CMR Green Technologies
Book Building issueMainboard₹631 Cr issue
+43.44%
Listing gain over issue price
Price band
₹182 – ₹192
Issue size
₹631 Cr
1 lot at cut-off
₹14,976
Lot size
78shares
Open
03 Jun 2026
Close
05 Jun 2026
Allotment
08 Jun 2026
Listing
10 Jun 2026
Listing performance
Issue price
₹192
Listed at
₹275.40
Listing-day close
₹247.90
Latest price
₹238.35
Listing gain
+43.44%
Return since listing
+24.14%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
₹66.50
04 Jun 2026 Range ₹0 – ₹71 over 7 days 10 Jun 2026
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 10 Jun 2026 | ₹66.50 | +34.64% | ₹3,900 | ₹258.50 | ₹5,187 |
| 09 Jun 2026 | ₹67 | +34.90% | ₹4,000 | ₹259 | ₹5,226 |
| 08 Jun 2026 | ₹69 | +35.94% | ₹4,100 | ₹261 | ₹5,382 |
| 07 Jun 2026 | ₹67.50 | +35.16% | ₹4,000 | ₹259.50 | ₹5,265 |
| 06 Jun 2026 | ₹66 | +34.38% | ₹3,900 | ₹258 | ₹5,148 |
| 05 Jun 2026 | ₹71 | +36.98% | ₹4,200 | ₹263 | ₹5,538 |
| 04 Jun 2026 | ₹70 | +36.46% | ₹4,100 | ₹262 | ₹5,460 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 03 Jun 2026 – 05 Jun 2026
- Listing date
- 10 Jun 2026
- Face value
- ₹2 per share
- Price band
- ₹182 – ₹192
- Issue price
- ₹192 per share
- Lot size
- 78 shares
- Issue type
- Book Building issue
- Total issue size
- ₹631 Cr
- Market cap at offer price
- ₹4,206 Cr
- Promoter holding
- 86.95% → 84.00% pre-issue → post-issue
- ISIN
- INE00WV01027
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Equirus Capital Ltd.
- Registered office
- 7th Floor, Tower 2, L & T Business Park, 12/4, Matrura Road, Haryana
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 98,14,393 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 78 shares per lot, in multiples, at ₹192
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 78 | ₹14,976 |
| Retail (max) | 13 | 1,014 | ₹1,94,688 |
| S-HNI (min) | 14 | 1,092 | ₹2,09,664 |
| S-HNI (max) | 66 | 5,148 | ₹9,88,416 |
| B-HNI (min) | 67 | 5,226 | ₹10,03,392 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
98,14,393
Anchor portion
₹188 Cr
at ₹192 per share
Valuation and performance
Valuation at offer price
₹192 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.08 | 9.88 |
| P/E (×) | 27.12 | 19.43 |
| Price to book (×) | 9.17 | — |
| Market cap | — | ₹4,206 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 31.08%
- ROCE
- 11.04%
- Debt / equity
- 0.59
- PAT margin
- 2.32%
- EBITDA margin
- 4.56%
- NAV per share
- ₹20.93
- Price to book
- 9.17
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About CMR Green Technologies
CMR Green Technologies Limited (formerly Grand Metal Industries Limited) was incorporated in 2005 and converted to a public limited company in 2020. The company operates as a metal recycler with a consolidated business model focused on aluminium alloys and various scrap metal categories. It generates revenue from the sale of recycled aluminium and zinc alloys, segregation and recycling of other metals. The company has undergone multiple name changes and scheme of arrangements involving amalgamations. It operates 13 recycling facilities across India and serves customers ranging from tier 1 auto component suppliers to original equipment manufacturers through long-standing relationships (16-19+ years). The company is now conducting an initial public offering to raise capital.
Company Analysis
from RHPCMR Green Technologies Limited manufactures and sells aluminium alloy ingots, liquid aluminium alloys, and scrap metals (stainless steel, copper, brass, zinc, magnesium) through metal recycling operations across multiple facilities in India.
CMR Green Technologies Limited (formerly Grand Metal Industries Limited) was incorporated in 2005 and converted to a public limited company in 2020. The company operates as a metal recycler with a consolidated business model focused on aluminium alloys and various scrap metal categories. It generates revenue from the sale of recycled aluminium and zinc alloys, segregation and recycling of other metals. The company has undergone multiple name changes and scheme of arrangements involving amalgamations. It operates 13 recycling facilities across India and serves customers ranging from tier 1 auto component suppliers to original equipment manufacturers through long-standing relationships (16-19+ years). The company is now conducting an initial public offering to raise capital.
Metal recyclingAluminium alloys manufacturingScrap metal processingNon-ferrous metal recycling
Objects of the Issue
- This being the first public issue of the Company, the Offer is Offer for Sale (OFS) only; no fresh capital is being raised by the company itself p.1
- Offer for Sale by Selling Shareholders and achievement of benefits of listing p.161
- Building 2 new plants in Joint Ventures with Japanese companies: (a) JV with Nikkei MC Aluminium with initial capacity 24,000 MTPA at Bawal, Haryana ("Bawal Plant"); and (b) JV with Toyota Tsusho with initial capacity 48,000 MTPA at Chennai, Tamil Nadu ("Chennai Plant") p.660
Issue Structure
- Total Issue
- Up to 32,858,323 Equity Shares of face value of ₹2 each, aggregating up to ₹ [●] million
- Fresh Issue
- Not applicable
- Offer for Sale
- Up to 32,858,323 Equity Shares of face value of ₹2 each, aggregating up to ₹ [●] million (comprising up to 4,959,428 shares by Mohan Agarwal, up to 1,000,000 shares by Gauri Shankar Agarwala HUF, up to 500,000 shares by Mohan Agarwal HUF, and up to 26,398,895 shares by Global Scrap Processors Limited)
- Price Band
- ₹ [●] per Equity Share (Floor Price) to ₹ [●] per Equity Share (Cap Price), subject to revision
- Lot Size
- [●] Equity Shares of face value of ₹2 each and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹2 each
Business Model
The company generates revenue from manufacturing and selling aluminium alloy ingots and liquid aluminium alloys, and scrap metal products (stainless steel, copper, brass, zinc, magnesium). It procures raw materials domestically and through imports (74.82% of raw material and traded goods in nine months ended December 31, 2025), processes them through recycling facilities, and sells finished products to customers primarily on a spot price basis with monthly pricing adjustments. Revenue from operations for nine months ended December 31, 2025 was ₹62,254.61 million.
Business Segments
Manufacturing and sale of liquid aluminium alloys
Manufacturing and sale of aluminium alloy ingots
Segregation and recycling of other metals such as stainless steel, copper, and others
Manufacture and supply of aluminium alloy ingots and liquid aluminium alloys to automotive OEMs and Tier 1 companies
Collection, processing and supply of stainless steel scrap and other scrap metals including copper, brass, zinc and magnesium
Manufacturing, marketing and selling of aluminium ingots, liquid and molten metal through joint venture operations
Collection, segregation, and recycling of aluminium and other non-ferrous metal scrap
Recycling and production of aluminium and zinc alloys for sale to automotive and industrial customers
Segregation and recycling of metals such as stainless steel, copper, and others
Manufacture of recycled aluminium alloys in ingot and liquid form for automotive and non-automotive applications
Supply of recycled aluminium and other metal products to OEMs and Tier 1 automotive suppliers
Segregation and recycling of furnace-ready scrap including stainless steel, copper, brass, zinc, lead and magnesium
Supply of recycled metals to manufacturers in construction, packaging, electronics and other industrial sectors
Manufacturing primary aluminium alloys in solid ingot and liquid forms for automotive applications. Cast alloy consumption is 1.01 million MT with 46.7% market share of India's recycled aluminium market
Manufacturing zinc alloy ingots (Z3 and Z5) prepared by adding metals such as aluminium and zinc for industrial applications
Manufacturing aluminium billets from recycled scrap through dedicated 40 KT per annum plant in Tirupati for extrusion applications in building and construction, automotive sectors. Extrusions represent 15.6% of India's recycled aluminium market consumption
Planned expansion into rolled aluminium for packaging, pharmaceutical foils, construction panels. Rolled aluminium represents 27.5% of India's total secondary aluminium consumption in FY2025
Dedicated 48 KT per annum plant in Odisha for job work operations recycling used beverage cans for Hindalco Industries Limited with guaranteed cost-plus pricing through long-term contract
Recycling stainless steel scrap (Zurik) and other non-ferrous metals including copper, lead, magnesium, brass, zinc through sorting facilities and furnace operations
Manufacture and sale of aluminium ingots, zinc ingots, and related non-ferrous metal products; trading in such goods; job work services; sale of scrap and residual materials
The Group manufactures and sells aluminium and zinc based alloys and does trading and job work of these products. The products have the same risks and returns which are predominantly governed by market condition i.e. demand and supply position.
Single reportable segment; manufacture and sale of aluminium and zinc alloys, trading of scrap goods, job work services
SWOT Analysis
Strengths
- • Leading recycler with significant capacity advantage and market share in Indian secondary aluminium(p.165)
- • Key supplier of liquid aluminium with geographically diversified distribution(p.165)
- • Strong and diversified global supplier base of 198 suppliers across 73 countries reducing raw material supply risk(p.165)
- • Long-standing customer relationships with Tier 1 companies and OEMs, demonstrating customer retention(p.165)
- • Strategic joint ventures with leading global aluminium and technology companies(p.166)
- • 13 strategically located manufacturing facilities with advanced quality control and technology(p.166)
- • Experienced management team with strong ESG focus and high ESG rating(p.166)
- • Leading market position in India's secondary aluminium recycling(p.297)
- • High S&P Global CSA score demonstrating environmental credentials(p.294)
- • Substantial quantified environmental impact from recycling operations(p.295)
- • Expanded production capacity across 13 strategically located facilities(p.303)
- • Proprietary technology and patented systems for operational advantage(p.309)
- • Strong established customer relationships with leading OEMs and Tier 1 suppliers(p.312)
- • Diversified product portfolio with entry into higher-margin wrought aluminium(p.297)
- • Diversified product portfolio and market presence(p.412)
- • Multiple manufacturing facilities across geographies(p.443)
- • Established relationships with major financial institutions(p.441)
- • Operational flexibility with multiple working capital facilities(p.441)
- • Established long-term customer relationships with OEMs and Tier 1 companies(p.490)
- • Diverse customer base reduces dependency on single customer(p.492)
- • Recognized R&D capabilities with DSIR approval(p.483)
- • Strong joint venture partnerships with global entities(p.472)
- • Investor director representation and governance rights(p.658)
- • Pre-emptive rights on future equity issuances(p.660)
- • Liquidation preference protection(p.660)
- • Put option exit right if IPO not completed(p.665)
- • Drag-along and tag-along rights on share transfers(p.658)
Weaknesses
- • High customer concentration risk with top 5 customers contributing 32.53% of revenue(p.31)
- • Heavy product concentration with aluminium alloys accounting for 81.85% of revenue(p.33)
- • Significant loss in Fiscal 2024 of ₹8,382.25 million due to goodwill impairment(p.34)
- • Negative operating cash flows with deteriorating trend over periods(p.35)
- • Outstanding Enforcement Directorate proceeding against company for alleged FEMA violations involving ₹152.02 million(p.37)
- • Total borrowings of ₹13,032.17 million representing 35.70% of total assets as of December 31, 2025(p.47)
- • Multiple material litigations pending including tax, regulatory and criminal proceedings(p.49)
- • High import dependency with 74.82% of raw material purchases being imported(p.50)
- • Unable to obtain information and confirmations from group companies CCIIPL, CMRC and KAPL(p.46)
- • Sharp net worth erosion from ₹11,951.89 million to ₹3,175.35 million(p.52)
- • Lack of product diversification and customer concentration risk(p.53)
- • Pending litigation with financial creditor Ugro Capital and CIRP threat(p.56)
- • Outstanding Central Excise proceedings with criminal complaint(p.57)
- • Single-customer dependency at Odisha Unit(p.58)
- • High employee attrition and labour cost pressures(p.58)
- • Multiple contingent liabilities totalling ₹1,129.22 million(p.67)
- • Delays in payment of statutory dues(p.79)
- • Unable to trace historical corporate records and share transfer deeds(p.79)
- • Trademark application rejected and pending for registration(p.80)
- • Dependence on identified customer through joint venture arrangement(p.95)
- • Reliance on joint venture for aluminium ingot manufacturing(p.95)
- • No dividend payments in last 3+ fiscal years(p.96)
- • Offer proceeds go entirely to selling shareholders, not the company(p.96)
- • High customer concentration with ~42-45% market share in cast alloy segment automotive industry(p.166)
- • Negative EPS in Fiscal 2024 due to goodwill impairment(p.170)
- • Rising net debt to equity ratio showing increasing leverage(p.170)
- • Declining net fixed assets turnover ratio indicating lower asset efficiency(p.170)
- • Significant customer concentration risk with top 3 customers representing 20.93% of revenue(p.312)
- • High supplier concentration with top 3 suppliers representing 20.10% of raw material costs(p.312)
- • Dependence on state electricity boards and exposed to power supply disruptions(p.313)
- • Significant reliance on leased manufacturing facilities with renewal risks(p.319)
- • Limited operational history at newly commissioned facilities creating execution risk(p.306)
- • High dependence on secured borrowings and collateral pledging(p.433)
- • Significant contingent liabilities and ongoing disputes(p.449)
- • Pending legal proceedings and unresolved litigation(p.450)
- • Complex related party transactions requiring board approvals(p.417)
- • Significant dependence on top 10 customers for revenue(p.492)
- • High leverage with debt-to-equity ratio increasing(p.486)
- • Operational disputes in joint ventures impacting performance(p.477)
- • High concentration in top 3 suppliers for raw materials(p.493)
- • Two joint ventures in discontinuing/non-going concern status(p.477)
- • Multiple tax proceedings against company and subsidiaries(p.548)
- • Concentration of material creditor dependence(p.548)
- • High indirect tax exposure(p.548)
- • Investor minority position with limited control(p.661)
- • Debt covenant constraint limiting leverage(p.662)
- • Dependence on promoter compliance with non-compete(p.667)
- • Share transfer restrictions and lock-in requirements(p.665)
- • Required IPO within 63 months or investor put rights trigger(p.664)
Opportunities
- • High demand for recycled aluminium in automotive EV and lightweight components(p.61)
- • Expansion into new product lines and facilities(p.53)
- • Capacity expansion plans from 520,950 MT to 615,150 MT(p.68)
- • Geographic expansion across India with 13 facilities in key auto clusters(p.67)
- • Strong growth in global recycled aluminium market projected to reach USD 141.3 billion by CY2030 with CAGR of 5.2%(p.209)
- • Significant expansion in India's recycled aluminium market expected to grow at 12.9% CAGR reaching USD 10.0 billion by 2030(p.222)
- • Rising electric vehicle adoption globally expected to increase aluminium demand(p.209)
- • India positioned as cost-effective alternative supplier following US tariff imposition on competing nations(p.191)
- • Government support for circular economy through vehicle scrappage, EPR, and battery management policies(p.201)
- • Strong tailwind from EV adoption driving increased aluminium demand(p.298)
- • Rapid expansion of India's recycled aluminium market with double-digit growth projected(p.295)
- • Supportive government regulatory framework promoting organised recycling and EPR compliance(p.296)
- • Expansion opportunity into lithium-ion battery recycling and critical minerals(p.295)
- • Growing global demand for green aluminium driven by carbon reduction initiatives(p.295)
- • Strategic partnership with primary aluminium producer creating guaranteed revenue visibility(p.298)
- • Government incentive schemes for industrial development(p.443)
- • Renewable energy integration through solar partnerships(p.428)
- • Expansion of manufacturing capacity(p.424)
- • Derivative hedging strategies to optimize commodity costs(p.412)
- • Expansion into metal recycling and scrap segregation business(p.490)
- • Growing export potential with current 2.50% of revenue from outside India(p.492)
- • Diversification of revenue streams through job work services(p.490)
- • Strategic partnerships with international aluminium and environmental companies(p.472)
- • Two patents granted for manufacturing process innovation(p.552)
- • Registered intellectual property portfolio(p.551)
- • Patent applications pending for additional process innovations(p.552)
- • Expansion through new plant capacity buildout(p.662)
- • Planned IPO providing liquidity and capital access(p.664)
- • Investor can facilitate secondary sales to strategic buyers(p.666)
- • Business plan flexibility for future expansion(p.661)
Threats
- • Price volatility and competition from virgin metals in global recycling industry(p.51)
- • Fragmented regulatory landscape and lack of unified national recycling framework in India(p.51)
- • Infrastructure gaps with obsolete machinery and low recovery rates in Indian metal recycling(p.51)
- • Fragmented and informal supply chain creating vulnerability to geopolitical and price risks(p.51)
- • Restrictions on import of raw materials could adversely impact operations(p.50)
- • Fluctuations in commodity prices and foreign exchange rates(p.50)
- • Operational hazards from handling high-temperature liquid metal and hazardous materials(p.51)
- • Heavy dependence on automotive OEMs and Tier 1 companies (79.29% of revenue)(p.61)
- • Automotive industry cyclicality and economic sensitivity(p.61)
- • Volatility in raw material supply and pricing (87.96% of revenue)(p.62)
- • Price pressure from Tier 1 and OEM customers(p.73)
- • Geographic concentration of facilities in automotive hubs(p.76)
- • Operational hazards including explosions, fires, and liquid metal transport risks(p.56)
- • Power, fuel and water supply disruptions affecting production(p.72)
- • Intense competition with low capital intensity allowing new entrants(p.81)
- • Stringent environmental and labour laws subject to tightening(p.84)
- • Foreign exchange exposure with 2.50% revenue from exports(p.70)
- • Geopolitical tensions and tariff risks(p.97)
- • International trade policy changes and tariff escalation(p.97)
- • Middle East geopolitical instability(p.97)
- • India sovereign rating downgrade risk(p.97)
- • Global financial instability and market contagion(p.99)
- • Inflation pressures and inability to pass costs to customers(p.99)
- • Natural and man-made disasters, terrorism, civil unrest(p.99)
- • Regulatory and compliance changes(p.98)
- • Global macroeconomic slowdown with IMF forecasting 3.2% growth in 2025 down from 3.3% in 2024(p.187)
- • US tariff escalation on metals including 50% duties on steel and aluminium affecting global trade flows(p.190)
- • China's 45-million-ton aluminium production cap constraining global supply and affecting market dynamics(p.209)
- • Rising geopolitical tensions including Russia-Ukraine war and Israel-Iran conflicts impacting commodity markets(p.191)
- • Fragmented and informal recycling infrastructure in India limiting scrap collection and supply(p.222)
- • Weak demand from Chinese industrial sector and potential metal oversupply(p.192)
- • Intense competition from both organised and unorganised aluminium recycling players(p.319)
- • Risk of stringent carbon border adjustment mechanisms impacting export competitiveness(p.297)
- • Manufacturing dependent on energy-intensive operations exposed to commodity price volatility(p.294)
- • Raw material supply dependency on availability and pricing of scrap aluminium globally(p.311)
- • Exposure to automotive sector cyclicality and demand fluctuations(p.319)
- • Regulatory and tax compliance complexities(p.415)
- • Commodity price volatility exposure(p.444)
- • Customs and excise duties disputes(p.450)
- • Joint venture company operational and realization risks(p.417)
- • High exposure to foreign currency fluctuations(p.495)
- • Commodity price volatility affecting aluminum and metal scrap prices(p.481)
- • Heavy dependence on imports for raw materials(p.493)
- • Significant inventory holding risk(p.486)
- • Declining export revenue trend(p.492)
- • Dependency on group companies with information access limitations(p.570)
- • SEBI rejected exemption application for disclosure requirements(p.570)
- • Promoter change of control restrictions and default risks(p.668)
- • Plant capacity target risk if not met(p.662)
- • External financing recall risk(p.668)
- • Extraordinary circumstances making obligations improbable or unlawful(p.669)
- • Compliance burden with environmental and ESG requirements(p.662)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mohan Agarwal | Promoter Selling Shareholder | — | — |
| Pratibha Agarwal | Promoter | — | — |
| Akshay Agarwal | Promoter | — | — |
| Raghav Agarwal | Promoter | — | — |
| Gauri Shankar Agarwala HUF (through its karta) | Promoter Group Selling Shareholder | — | — |
| Mohan Agarwal HUF (through its karta) | Promoter Group Selling Shareholder | — | — |
| Mohan Agarwal | Promoter and Chairman and Managing Director | — | — |
| Akshay Agarwal | Promoter and Whole-time Director | — | — |
| Raghav Agarwal | Promoter and Whole-time Director | — | — |
| Mohan Agarwal | Promoter | 42.85% | — |
| Pratibha Agarwal | Promoter | 20.25% | — |
| Akshay Agarwal | Promoter | 10.00% | — |
| Raghav Agarwal | Promoter | 10.00% | — |
| Gauri Shankar Agarwala (HUF) | Promoter Group | 2.95% | — |
| Mohan Agarwal (HUF) | Promoter Group | 0.90% | — |
| Global Scrap Processors Limited | Investor Selling Shareholder | 13.05% | — |
| Mohan Agarwal | Promoter | — | — |
| Mohan Agarwal (HUF) | Promoter | — | — |
| Gauri Shankar Agarwala (HUF) | Promoter | — | — |
| Akshay Agarwal Family Private Trust | Promoter Group | — | — |
| GS Agarwala Family Private Trust | Promoter Group | — | — |
| K Agarwal Family Private Trust | Promoter Group | — | — |
| Raghav Agarwal Family Trust | Promoter Group | — | — |
| Mohan Agarwal | Promoter | 42.85% | — |
| Pratibha Agarwal | Promoter | 20.25% | — |
| Akshay Agarwal | Promoter | 10.00% | — |
| Raghav Agarwal | Promoter | 10.00% | — |
| Shri Mohan Agarwal | Promoter | 62.31% (March 31, 2024) | 42.85% (December 31, 2025) |
| Smt. Pratibha Agarwal | Promoter | 20.25% (March 31, 2023) | 20.25% (December 31, 2025) |
| Global Scrap Processors Limited | Investor/Shareholder | 13.05% (March 31, 2025) | 13.05% (December 31, 2025) |
| Mr. Akshay Agarwal | Promoter | 0.45% (March 31, 2024) | 10.00% (December 31, 2025) |
| Mr. Raghav Agarwal | Promoter | 0.08% (March 31, 2024) | 10.00% (December 31, 2025) |
| Mr. Mohan Agarwal | Managing Director | — | — |
| Mr. Gauri Shankar Agarwala | Chairman Emeritus | — | — |
| Mr. Akshay Agarwal | Executive Director | — | — |
| Mr. Raghav Agarwal | Executive Director | — | — |
| Mohan Agarwal | Promoter | — | — |
| Mohan Agarwal HUF | Promoter Group | — | — |
| Gauri Shankar Agarwala HUF | Promoter Group | — | — |
| Mohan Agarwal (HUF) | Promoter | — | — |
| Gauri Shankar Agarwala (HUF) | Promoter | — | — |
| Smt. Kalawati Agarwal | Promoter | — | — |
| Smt. Pratibha Agarwal | Promoter | — | — |
| M/s Ramayana Polymers Pvt. Ltd. | Promoter | — | — |
| M/s Forever Multimedia Pvt Ltd | Promoter | — | — |
| M/s Sanjivani Non Ferrous Trading Private Limited | Promoter | — | — |
| M/s Grand Metal Recycling Pvt. Ltd. | Promoter | — | — |
| M/s Suvridhi Financial Services Ltd. | Promoter | — | — |
| Mohan Agarwal | Promoter Selling Shareholder | — | — |
| Gauri Shankar Agarwala HUF (through its karta) | Promoter Group Selling Shareholder | — | — |
| Mohan Agarwal HUF (through its karta) | Promoter Group Selling Shareholder | — | — |
| Global Scrap Processors Limited | Investor Selling Shareholder | — | — |
Leadership
Mohan Agarwal · Chairman and Managing Director
Yugal Kishor Garg · Chief Financial Officer
Srishti Saxena · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.