Cosmic CRF Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹314 – ₹330

Listed On

30 Jun 2023

Listing Price

₹238.65 (-27.68%)

Current Price LIVE

₹238.65 (-27.68%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	400	₹1,32,000
Retail (Max)	2	800	₹2,64,000
S-HNI (Min)	3	1,200	₹3,96,000
S-HNI (Max)	7	2,800	₹9,24,000
B-HNI (Min)	8	3,200	₹10,56,000

As per financials, Cosmic CRF Limited has very limited financial details, RoNW is 39.35% and P/E is 35.62 as per FY23 earnings, which looks very aggressively priced. Company has nearly Rs 400 Cr order book. Company is in business of supplying cold-rolled stainless sections, which is very competitive and fragmented. So we are giving AVOID rating to this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	34,400	3,98,400	12,98,000	17,30,800
Day 1 14-06-23	0	6,400 (0.02)	1,06,800 (0.08)	1,13,200 (0.07)
Day 3 16-06-23	1,29,200 (3.76)	5,01,600 (1.26)	6,55,600 (0.51)	12,86,400 (0.74)
Day 4 19-06-23	1,29,200 (3.76)	5,32,000 (1.34)	6,43,200 (0.50)	13,04,400 (0.75)
Day 5 20-06-23	1,29,200 (3.76)	8,83,200 (2.22)	6,78,800 (0.52)	16,91,200 (0.98)
Day 6 21-06-23	1,29,200 (3.76)	10,99,200 (2.76)	7,80,000 (0.60)	20,08,400 (1.16)

Indong Tea Company Limited incorporated in the year 1990, owns and operates a Tea Garden under Government lease and is engaged in Tea Plantation & Manufacturing of CTC Tea at Indong Tea Estate situated at Jalpaiguri District of West Bengal. The Indong Tea Estate is spread over an area of 740.38 Hectares which comprises of Tea Plantation, Tea Factory, Withering Trough House, Officer's Bunglows, Staff Quarters, Labour Quarters, Pump House, General Stores, Dairy Farm etc. Company has employed approximately 1346 employees at various levels of the Organization including temporary labour. As of March 31, 2023, the total order book value of the company is Rs 536.41 Cr, out of which orders amounting to Rs 135.66 Cr have been executed and orders amounting to Rs 400.74 Cr are ongoing. Further, as of March 31, 2023, the company has completed 25 orders for the supply of cold rolled stainless sections and 23 orders are ongoing. As per financial performance, Cosmic CRF Limited has posted total income/net profits of Rs 0.0 Cr / Rs (0.12) Cr (FY22) and Rs 121.49 Cr / Rs 6.41 Cr (upto 9M FY23). So company is new and very limited financial details are available. Company has posted an average EPS of Rs 8.16 and average RoNW of 25.78% for last three fiscals. Issue is priced at a P/B of 14.77 as per NAV of Rs 22.34 as on 31.03.23. As per FY23 earnings on fully diluted equity post issue, asking price is at P/E of around 35.62. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, Horizon Management Private Limited associated with this SME IPO and this is first IPO from this BRLM. ( As on 09.06.23 ) As per financials, Cosmic CRF Limited has very limited financial details, RoNW is 39.35% and P/E is 35.62 as per FY23 earnings, which looks very aggressively priced. Company has nearly Rs 400 Cr order book. Company is in business of supplying cold-rolled stainless sections, which is very competitive and fragmented. So we are giving AVOID rating to this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Fresh Issue

1
( Rs 30/- Cr )Funding of working capital requirements of the Compan
2
( Rs 10/- Cr )Prepayment or repayment of all or a portion of certain unsecured loans availed by the Compan
3
( Rs 11/- Cr )General Corporate Purpose
4
Funding the expansion of the existing manufacturing unit. ( Rs 30/- Cr )
5
Funding of working capital requirements of the Company. ( Rs 10/- Cr )
6
Prepayment or repayment of all or a portion of certain unsecured loans availed by the Company. ( Rs 11/- Cr )
7
General Corporate Purposes.
8
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
9
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
10
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
11
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
12
However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
13
Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY23	121.49	112.81	6.41
FY22	0.00	0.16	(0.12)

Open Date	Jun 14, 2023
Close Date	Jun 21, 2023
Allotment Date	Jun 27, 2023
Listing Date	Jun 30, 2023
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 314 to ₹ 330 Per Equity Share
Issue Size	Fresh Issue of Up to 18,22,000 with aggregating up to Rs 60.13/- Cr
Retail Min Lot	1 Lot (400 Shares - ₹ 1,32,000)
Lead Manager	Horizon Management Private Limited

Cosmic CRF Limited

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