Fixed Price IPO | ₹2 Cr | Listed at BSE SME | Tue, Mar 17, 2020 - Thu, Mar 19, 2020
Cospower Engineering IPO is a fixed price issue of ₹2.04 crores. The issue is entirely a fresh issue of 0.04 crore shares of ₹2.04 crore.
Cospower Engineering IPO bidding started from Mar 17, 2020 and ended on Mar 19, 2020. The shares got listed on BSE SME on Mar 30, 2020.
Cospower Engineering IPO price is ₹51 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,02,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,04,000.
Shreni Shares Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to Cospower Engineering IPO RHP for detailed Information.
IPO Open
Tue, Mar 17, 2020
IPO Close
Thu, Mar 19, 2020
Issue Price
₹51 per share
Market Cap (Pre-IPO)
₹7.65 Cr
| IPO Date | 17 to 19 Mar, 2020 |
| Listed on | Mon, Mar 30, 2020 |
| Face Value | ₹10 per share |
| Issue Price | ₹51 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 4,00,000 shares (agg. up to ₹2 Cr) |
| Reserved for Market Maker | 24,000 shares Shreni Shares Ltd. (agg. up to ₹0.1224 Cr) |
| Fresh Issue (Ex Market Maker) | 3,76,000 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 3,76,000 shares (agg. up to ₹2 Cr) |
| Share Holding Pre Issue | 11,00,000 shares |
| Share Holding Post Issue | 15,00,000 shares |
| BSE Script Code | 543172 |
| ISIN | INE0CQB01010 |
Cospower Engineering IPO comprises a total issue size of 4,00,000 shares. The net offer to the public is 3,76,000 shares, after excluding 24,000 shares allotted on a firm basis. Of the Net offer 1,88,000 (50.00%) allocated to NII 1,88,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 1,88,000 | 50.00% | 47.00% |
| Retail Shares Offered | 1,88,000 | 50.00% | 47.00% |
| Firm Reservations | |||
| Market Maker Shares Offered | 24,000 | 6.00% | |
| Total Shares Offered | 4,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,02,000 |
| Retail (Max) | 1 | 2,000 | ₹1,02,000 |
| HNI (Min) | 2 | 4,000 | ₹2,04,000 |
Incorporated in 2010, Cospower Engineering Limited is engaged in the manufacturing of electrical panels, equipment mounting structure, harmonic filters, and substation. It is also involved in offering turnkey services such as commissioning, installation, comprehensive maintenance, supply, and testing of electric products. The company also purchases a few products from other companies.
Cospower Engineering has a trained team to deal with various turnkey services for safe & proper functioning of electrical distribution equipment. The company manufactures and supplies the products on a contract basis as per customer requirements.
The manufacturing unit of the company is located at Vasai, Maharashtra. The facility is well-equipped with the required machinery and equipment.
Competitive Strengths
1. ISO certified organization
2. Wide product range
3. In-house manufacturing unit
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Working Capital requirements | 1.18 |
| 2 | General Corporate Purpose | 0.38 |
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 23 | |
| Promoter Holding | 100% | 73.33% |
| Market Cap | ₹7.65 Cr. |
The Cospower Engineering IPO is subscribed 1.53 times on March 19, 2020 6:49:23 PM (Day 3). The public issue subscribed 0.69 times in the retail category, [.] times in the QIB category, and 2.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.36 | 1,88,000 | 4,44,000 |
| Retail | 0.69 | 1,88,000 | 1,30,000 |
| Total | 1.53 | 3,76,000 | 5,74,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees (including printing, legal advisor and advertisement expenses) | 0.35 |
| 2 | Underwriting Commission | 0.08 |
| 3 | Fees Payable to Registrar to the Issue | 0.01 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.03 |
| 5 | Others (Fees Payable to Statutory Auditor, Marketing Expenses, Brokerage, Processing Fees for Application* and Miscellaneous Expenses) | 0.02 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹51.00 |
| Open | ₹51.00 |
| Low | ₹51.00 |
| High | ₹53.10 |
| Last Trade | ₹53.10 |
Lead Manager Reports
Cospower Engineering IPO is a SME IPO of 4,00,000 equity shares of the face value of ₹10 aggregating up to ₹2 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Mar 17, 2020, and closes on Thu, Mar 19, 2020.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Cospower Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Cospower Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Cospower Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Cospower Engineering IPO opens on Tue, Mar 17, 2020 and closes on Thu, Mar 19, 2020.
Cospower Engineering IPO lot size is 2000, and the minimum amount required for application is ₹1,02,000.
You can apply in Cospower Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Cospower Engineering IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Cospower Engineering IPO allotment status.
The Cospower Engineering IPO listing date is on Mon, Mar 30, 2020.
