Abans Holdings IPO vs Radiant Cash Management IPO

Comparision between Abans Holdings IPO and Radiant Cash Management IPO.

IPO Details

Abans Holdings IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Radiant Cash Management IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Abans Holdings IPO	Radiant Cash Management IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Aryaman Financial Services Limited	Iifl Securities Ltd Motilal Oswal Investment Advisors Limited Yes Securities (India) Limited
Registrar	Bigshare Services Pvt Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor		Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Abans Holdings IPO is up to ₹345.60 Cr whereas the issue size of the Radiant Cash Management IPO is up to ₹256.64 Cr. The final issue price of Abans Holdings IPO is ₹270.00 per share and of Radiant Cash Management IPO is ₹94.00 per share.

	Abans Holdings IPO	Radiant Cash Management IPO
Face Value	₹2 per share	₹1 per share
Issue Price (Lower)	₹256.00 per share	₹94.00 per share
Issue Price (Upper)	₹270.00 per share	₹99.00 per share
Issue Price (Final)	₹270.00 per share	₹94.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	55 shares	150 shares
Fresh Issue Size	38,00,000 shares	54,54,546 shares
Fresh Issue Size (Amount)	up to ₹102.60 Cr	up to ₹54.00 Cr
OFS Issue Size	90,00,000 shares	2,12,22,431 shares
OFS Issue Size (Amount)	up to ₹243.00 Cr	up to ₹202.64 Cr
Issue Size Total	1,28,00,000 shares	2,66,76,977 shares
Issue Size Total (Amount)	up to ₹345.60 Cr	up to ₹256.64 Cr

IPO Timetable

Abans Holdings IPO opens on Dec 12, 2022, while Radiant Cash Management IPO opens on Dec 23, 2022. The closing date of Abans Holdings IPO and Radiant Cash Management IPO is Dec 15, 2022, and Dec 27, 2022, respectively.

	Abans Holdings IPO	Radiant Cash Management IPO
Anchor Bid Date	Dec 09, 2022	Dec 22, 2022
Issue Open	Dec 12, 2022	Dec 23, 2022
Issue Close	Dec 15, 2022	Dec 27, 2022
Basis Of Allotment (Tentative)	Dec 20, 2022	Dec 30, 2022
Initiation of Refunds (Tentative)	Dec 21, 2022	Jan 02, 2023
Credit of Share (Tentative)	Dec 22, 2022	Jan 03, 2023
Listing date (Tentative)	Dec 23, 2022	Jan 04, 2023
Anchor Lockin End date 1	Jan 19, 2023	Jan 29, 2023
Anchor Lockin End date 2	Mar 20, 2023	Mar 30, 2023

Financials

Abans Holdings IPO P/E ratio is 18.96, as compared to Radiant Cash Management IPO P/E ratio of 17.34.

Abans Holdings IPO

Radiant Cash Management IPO

Financial

Abans Holdings Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	1212.98	2771.88	39.22	499.55	318.79
31-Mar-21	1181.51	1331.37	45.8	561.95	267.39
31-Mar-22	1168.69	646.23	61.97	631.11	85.9
31-Aug-22	1230.72	288.31	29.74	678.17	76.92
Amount in ₹ Crore

Radiant Cash Management Services Limited Financial Information (Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-19	141.44	223.13	25.02	105.72	17.73
31-Mar-20	157.62	251.78	36.5	119.57	21.13
31-Mar-21	162.14	224.16	32.43	127.1	11.05
31-Mar-22	190.57	286.97	38.21	139.76	26.75
30-Jun-22	203.95	84.38	15.32	155.19	25.54
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

97.42%

66.39%

Promoter Shareholding (Post-Issue)

72.09%

53.21%

P/E Ratio

18.96

17.34

Market Cap

₹1353.94 Cr.

₹1062.41 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Abans Holdings IPO retail investors (RII) are offered 76,80,000 shares while in Radiant Cash Management IPO retail investors are offered 76,80,000 shares. Qualified institutional buyers (QIB) are offered 12,80,000 shares in Abans Holdings IPO and 78,37,121 shares in Radiant Cash Management IPO.

	Abans Holdings IPO	Radiant Cash Management IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	12,80,000 shares	78,37,121 shares
NII	38,40,000 shares	58,77,841 shares
RII	76,80,000 shares	1,37,14,963 shares
Employee	0 shares	0 shares
Others
Total	1,28,00,000 shares	2,74,29,925 shares

Bids Received (Subscription)

Abans Holdings IPO subscribed 1.10x in total, whereas Radiant Cash Management IPO subscribed 0.53x.

	Abans Holdings IPO	Radiant Cash Management IPO
QIB (times)	4.10x	1.01x
NII (times)	1.48x	0.66x
Big NII (times)	2.15x	0.94x
Small NII (times)	0.13x	0.09x
RII (times)	0.40x	0.21x
Employee (times)
Other (times)
Total (times)	1.10x	0.53x

Compare with others

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Radiant Cash Management IPO	Divgi TorqTransfer Systems IPO
KFin Technologies IPO	Signatureglobal India IPO
Sah Polymers IPO	KFin Technologies IPO
Elin Electronics IPO	Abans Holdings IPO
Sula Vineyards IPO	Sah Polymers IPO
Dharmaj Crop Guard IPO	Elin Electronics IPO
Landmark Cars IPO	Sula Vineyards IPO

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