CMR Green Technologies' initial public offering (IPO) received strong demand on its first day of bidding, June 3, oversubscribed 2.45 times. The grey market premium (GMP) stood at ₹67 per share, indicating the stock is likely to list at a 35% premium above the upper price band, with an estimated listing price of ₹259 per share, according to livemint.com.
The IPO set a lot size of 78 shares, requiring a minimum investment of ₹14,976 for retail investors. Both retail and non-institutional investors showed solid interest in the offering, which reflects confidence in the company's prospects. The strong subscription on day one suggests robust market appetite for CMR Green Technologies’ shares.
This response places CMR Green Technologies among recent Indian IPOs that have attracted significant investor attention amid a busy market for public listings. The GMP and oversubscription levels signal positive sentiment, potentially positioning the company for a successful market debut. Such demand also underscores investor interest in green technology firms within India's evolving industrial landscape.
The IPO subscription will continue through its scheduled closing date, with final allotment and listing details expected shortly after. Investors will watch the official listing price and share performance closely following the close of the offer.