Cospower Engineering SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 17 Mar 2020 – 19 Mar 2020
- Listing date
- 30 Mar 2020
- Face value
- ₹10 per share
- Issue price
- ₹51 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹2.04 Cr
- Market cap at offer price
- ₹7.65 Cr
- Promoter holding
- 100.00% → 73.33% pre-issue → post-issue
- ISIN
- INE0CQB01010
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- Flat No.203, 2nd Floor, Kesarinath Apartments,, S.V. Road, Opp. Vijay Sales,, Goregaon West,, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 24,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹51
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,02,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,04,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,18,000 |
| B-HNI (min) | 10 | 20,000 | ₹10,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹7.65 Cr |
About Cospower Engineering SME
Cospower Engineering Limited was incorporated on September 22, 2010 in Mumbai as Cospower Engineering Private Limited specifically to acquire the partnership business of M/s. Cospower Corporation (engaged in trading and marketing of electric goods since 2004), taking over its running business along with assets and liabilities vide takeover agreement dated December 01, 2010; it converted into a public limited company pursuant to a special resolution on January 23, 2020 and was renamed Cospower Engineering Limited vide fresh certificate of incorporation dated February 19, 2020. The company manufactures electrical panels, harmonic filters, capacitors, switchgears, cable termination kits, transformers, battery chargers and substation/equipment mounting structures at its leased plant in Vasai (Palghar, Maharashtra), and provides turnkey services involving supply, installation, commissioning, testing and comprehensive maintenance of electric products, buying certain items from other manufacturers so as to offer an 'under one roof' complete package of electrical systems and solutions. Its service lines include turnkey contracts for electrical substations up to 132 kV, annual maintenance contracts for capacitor and HT switchgear systems, electrical system/power-quality study solutions and energy audits. It operates on a work-order basis without long-term customer contracts, marketing to government agencies, public sector undertakings and private clients, with modest export sales; its top ten customers contributed approximately 69.21% of FY2018-19 revenues. Restated total revenue was ₹1,303.26 Lakhs with PAT of ₹51.73 Lakhs for FY2019, and ₹748.88 Lakhs with PAT of ₹24.86 Lakhs for the nine months ended December 31, 2019. The company had 44 employees as on December 31, 2019 and holds ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications.
Company Analysis
from RHPCospower Engineering Limited manufactures electrical panels, harmonic filters and substation/equipment mounting structures and provides turnkey electrical contracting, maintenance and power-quality services, spanning the electrical equipment manufacturing and power infrastructure industries.
Cospower Engineering Limited was incorporated on September 22, 2010 in Mumbai as Cospower Engineering Private Limited specifically to acquire the partnership business of M/s. Cospower Corporation (engaged in trading and marketing of electric goods since 2004), taking over its running business along with assets and liabilities vide takeover agreement dated December 01, 2010; it converted into a public limited company pursuant to a special resolution on January 23, 2020 and was renamed Cospower Engineering Limited vide fresh certificate of incorporation dated February 19, 2020. The company manufactures electrical panels, harmonic filters, capacitors, switchgears, cable termination kits, transformers, battery chargers and substation/equipment mounting structures at its leased plant in Vasai (Palghar, Maharashtra), and provides turnkey services involving supply, installation, commissioning, testing and comprehensive maintenance of electric products, buying certain items from other manufacturers so as to offer an 'under one roof' complete package of electrical systems and solutions. Its service lines include turnkey contracts for electrical substations up to 132 kV, annual maintenance contracts for capacitor and HT switchgear systems, electrical system/power-quality study solutions and energy audits. It operates on a work-order basis without long-term customer contracts, marketing to government agencies, public sector undertakings and private clients, with modest export sales; its top ten customers contributed approximately 69.21% of FY2018-19 revenues. Restated total revenue was ₹1,303.26 Lakhs with PAT of ₹51.73 Lakhs for FY2019, and ₹748.88 Lakhs with PAT of ₹24.86 Lakhs for the nine months ended December 31, 2019. The company had 44 employees as on December 31, 2019 and holds ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications.
Objects of the Issue
- Funding working capital requirements ₹117.50 Lakhs p.77
- General corporate purposes ₹38.00 Lakhs p.78
- Meeting public issue expenses ₹48.50 Lakhs p.78
Issue Structure
- Total Issue
- Upto 4,00,000 Equity Shares of face value ₹10.00 each at ₹51.00 per Equity Share aggregating to ₹204.00 Lakhs (constituting 26.67% of the post-issue paid-up equity share capital)
- Fresh Issue
- Entire Issue is a Fresh Issue of upto 4,00,000 Equity Shares aggregating ₹204.00 Lakhs (of which upto 24,000 Equity Shares / ₹12.24 Lakhs reserved for Market Maker; Net Issue upto 3,76,000 Equity Shares / ₹191.76 Lakhs)
- Price Band
- Fixed Price Issue at ₹51.00 per Equity Share (including share premium of ₹41.00); no price band applicable
- Lot Size
- 2000 Equity Shares
- Face Value
- ₹10.00 per Equity Share
Business Model
Revenue comes primarily from sale of manufactured and traded electrical equipment (capacitors, LT/HT panels, harmonic filters, switchgears, cable termination kits, transformers, battery chargers, control & relay panels, surge arresters) executed on customer work orders, supplemented by service income from turnkey substation contracting up to 132 kV, annual maintenance contracts, power-quality studies and energy audits; sales are predominantly domestic to government agencies, public sector undertakings and private clients, with small export sales.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Oswald Rosario Dsouza | Promoter | 50.00% (5,49,997 Equity Shares) | 36.66% (5,49,997 Equity Shares) |
| Mr. Felix Shridhar Kadam | Promoter | 50.00% (5,49,998 Equity Shares) | 36.67% (5,49,998 Equity Shares) |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.