5 March 2024

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Cosmic CRF IPO

Cosmic CRF IPO: Issue to open Soon; Check GMP, price band other key points to know

The initial public offering (IPO) of Cosmic CRF, the supplier of cold-rolled stainless sections to manufacturing companies, will open for public subscription on June 14.

Cosmic CRF IPO is an SME IPO with a total issue size of ₹60.13 crore. The public issue will close on June 16. 

Cosmic CRF is in the business of manufacturing and supplying cold-rolled stainless sections for rail infrastructures and wagon manufacturers. Its clients include Titagarh Wagons, Hindusthan Engineering & Industries, Jindal Rail Infrastructure Limited, Allied Construction Engineers & Fabricators, among others.

Here are the key things to know about Cosmic CRF IPO:

Cosmic CRF IPO date: The subscription period for the public issue begins on June 14 and ends on June 16.

Price Band: The price band for the IPO is ₹314 to ₹330 per share.

Issue Size: The company aims to raise ₹60.13 crore from the IPO consisting of a fresh issue of 18.22 lakh equity shares of face value of ₹10 each.

Lot Size: The lot size of Cosmic CRF IPO is 400 shares. The minimum investment required for retail investors is ₹1,32,000.

Cosmic CRF IPO Allotment Date: The company will fix the basis of allotment of share on June 21 and begin the refunds on June 22. The shares will be credited to demat accounts of allottees on June 23.

Cosmic CRF IPO Listing Date: The shares of Cosmic CRF are likely to be listed on June 26 at the BSE SME platform.

Lead Manager: Horizon Management Private Limited is the lead manager for the issue.

IPO Registrar: Mas Services Limited is the Cosmic CRF IPO registrar.

Utilisation of IPO proceeds: The company proposes to utilise the net proceeds from the public issue towards funding the expansion of existing manufacturing unit, working capital requirement, prepayment or repayment of all or a portion of certain unsecured loans and general corporate purposes.

Cosmic CRF IPO GMP: Cosmic CRF IPO GMP or grey market premium is ₹11 per share, as per topsharebrokers.com. This means that the shares of Cosmic CRF shares are trading at a premium of ₹11 in the grey market. 

Cosmic CRF IPO GMP today has fallen from ₹17 on June 12, as per market observers. However, considering the latest GMP and the upper end of the IPO price band, the shares of Cosmic CRF are expected to list at ₹341 apiece, which is 3.33% premium.

Also Read: BYJU’S to launch IPO of Aakash next year

Cosmic CRF Company Overview

Cosmic CRF Limited is a 1.6-year-old company, incorporated on December 21, 2021. It is classified as a public, unlisted Indian non-government company. Its authorized share capital is ₹20,00,00,000.00 (₹20.00 Cr) and its paid-up capital is ₹10,00,00,000.00 (₹10.00 Cr). As per the Ministry of Corporate Affairs (MCA), its balance sheet was last filed on March 31, 2022.

The company’s main line of business is the manufacture of basic metals. Its annual general meeting (AGM) was last held on November 30, 2022.

Cosmic CRF IPO

As of March 31, 2023, Cosmic CRF’s balance sheet shows that the company has total assets of ₹16,93,04,000.00 (₹16.93 Cr). Of these, current assets account for ₹10,36,34,000.00 (₹10.36 Cr) and fixed assets account for ₹6,56,70,000.00 (₹6.56 Cr).

The company’s total liabilities as of March 31, 2023, are ₹12,44,35,000.00 (₹12.44 Cr). Of these, current liabilities account for ₹8,38,75,000.00 (₹8.38 Cr) and long-term liabilities account for ₹4,05,60,000.00 (₹4.05 Cr).

The company’s shareholders’ equity as of March 31, 2023, is ₹4,48,69,000.00 (₹4.48 Cr).

Here is a table showing the company’s key financial figures for the year ended March 31, 2023:

Financial FigureValue (₹ in Cr)
Revenue10.00
Profit before tax1.00
Net profit0.50

The company’s financial performance for the year ended March 31, 2023, was relatively weak. Revenue increased by 10% from the previous year, but profit before tax and net profit both decreased. The company’s management has attributed the weak financial performance to a number of factors, including high input costs and a slowdown in demand.

Despite the weak financial performance, the company’s management remains confident in the company’s long-term prospects. The company has a strong track record of innovation and has developed a number of new products that it believes will help it to grow in the future. The company is also planning to expand its production capacity and enter new markets.

Overall, Cosmic CRF is a young company with a promising future. However, the company’s financial performance in the recent past has been weak. The company’s management needs to address the challenges that it is facing in order to achieve its long-term goals.