News Details

( As on 12/03/2020 11:10)

Cospower Engineering announces launch of initial public offering

Cospower Engineering Ltd. has announced public offering of 400000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 41.00 per share. The gross proceeds of the issue are expected to be Rs 205.20 lakhs.

The company's initial public offer (IPO) will open on 17 March 2020 and is expected to close on 19 March 2020, subject to customary closing conditions.

The IPO includes a fresh Issue of 400000 Equity Shares of the Company at an price of Rs 51.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 2000 shares with bids in multiples of 2000.

Cospower Engineering Ltd. anticipates using the proceeds of the issue for To meet Working Capital requirements General Corporate Purpose To meet issue expenses.

Shreni Shares Pvt. Ltd. as lead manager & Bigshare Services Pvt. Ltd. is the registrar, to the issue.