SEBI Approves CMR Green Technologies IPO

CMR Green Technologies, one of the leading metal recyclers have received markets regulator Sebi’s go-ahead to raise funds through initial share sales which filed draft papers in September 2021. Its fresh issuance of equity shares worth Rs 300 crore and an OFS of 33,414,138 equity shares by promoters and investors. CMR Green Technologies’ IPO comprises fresh issuance of equity shares worth Rs 300 crore and an OFS of 33,414,138 equity shares by promoters and investors.   Proceeds from the fresh issue will be utilized towards the payment of debt and general corporate purposes.  Promoters include Gauri Shankar Agarwala will sell 34.33 lakh equity shares, Kalawati Agarwal will offload up to 33.45 lakh equity shares and Mohan Agarwal and Pratibha Agarwal will divest up to 30.09 lakh equity shares each, and investor Global Scrap Processors will sell up to 1.99 crore equity shares.