These 2 IPOs shall open for subscription next week
What's the story
India's primary market is gearing up for an active week with two public issues, CMR Green Technologies and Hexagon Nutrition, set to open for subscription. The companies are looking to raise nearly ₹770 crore in total. The upcoming IPOs come after a lull in the market over the past few weeks due to tepid investor sentiment, amid volatile equity markets and global uncertainty.
First offering
CMR Green Technologies
The first IPO to hit the market will be that of CMR Green Technologies. The company's offer will open on June 3 and close on June 5, with a price band of ₹182-192 per share. The firm hopes to raise ₹630.9 crore through this public issue, which is being managed by Equirus Capital.
Company profile
About the company
CMR Green Technologies operates in the metal recycling and circular economy space, producing recycled aluminum and zinc products for automotive and industrial applications. The company has a number of leading automotive manufacturers as its customers. It is well-positioned to benefit from the growing trend of using recycled metals and sustainability-focused manufacturing practices.
Second offering
Hexagon Nutrition
The second mainboard issue for next week is that of Hexagon Nutrition. The company's offer will open on June 5 and close on June 9, with a price band of ₹42-45 per share. It plans to raise ₹138.9 crore through an offer for sale of 3.09 crore shares. This issue is entirely an OFS.
Work
What does it do?
Hexagon Nutrition is a research-driven nutrition company that makes micronutrient premixes, wellness and clinical nutrition products, therapeutic formulations, as well as ready-to-use nutritional foods. The company has reported steady financial growth in recent years with profit after tax rising to ₹24.4 crore in FY25 from ₹12.2 crore in FY24 and ₹5.8 crore in FY23. Total income also increased to ₹331 crore during this period.