IPO Boom: CMR Green and Hexagon Nutrition Set for Market Debut

MUMBAI — The Indian primary market is witnessing heightened activity this June as two prominent mainboard initial public offerings (IPOs), CMR Green Technologies Limited and Hexagon Nutrition Limited, progress through their concluding market phases. While non-ferrous metal recycling leader CMR Green Technologies concluded its bidding process on June 5, 2026, with an overwhelming subscription response, research-driven wellness firm Hexagon Nutrition opened its doors to public bidding on the exact same day. Both public issues are scheduled to complete their listings on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) within the week.

Heavy Bidding Sweeps Metal Recycler's Issue

The initial public offering of CMR Green Technologies closed its final day of subscription on Friday, June 5, 2026, recording massive institutional and retail demand. Market data released by the National Stock Exchange (NSE) showed that the book-built issue was subscribed over 33.58 times overall by the 5:00 PM close of bidding.

The public issue, valued at ₹630.88 crore, consists entirely of an Offer for Sale (OFS) of up to 3.29 crore equity shares with a face value of ₹2 each. The company established a price band of ₹182 to ₹192 per equity share. According to official exchange filings, high-net-worth individuals (HNIs) drove the momentum, with the Non-Institutional Investors (NII) segment subscribed 26.75 times, while the Qualified Institutional Buyers (QIB) category fetched a subscription rate of 80.84 times. Retail Individual Investors booked their allocation 9.87 times.

Financial advisors including Equirus Capital Private Limited, ICICI Securities Limited, and Motilal Oswal Investment Advisors Limited are steering the book-building process. Share allotment is scheduled to finalize on Monday, June 8, 2026.

Wellness Major Hexagon Seeks Market Premium

Simultaneously, clinical nutrition specialist Hexagon Nutrition Limited initiated its public bidding window on June 5, 2026, which will remain open until June 9, 2026. The company, which specializes in micronutrient premixes and therapeutic formulations like Pentasure and Obesigo, aims to raise ₹138.87 crore through its listing.

Hexagon Nutrition's price band is fixed at ₹42 to ₹45 per share, with a minimum lot size of 333 shares requiring an investment of ₹14,985 at the upper cutoff. Similar to CMR Green, Hexagon's issue is structured entirely as an Offer for Sale of 3.09 crore shares, meaning all proceeds will flow directly to paring legacy promoters' stakes rather than corporate expansion funds. On its opening day, early data indicated a conservative retail start with a total subscription rate of 0.21 times by midday.

Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited are acting as the lead managers for the nutrition firm's issue.

Brokerage Stance: Financial research desks at SBI Securities and BP Equities have issued "Subscribe" ratings for CMR Green Technologies, citing a multi-year compounded revenue growth trend in secondary aluminum demand and a reasonable price-to-earnings (P/E) multiple of 21.3x based on forward earnings projections.

Timelines and Allotment Schedules

The structural layout of both mainboard initial public offerings presents overlapping timelines for domestic retail investors:

Official Sources Section

According to statutory disclosures filed with the Securities and Exchange Board of India (SEBI), both issuers have designated KFin Technologies Limited as their official registrar to manage investor allocations, applications, and refund distributions.

A formal note issued by the merchant bankers of CMR Green Technologies confirmed:

"The basis of allotment will be approved in coordination with the designated stock exchanges on or before June 8, following which electronic credit transfers into individual demat accounts will commence."

Why It Matters

For retail market participants and market institutional desks, these public listings indicate healthy primary liquidity despite macroeconomic uncertainties. For manufacturing and consumer-staple ecosystems, the successful listing of a metals recycler and a nutritional product exporter highlights structural investment shifts into circular economic models and wellness exports.

Key Facts at a Glance

• CMR Green Technologies IPO: Raised ₹630.88 crore, priced between ₹182–₹192 per share, and listed on June 10, 2026.

• Hexagon Nutrition IPO: Offers a ₹138.87 crore issue size with an accessible retail entry point at ₹45 per share.

• Capital Flow: Both issues are 100% Offer for Sale (OFS), returning capital to existing shareholders without issuing fresh company equity.

• Registrar Channel: All verification and allotment status pipelines are managed by KFin Technologies Limited.

FAQ Section

1. Where can I check my allocation status for these public issues?

Investors can check their allocation online through the web portal of the official registrar, KFin Technologies Limited, or via the official tracking desks of the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE).

2. When will the refund process initiate for unallotted shares?

For CMR Green Technologies, refund initiations via UPI unblocking and bank reversals will begin on June 9, 2026. For Hexagon Nutrition, unallotted application funds will release starting June 11, 2026.

3. What does a 100% Offer for Sale (OFS) mean for a company?

An OFS structure implies that the shares being sold belong entirely to existing promoters or early-stage investors. The capital raised does not go into the corporate bank accounts of the company itself.

Source: Securities and Exchange Board of India (SEBI) Red Herring Prospectus Filings, National Stock Exchange of India (NSE) Bidding Disclosures, official corporate declarations by CMR Green Technologies and Hexagon Nutrition.