CMR Green Technologies has raised Rs 188 crore from anchor investors ahead of the opening of its IPO, with participation from a mix of domestic mutual funds, insurance companies and global institutional investors.
The company allotted 98.14 lakh shares to anchor investors at Rs 192 per share, the upper end of the IPO price band, according to an exchange filing on Monday.
The anchor book attracted several marquee investors, including funds managed by SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, Kotak Mutual Fund, Goldman Sachs, BNP Paribas, 360 One Asset, Abakkus Asset Manager and Edelweiss Mutual Fund.
Among insurance investors, Bajaj Allianz Life Insurance and Kotak Mahindra Life Insurance were allotted shares in the anchor round.
Domestic mutual funds emerged as the largest investor category, accounting for 62.47% of the anchor allocation, with investments worth about Rs 117.7 crore spread across 10 schemes. Life insurance companies received shares worth nearly Rs 13 crore, representing 6.9% of the anchor portion.
The IPO of CMR Green Technologies will open for public subscription on June 3 and close on June 5. The company has fixed a price band of Rs 182-192 per share for the issue. Equirus Capital, ICICI Securities and Motilal Oswal Investment Advisors are the book-running lead managers.
CMR Green Technologies operates in the metal recycling sector and manufactures recycled aluminium and zinc products used across automotive, engineering and industrial applications. The company is among India's largest producers of recycled aluminium products and has positioned itself to benefit from growing demand for sustainable manufacturing and circular economy solutions.
The IPO comes at a time when investors are increasingly focusing on companies linked to energy transition, sustainability and resource efficiency themes. The issue is also one of the first mainboard IPOs to hit the market after a relatively quiet period for public offerings amid market volatility, elevated crude oil prices and geopolitical uncertainties.
Despite these concerns, institutional appetite for the anchor book suggests investors remain willing to back companies with strong positioning in sectors expected to benefit from long-term manufacturing and sustainability trends.v
