Cosmic CRF IPO: Issue to open on June 14; Check GMP, price band other key things 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.

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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.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.