JSA is advising on the IPO of CMR Green Technologies Limited

J. Sagar Associates (JSA) is advising ICICI Securities Limited, Axis Capital Limited and JM Financial Limited, the book running lead managers in relation to the initial public offering of CMR Green Technologies Limited (“CMR”) (“IPO”). The IPO consists of a fresh issue of equity shares of CMR of up to INR 3 billion and an offer for sale of up to 33,414,138 equity shares by existing shareholders. CMR is the largest metal recycler in the Indian aluminium recycling industry and amongst the largest in the world.

CMR primarily focusses on the recycling of aluminum, which involves the processing of aluminium based metal scrap to manufacture aluminium alloys and supplying them both in liquid form as well as solid ingots, and on the manufacturing of zinc alloys. Customers primarily include OEMs and Tier 1 companies supplying to OEMs in the automotive manufacturing sector, including Maruti Suzuki India Limited, Honda Cars India Limited, Bajaj Auto Limited, Hero MotoCorp Limited, Royal Enfield Motors Limited and India Yamaha Motor Private Limited, and Toyota Industries Engine India Private Limited.

JSA team comprised Lead Partner – Arka Mookerjee, Partner – Pracheta Bhattacharya, Associate – Sourav Modi, and Junior Associate – Reshmi Prabhakar.