Birdy's IPO vs Varyaa Creations IPO

Comparision between Birdy's IPO and Varyaa Creations IPO.

IPO Details

Birdy's IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Varyaa Creations IPO is a SME Fixed Price Issue proposed to list at BSE SME.

	Birdy's IPO	Varyaa Creations IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Fixed Price Issue
Listing At	NSE SME	BSE SME
Lead Managers	Inventure Merchant Banker Services Pvt Ltd	Inventure Merchant Banker Services Pvt Ltd
Registrar	Bigshare Services Pvt Ltd	Bigshare Services Pvt Ltd
Market Maker	Rikhav Securities Limited	Svcm Securities Private Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Birdy's IPO is up to ₹16.47 Cr whereas the issue size of the Varyaa Creations IPO is up to ₹20.10 Cr. The final issue price of Birdy's IPO is ₹120.00 per share and of Varyaa Creations IPO is ₹150.00 per share.

	Birdy's IPO	Varyaa Creations IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹120.00 per share	₹150.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	1000 shares
Fresh Issue Size	13,72,800 shares	13,40,000 shares
Fresh Issue Size (Amount)	up to ₹16.47 Cr	up to ₹20.10 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	13,72,800 shares	13,40,000 shares
Issue Size Total (Amount)	up to ₹16.47 Cr	up to ₹20.10 Cr

IPO Timetable

Birdy's IPO opens on Apr 15, 2024, while Varyaa Creations IPO opens on Apr 22, 2024. The closing date of Birdy's IPO and Varyaa Creations IPO is Apr 18, 2024, and Apr 25, 2024, respectively.

	Birdy's IPO	Varyaa Creations IPO
Anchor Bid Date
Issue Open	Apr 15, 2024	Apr 22, 2024
Issue Close	Apr 18, 2024	Apr 25, 2024
Basis Of Allotment (Tentative)	Apr 19, 2024	Apr 26, 2024
Initiation of Refunds (Tentative)	Apr 22, 2024	Apr 29, 2024
Credit of Share (Tentative)	Apr 22, 2024	Apr 29, 2024
Listing date (Tentative)	Apr 23, 2024	Apr 30, 2024
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials

Birdy's IPO P/E ratio is 23.12, as compared to Varyaa Creations IPO P/E ratio of 65.56.

Birdy's IPO

Varyaa Creations IPO

Financial

Grill Splendour Services Limited Financial Information (Restated)

Grill Splendour Services Limited's revenue increased by 32.92% and profit after tax (PAT) rose by 5654.34% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Nov 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	2,211.54	764.02	290.59	265.98
Revenue	885.64	1,531.62	1,152.27	825.22
Profit After Tax	61.65	199.10	3.46	-3.63
Net Worth	494.98	200.79	1.69	-1.77
Reserves and Surplus	111.44	199.79	0.69	-2.77
Amount in ₹ Lakhs

Varyaa Creations Limited Financial Information (Restated)

Varyaa Creations Limited's revenue increased by 112.55% and profit after tax (PAT) rose by 36.13% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,049.17	2,000.55	143.78	218.32
Revenue	1,762.49	538.03	253.13	12.05
Profit After Tax	351.11	78.93	57.98	-13.06
Net Worth	410.56	59.45	-19.47	-77.46
Reserves and Surplus	65.56	44.45	-34.47	-92.46
Total Borrowing			44.81	283.82
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

49.75%

100.00%

Promoter Shareholding (Post-Issue)

36.64%

72.02%

P/E Ratio

23.12

65.56

Market Cap

₹62.50 Cr.

₹71.85 Cr.

ROE

85.52%%

ROCE

114.57%%

Debt/Equity

1.5

EPS

₹5.19

₹2.29

RoNW

12.46%%

85.52%%

Shares Offered

In the Birdy's IPO retail investors (RII) are offered 6,51,600 shares while in Varyaa Creations IPO retail investors are offered 6,51,600 shares. Qualified institutional buyers (QIB) are offered 0 shares in Birdy's IPO and 0 shares in Varyaa Creations IPO.

	Birdy's IPO	Varyaa Creations IPO
Anchor Investor Reserveration
Market Maker Reserveration	69,600 shares	70,000 shares
QIB	0 shares	0 shares
NII	6,51,600 shares	6,35,000 shares
RII	6,51,600 shares	6,35,000 shares
Employee	0 shares	0 shares
Others
Total	13,03,200 shares	12,70,000 shares

Bids Received (Subscription)

Birdy's IPO subscribed 8.68x in total, whereas Varyaa Creations IPO subscribed 3.59x.

	Birdy's IPO	Varyaa Creations IPO
QIB (times)
NII (times)	4.59x	1.08x
Big NII (times)
Small NII (times)
RII (times)	12.78x	6.09x
Employee (times)
Other (times)
Total (times)	8.68x	3.59x

Compare with others

Birdy's IPO	Varyaa Creations IPO
ABS Marine Services IPO	Amkay Products IPO
Shivam Chemicals IPO	Storage Technologies Racks and Rollers IPO
Varyaa Creations IPO	Mandeep Auto Industries IPO
Faalcon Concepts IPO	ABS Marine Services IPO
Emmforce Autotech IPO	Shivam Chemicals IPO
Greenhitech Ventures IPO	Faalcon Concepts IPO
Finelistings Technologies IPO	Emmforce Autotech IPO
Ramdevbaba Solvent IPO	Birdy's IPO
Teerth Gopicon IPO	Greenhitech Ventures IPO
DCG Cables & Wires IPO	Finelistings Technologies IPO

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