Looking at the upcoming IPO of CMR Green Technologies, one of the most notable revelations in the DRHP is the sharp decline in the net asset value (NAV) per equity share – from ₹54.02 in FY23 to ₹20.93 in FY25.Against this backdrop, directors Akshay Agarwal and Raghav Agarwal purchased approximately 44 million shares in 2024 at a price of just ₹2 per share – less than 10% of the then-reported NAV. Despite being legally permissible, such transactions often attract scrutiny over pricing fairness and the impact of dilution on public shareholders.
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