Cosmic PV Power IPO Details

Bookbuilding IPO | ₹640 Cr | Listing at BSE, NSE |

SEBI has approved the Initial Public Offer (IPO) of Cosmic PV Power Ltd. on September 2, 2026. The company will proceed with next steps to launch the Initial Public Offer (IPO) subject to market conditions and other approvals. The SEBI approval is valid for 12 months.

Cosmic PV Power Ltd. IPO is a Book Build Issue of ₹640.00 crores consisting of a fresh issue of shares worth Rs ₹540.00 crores and an offer for sale (OFS) of ₹100.00 crores.

The equity shares are proposed to be listed on NSE and BSE. Systematix Corporate Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Cosmic PV Power IPO DRHP for more details.

IPO Details

IPO Date

[.]
Listing Date

[.]
Face Value

₹10 per share
Price Band
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE, NSE

Total Issue Size

[.] shares (agg. up to ₹640 Cr)
Fresh Issue

[.] shares (agg. up to ₹540 Cr)
Offer for Sale

[.] shares of ₹10 (agg. up to ₹100 Cr)
Share Holding Pre Issue

6,94,01,818 shares

Issue Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Offer
Retail Shares Offered	Not less than 35% of the Offer
NII Shares Offered	Not less than 15% of the Offer

Issue Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50% of the Net Offer
Retail Shares Offered	Not Less than 35% of Net Offer
NII Shares Offered	Not Less than 15% of the Net Offer

About Cosmic PV Power Ltd.

Incorporated in 2020, Cosmic PV Power Ltd. is engaged in the manufacturing of solar photovoltaic (PV) modules, along with providing EPC services and aluminium frame manufacturing. The company operates across solar and renewable energy segments, catering to OEMs, EPC players, and other industrial clients.

The company has scaled its manufacturing capacity from 100 MW in 2021 to 3.00 GW per annum as of the DRHP date. It operates automated manufacturing facilities in Surat, Gujarat, producing a range of solar PV modules with capacities between 420 WP to 750 WP.

It is also listed under the Ministry of New and Renewable Energy’s ALMM-I, enabling participation in government and utility-scale projects.

In addition, through its subsidiary, Cosmic Greentech Private Limited, the company undertakes aluminium profile manufacturing. As of February 28, 2026, the company has an order book of 2,643.65 MW and a presence across 13 states, serving 661 customers including OEMs and EPC companies.

The company has a workforce of 440 employees.

Company Financials (Restated)

(Amount in ₹ Crore)

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	346.90	211.85	74.66	25.03
Total Income	182.01	246.29	100.34	48.22
Profit After Tax	12.82	24.44	6.58	1.84
Reserves and Surplus	43.78	68.63	10.81	2.17

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The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

IPO Objects of the Issue

1 Financing the costs towards setting up of a planned manufacturing facility of the Company in Narmadapuram, Madhya Pradesh (“Proposed Greenfield Project”)

497.14
2 General corporate purposes
Total

497.14

Key Performance Indicator (KPI)

KPI	Sep 30, 2025	Mar 31, 2025
ROE	13.93%	57.73%
ROCE	10.84%	39.22%
Debt/Equity	1.21	0.79
RoNW	11.60%	34.74%
PAT Margin	7.05%	9.97%
NAV	16.56	10.85

IPO Valuation

Valuation Metric	Pre IPO	Post IPO
EPS (₹)	3.52

Shareholding Structure

Category	Pre IPO	Post IPO
Promoter and Promoter Group	82.99%
Public	17.01%
Total	100%

Company Promoters: Jenishkumar Deepakkumar Ghael, Shravan Kumar Gupta, Surabhi Sureshchandra Sahu and Maitry Jenishkumar Ghael.

Offer For Sale – Selling Shareholders

Name	Category	Estimated Amount (₹ cr.)
Jenishkumar Deepakkumar Ghael	Promoter	20.00
Shravan Kumar Gupta	Promoter	20.00
Surabhi Sureshchandra Sahu	Promoter	20.00
Maitry Jenishkumar Ghael	Promoter	20.00
RPV Holdings Pvt.Ltd.	Corporate	9.39

*Estimated Amount (₹ cr.) shown until the actual number of shares offered in OFS is entered.

IPO Registrar

Kfin Technologies Ltd.

040-79615565
cosmicpvpower.ipo@kfintech.com
Visit Website

IPO Lead Manager(s)

Systematix Corporate Services Ltd.
Valmiki Leela Capital Pvt.Ltd.

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Cosmic PV Power Ltd. Address

E-11, First Floor,

Ghael Compound, Nr. Laxminarayan Temple BRTS,

Udhna

Surat, Gujarat, 394210

85116 18802
compliance@cosmicpvpower.com
Visit Website

IPO FAQs

What is the Cosmic PV Power IPO?

Cosmic PV Power IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹640 Crores. The issue is priced at To be declared. The minimum order quantity is .

The Cosmic PV Power IPO open and close dates are not available as of now.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

How to apply in Cosmic PV Power IPO through Angel One?

Angel One customers can apply online in Cosmic PV Power IPO using UPI as a payment gateway. Angel One customers can apply in Cosmic PV Power IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Cosmic PV Power IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Cosmic PV Power IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

When Cosmic PV Power IPO will open?

The Cosmic PV Power IPO dates are not announced. Please check back again after some time.

What is the lot size of Cosmic PV Power IPO?

Cosmic PV Power IPO lot size and the minimum order quantity is not available at this time. Please check again later.

How to apply for Cosmic PV Power IPO?

You can apply in Cosmic PV Power 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 Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Cosmic PV Power IPO allotment?

The finalization of Basis of Allotment for Cosmic PV Power IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Cosmic PV Power IPO allotment status.

When is Cosmic PV Power IPO listing date ?

The Cosmic PV Power IPO listing date is not yet announced. The tentative date of listing is .