Cosmic CRF IPO Subscription Status: The initial public offering (IPO) of Cosmic CRF, the supplier of cold-rolled stainless sections to manufacturing companies, opened for subscription on June 14.
Cosmic CRF IPO received lukewarm response from investors as the public issue was subscribed just 5% so far on day 1. The public issue received bids for 82,400 shares as against 18.22 lakh shares on offer, till 3:30 pm.
The IPO received 0.06 times subscription in the retail category and just 0.01 times in the non-institutional investors (NII) category so far on Day 1. Qualified Institutional Buyers (QIBs) were yet to place bids, as per data on chittorgarh.com.
Cosmic CRF IPO is an SME IPO with a total issue size of ₹60.13 crore. The public issue, which will close on June 16, consists of a fresh issue of 18.22 lakh equity shares of face value of ₹10 each.
The price band for the IPO is ₹314 to ₹330 per share and the lot size is 400 shares. The minimum investment required for retail investors is ₹1,32,000.
The company will fix the basis of allotment of shares on June 21 and begin the refunds on June 22. The shares will be credited to demat accounts of allottees on June 23.
The shares of Cosmic CRF are likely to be listed on June 26 at the BSE SME platform.
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.
