DSK Legal advised the Book Running Lead Managers on the CMR Green Technologies IPO, a mainboard offering that listed on both BSE and NSE on June 10, 2026. The transaction, structured entirely as an offer for sale, drew strong investor interest and represents a significant capital markets mandate for the firm.
Introduction
CMR Green Technologies Limited made an initial public offering comprising an offer for sale of 32,858,323 equity shares by the Promoter Selling Shareholder. The selling shareholders comprised Mohan Agarwal (Promoter Selling Shareholder), Gauri Shankar HUF and Mohan Agarwal HUF (Promoter Group Selling Shareholders), and Global Scrap Processors Limited (Investor Selling Shareholder).
The issue is a book-building offer comprising entirely of an offer for sale (OFS) of up to 3,28,58,323 equity shares. Since this is a 100% OFS, the company will not receive any proceeds from the IPO — the entire amount goes to the selling shareholders.
CMR Green Technologies Limited, incorporated in 2006 and headquartered in Faridabad, is one of India’s leading non-ferrous metal recycling companies. According to the ICRA Report, the company is the largest non-ferrous metal recycler in India by installed capacity.
The Red Herring Prospectus was filed on May 27, 2026 with the Registrar of Companies, and the final Prospectus was filed on June 6, 2026 with SEBI. The allotment was finalised on June 8, 2026, and the shares were listed on NSE and BSE on June 10, 2026.
Deal Value
The IPO aggregated to ₹6,306.21 million (approximately ₹630.62 crore). The final issue price was set at ₹192 per share. The IPO received a subscription of approximately 127 times during the three-day subscription window. Shares of CMR Green Technologies made a strong debut on June 10, 2026, listing at a premium of 43.44 per cent over the issue price of ₹192.
Legal Teams Involved
DSK Legal advised Equirus Capital Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited, the Book Running Lead Managers on this IPO.
DSK Legal‘s scope of work included conducting due diligence; reviewing the Draft Red Herring Prospectus, Red Herring Prospectus, and the final Prospectus for filing with SEBI, Stock Exchanges, and assistance in finalisation and filing with the Registrar of Companies; drafting responses to queries received from SEBI, Stock Exchanges, and Depositories; drafting consent letters and certificates from all intermediaries; and drafting, reviewing, and negotiating all agreements relating to the offer, including the Offer Agreement, Syndicate Agreement, Share Escrow Agreement, Cash Escrow and Sponsor Bank Agreement, Underwriting Agreement, and agreements with the Advertising Agency and Registrar.
The DSK Legal team comprised:
- Ajay Shaw — Partner (Lead Engagement Partner)
- Gaurav Mistry — Partner (Relationship Partner)
- Avinash Poojari — Partner (Relationship Partner)
- Akanksha Dubey — Associate Partner
- Forum Vadgama — Associate
- Mahadevan J — Associate
- Harshita Dhelia — Associate
- Kaishena Chauhan — Associate
- Siddharth Bharadwaj — Associate
Significance and Impact
The CMR Green Technologies IPO is notable for several reasons. The company holds an estimated 42–45% market share in the cast alloy automotive segment as of FY25, making this offering a high-profile listing in India’s growing circular economy and metal recycling sector.
The ₹631-crore issue was subscribed 127 times during its June 3–5 offering, beating grey market expectations of a 35% premium. The company’s market capitalisation stood at ₹6,032.79 crore on BSE at the time of listing.
The mandate highlights DSK Legal‘s continued capital markets practice activity, with a nine-member team handling the full spectrum of BRLM-side advisory work — from due diligence and prospectus review through to regulatory correspondence and transaction documentation. For further context on law firm deal activity, see the Deal Meter.
Conclusion
DSK Legal‘s advisory role on the CMR Green Technologies IPO underscores the firm’s active presence in mainboard IPO transactions. The ₹630.62-crore OFS, led by Equirus Capital Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited as BRLMs, achieved a successful listing on June 10, 2026, with strong market reception. Further details on ancillary transaction terms were not disclosed.
Sources: Bar & Bench — Deal Street | India TV News — CMR Green IPO Listing | Business Today — CMR Green Listing | Chittorgarh — CMR Green IPO Details
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
