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Metal recycling company CMR Green Technologies has filed preliminary papers with SEBI to raise funds through an initial share sale.
The initial public offering (IPO) comprises fresh issuance of equity shares worth ₹300 crore and an offer for sale of 3.34 crore shares by promoters and investors, according to the draft red herring prospectus (DRHP).
The company may consider a pre-IPO for up to ₹60 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue will be utilised towards the payment of debt and general corporate purposes.
CMR Green Technologies is one of the leading metal recyclers in the domestic aluminium recycling industry.
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