CMR Green Technologies IPO: Where did the cash go?
Before You Bid takes one IPO apart and asks the single question every investor should weigh before the window closes.This episode opens the prospectus on CMR Green Technologies, India's largest aluminium recycler, coming to market June 3–5, 2026 with a pure offer for sale of up to 631 crores — every rupee going to existing shareholders, none back into the company. On paper it holds up: 6,666 crores in FY25 revenue, 162 crores of profit over the latest nine months, a 31% return on net worth. But operations drained nearly 388 crores in cash over those same nine months, with the gap plugged by…
The skinny
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