Cellecor Gadgets IPO vs Madhusudan Masala IPO

Comparision between Cellecor Gadgets IPO and Madhusudan Masala IPO.

IPO Details

Cellecor Gadgets IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Madhusudan Masala IPO is a SME Book Built Issue proposed to list at NSE SME.

	Cellecor Gadgets IPO	Madhusudan Masala IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Narnolia Financial Services Ltd	Hem Securities Limited
Registrar	Skyline Financial Services Private Ltd	Kfin Technologies Limited
Market Maker	Ss Corporate Securities Limited	Hem Finlease Private Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Cellecor Gadgets IPO is up to ₹50.77 Cr whereas the issue size of the Madhusudan Masala IPO is up to ₹23.80 Cr. The final issue price of Cellecor Gadgets IPO is ₹92.00 per share and of Madhusudan Masala IPO is ₹70.00 per share.

	Cellecor Gadgets IPO	Madhusudan Masala IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹87.00 per share	₹66.00 per share
Issue Price (Upper)	₹92.00 per share	₹70.00 per share
Issue Price (Final)	₹92.00 per share	₹70.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	2000 shares
Fresh Issue Size	55,18,800 shares	34,00,000 shares
Fresh Issue Size (Amount)	up to ₹50.77 Cr	up to ₹23.80 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	55,18,800 shares	34,00,000 shares
Issue Size Total (Amount)	up to ₹50.77 Cr	up to ₹23.80 Cr

IPO Timetable

Cellecor Gadgets IPO opens on Sep 15, 2023, while Madhusudan Masala IPO opens on Sep 18, 2023. The closing date of Cellecor Gadgets IPO and Madhusudan Masala IPO is Sep 20, 2023, and Sep 21, 2023, respectively.

	Cellecor Gadgets IPO	Madhusudan Masala IPO
Anchor Bid Date	Sep 14, 2023	Sep 15, 2023
Issue Open	Sep 15, 2023	Sep 18, 2023
Issue Close	Sep 20, 2023	Sep 21, 2023
Basis Of Allotment (Tentative)	Sep 25, 2023	Sep 26, 2023
Initiation of Refunds (Tentative)	Sep 26, 2023	Sep 27, 2023
Credit of Share (Tentative)	Sep 27, 2023	Sep 29, 2023
Listing date (Tentative)	Sep 28, 2023	Sep 26, 2023
Anchor Lockin End date 1	Oct 25, 2023	Oct 26, 2023
Anchor Lockin End date 2	Dec 24, 2023	Dec 25, 2023

Financials

Cellecor Gadgets IPO P/E ratio is 13.45, as compared to Madhusudan Masala IPO P/E ratio of 10.08.

Cellecor Gadgets IPO

Madhusudan Masala IPO

Financial

Cellecor Gadgets IPO Financial Information (Restated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	10.00	2,367.23	7,002.52
Revenue	0.00	12,128.99	26,436.56
Profit After Tax	-2.42	213.56	797.07
Net Worth	7.58	221.14	1,381.26
Reserves and Surplus	-2.42	211.14	1,369.94
Total Borrowing		121.75	2,084.38

Amount in ₹ Lakhs

Madhusudan Masala IPO Financial Information (Restated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	2,599.90	3,514.29	5,736.52
Revenue	6,875.18	6,651.81	12,750.57
Profit After Tax	44.98	81.29	575.89
Net Worth	1,094.09	31.07	1,099.10
Reserves and Surplus		30.07	599.10
Total Borrowing	966.40	2,819.53	4,217.20

Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

69.95%

100.00%

Promoter Shareholding (Post-Issue)

51.54%

73.64%

P/E Ratio

13.45

10.08

Market Cap

₹192.90 Cr.

₹90.30 Cr.

ROE

57.71%%

101.91%%

ROCE

63.88%%

20.08%%

Debt/Equity

1.51

3.84

EPS

₹6.84

₹6.94

RoNW

57.71%%

52.40%%

Shares Offered

In the Cellecor Gadgets IPO retail investors (RII) are offered 18,34,800 shares while in Madhusudan Masala IPO retail investors are offered 18,34,800 shares. Qualified institutional buyers (QIB) are offered 10,48,800 shares in Cellecor Gadgets IPO and 6,46,000 shares in Madhusudan Masala IPO.

	Cellecor Gadgets IPO	Madhusudan Masala IPO
Anchor Investor Reserveration	15,72,000 shares	9,66,000 shares
Market Maker Reserveration	2,76,000 shares	1,72,000 shares
QIB	10,48,800 shares	6,46,000 shares
NII	7,87,200 shares	4,86,000 shares
RII	18,34,800 shares	11,30,000 shares
Employee	0 shares	0 shares
Others
Total	36,70,800 shares	22,62,000 shares

Bids Received (Subscription)

Cellecor Gadgets IPO subscribed 116.33x in total, whereas Madhusudan Masala IPO subscribed 444.27x.

	Cellecor Gadgets IPO	Madhusudan Masala IPO
QIB (times)	57.58x	86.91x
NII (times)	176.54x	574.08x
Big NII (times)
Small NII (times)
RII (times)	124.08x	592.73x
Employee (times)
Other (times)
Total (times)	116.33x	444.27x

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Madhusudan Masala IPO	Digikore Studios IPO
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