cost-effective and sustainable materials.
CMR Green Technologies was established in 2005 to produce aluminium alloy ingots, liquid aluminium, zinc alloys, copper, and other recycled metals like stainless-steel. As of March 2026, the company has 13 recycling centers in India, with a total capacity of around 6.2 lakh tonnes per year.
One of its key strength is its leadership in the recycled aluminium business. Demand for aluminium-based products saw a rise to nearly 82% of the total revenues in 9M2025 from 78% in FY25, indicating robust demand for the metal across various sectors.
The company is also viewed as a major provider of cast alloy castings to the automotive industry, which is anticipated to see moderate growth, with automakers placing more emphasis on using light-weight materials for better fuel economy and emission reduction.
But there are some risks which investors should be aware of. The company is highly dependent on aluminium products making it vulnerable to raw materials risk and fluctuation in the prices of aluminium products. Over 80% of the revenue is tied to one metal category, which means a drop in demand or prices for aluminium could affect the financials.
The rise in recycling and sustainability offers good growth prospects, but the IPO could be more appealing to riskier investors who are willing to share in the commodity price fluctuations and industry-specific difficulties.
CMR Green Technologies provides exposure to the growing metal recycling industry in India and presents an opportunity to participate in the growing demand for recycled aluminium. But, the concentration risk and commodity-related uncertainties indicate that investors need to consider the long-term prospects of the company before investing in the IPO.