Cosmic CRF IPO will open for subscription from 14 June 2023. the company aims for an issue size of ₹60.13 Cr through this IPO.
Company Overview
| Full name | Cosmic CRF Limited |
| Sector | Iron & Steel |
| Industry | Steel & Iron Products |
| Company Website | https://cosmiccrf.com/ |
About Company
The company supplies cold rolled stainless sections to renowned wagon manufacturers such as Titagarh Wagons Limited, Hindusthan Engineering & Industries Limited, Melbrow Engineering Works Private Limited, Jindal Rail Infrastructure Limited, Allied Construction Engineers & Fabricators, etc. In addition, the company also supplies cold rolled stainless sections to direct orders of the railways through tender procurement. Its product portfolio largely consists of cold-rolled stainless sections, such as fabricated items for railway, coach & wagons, cold-rolled formed items for wagons and coaches, cold-rolled formed items for infra companies and EPC projects, and products for roadways and national highways.
As of 31 March 2023, Cosmic CRF’s order book stood at INR 536.41 crore, out of which orders amounting to INR135.66 crore have been executed. Further, as of 31 March 2023, the company has completed 25 orders for the supply of cold rolled stainless sections and 23 orders are ongoing.
Pursuant to the Business Transfer Agreement dated 19 January 2022, the company acquired the CRF unit of Cosmic Ferro Alloys Limited. The purchase included a manufacturing unit in West Bengal spread over an area of approximately 3.82 acres together with plant, machinery, assets, and liabilities.
The Objective of the Issue
- Funding the expansion of existing manufacturing units.
- Funding of working capital requirement.
- Prepayment or repayment of all or a portion of certain unsecured loans.
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 14 June 2023 |
| IPO Closing | 16 June 2023 |
| Basis of Allotment | 21 June 2023 |
| Initiation Refund | 22 June 2023 |
| Credit to Demat Account | 23 June 2023 |
| Listing Date | 26 June 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹60.13 Cr – 1,822,000 shares |
| Fresh Issue | ₹60.13 Cr – 1,822,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹314 to ₹330 per share |
| Lot size | 400 Shares |
| Retail Allocation | 71.24% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Retail (Min) | 1 | 400 | ₹132,000 |
| Retail (Max) | 1 | 400 | ₹132,000 |
| HNI (Min) | 2 | 800 | ₹264,000 |
Reservation Details
| QIB Shares Offered | 34,400 (1.89%) |
| NII (HNI) Shares Offered | 398,400 (21.87%) |
| Retail Shares Offered | 1,298,000 (71.24%) |
| Market Maker Shares Offered | 91,200 (5.01%) |
Financial Performance
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-22 | 1,605.02 | -11.80 | 873.10 | -11.80 | 671.72 | |
| 31-Mar-23 | 6,875.24 | 12,149.31 | 641.20 | 1,629.40 | 629.40 | 3,151.33 |
Valuations & Margins
| FY 2022 | FY 2023 | |
| EPS | (2.52) | 13.50 |
| PE ratio | – | 23.26 – 24.44 |
| RONW (%) | (1.35) | 39.35 |
| NAV | 9.70 | 22.34 |
| ROCE (%) | (0.01) | 0.23 |
| EBITDA (%) | NA | 9.99 |
| Debt/Equity | 0.77 | 1.93 |
Company Promoters
- Mr. Aditya Vikram Birla
Promoter Holding
| Pre Issue Share Holding | 98.42 |
| Post Issue Share Holding | 72.52 |
Lead Manager(s)
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road
Main Building, 2nd Floor
Kolkata- 700 001
Tel No: +91 33 46000607
Email: smeipo@horizon.net.co
Website: www.horizonmanagement.in
IPO Registrar
MAS SERVICES LIMITED
T-34, 2nd Floor, Okhla Industrial Area,
Phase – II, New Delhi -110 020, Delhi, India
Phone: +91 112 638 7281/83, 4132 0335
Email: info@masserv.com
Website: www.masserv.com
Contact Details
COSMIC CRF LIMITED
19, Monohar Pukur Road,
Kolkata – 700 029, West Bengal, India
Phone: +91 810 086 2182
E-mail: cs@cosmiccrf.com
Website: www.cosmiccrf.com
Allotment Status
Cosmic IPO allotment status will be available on Mas Services’ website. Click on Mas Services IPO weblink to get allotment status.
Final thoughts
Cosmic CRF IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
