CMR Green Technologies IPO Listing: New Metal Stock Debuts At 43.4% Premium On BSE, 40% On NSE; Buy Or Sell?

CMR Green Technologies is a new entrant in the metal stocks basket on BSE and NSE. On June 10th, this small-cap stock listed over a 43% premium on BSE and nearly 40% higher on NSE compared to its IPO issue price of Rs 192. The IPO had received a blockbuster oversubscription with strong demands from all investor categories. Experts direct long-term investors to hold this stock.

CMR Green Technologies Share Price BSE:

On BSE, CMR Green was listed at 43.4% premium to Rs 275.40 apiece, against the IPO price of Rs 192. At the time of writing, CMR Green traded at Rs 253.80 apiece, which is higher by 32.2% from its issue price, but lower by 7.84% from its listing price. The market cap stood at Rs 5,564.01 crore.

CMR Green Technologies Share Price NSE:

CMR debuted at 39.6% premium on NSE to Rs 268 against IPO price. It touched a 52-week high and low of Rs 268.96 and Rs 250.10 apiece.

Currently, the stock traded at Rs 254.40 apiece, lower by 5.14% from listing price. But the stock is holding an upside of 32.41% from issue price. Its market cap stood at Rs 5,572.77 crore.

On the listing, Mohan Agarwal, Chairman and Managing Director, CMR Green Technologies Limited said, "Equirus Capital has been instrumental in success of our IPO right from the beginning including helping the various stakeholders evaluate options and arrive at decision to do an IPO, quick documentation, timely regulatory approvals, taking lead on pricing and early conversion of large institutional investors."

He added, "Their exemplary client focus and professionalism helped the IPO become one of the year's most eagerly awaited and strongly subscribed IPO, with a subscription of over 127 times".

Should You BUY/SELL/HOLD CMR Green Technologies Share Price?

As per Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, thin operating margins and high customer concentration increase business risk and limit the margin of safety.

The expert added that if allotted shares, investors should closely watch the listing performance. If the stock lists at a strong premium, booking profits either fully or partially can be a prudent strategy to lock in gains, while long-term investors may hold the stock and monitor upcoming quarterly results, margin trends, and business execution.

CMR Green Technologies IPO:

CMR Green IPO opened from June 3rd to June 4th at a price band of Rs 182 to Rs 192 per share. The IPO size was Rs 630.88 crore. On the last day of its IPO, CMR Green was oversubscribed by 127.04 times.

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