Chavda Infra IPO vs Madhusudan Masala IPO

Comparision between Chavda Infra IPO and Madhusudan Masala IPO.

IPO Details

Chavda Infra 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.

	Chavda Infra 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	Beeline Capital Advisors Pvt Ltd	Hem Securities Limited
Registrar	Kfin Technologies Limited	Kfin Technologies Limited
Market Maker	Spread X Securities Private 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 Chavda Infra IPO is up to ₹43.26 Cr whereas the issue size of the Madhusudan Masala IPO is up to ₹23.80 Cr. The final issue price of Chavda Infra IPO is ₹65.00 per share and of Madhusudan Masala IPO is ₹70.00 per share.

	Chavda Infra IPO	Madhusudan Masala IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹60.00 per share	₹66.00 per share
Issue Price (Upper)	₹65.00 per share	₹70.00 per share
Issue Price (Final)	₹65.00 per share	₹70.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	2000 shares
Fresh Issue Size	66,56,000 shares	34,00,000 shares
Fresh Issue Size (Amount)	up to ₹43.26 Cr	up to ₹23.80 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	66,56,000 shares	34,00,000 shares
Issue Size Total (Amount)	up to ₹43.26 Cr	up to ₹23.80 Cr

IPO Timetable

Chavda Infra IPO opens on Sep 12, 2023, while Madhusudan Masala IPO opens on Sep 18, 2023. The closing date of Chavda Infra IPO and Madhusudan Masala IPO is Sep 14, 2023, and Sep 21, 2023, respectively.

	Chavda Infra IPO	Madhusudan Masala IPO
Anchor Bid Date	Sep 11, 2023	Sep 15, 2023
Issue Open	Sep 12, 2023	Sep 18, 2023
Issue Close	Sep 14, 2023	Sep 21, 2023
Basis Of Allotment (Tentative)	Sep 20, 2023	Sep 26, 2023
Initiation of Refunds (Tentative)	Sep 21, 2023	Sep 27, 2023
Credit of Share (Tentative)	Sep 22, 2023	Sep 29, 2023
Listing date (Tentative)	Sep 25, 2023	Sep 26, 2023
Anchor Lockin End date 1	Oct 20, 2023	Oct 26, 2023
Anchor Lockin End date 2	Dec 19, 2023	Dec 25, 2023

Financials

Chavda Infra IPO P/E ratio is 9.72, as compared to Madhusudan Masala IPO P/E ratio of 10.08.

Chavda Infra IPO

Madhusudan Masala IPO

Financial

Chavda Infra IPO Financial Information (Restated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	8,668.11	10,880.79	15,424.40
Revenue	9,131.05	10,987.68	16,203.37
Profit After Tax	443.84	521.46	1,204.62
Net Worth	1,314.28	1,835.74	3,040.36
Reserves and Surplus	1,164.28	1,685.74	1,240.36
Total Borrowing	3,330.32	4,993.14	5,328.95

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)

100.00%

Promoter Shareholding (Post-Issue)

73%

73.64%

P/E Ratio

9.72

10.08

Market Cap

₹160.26 Cr.

₹90.30 Cr.

ROE

49.41%%

101.91%%

ROCE

43.62%%

20.08%%

Debt/Equity

1.75

3.84

EPS

₹6.69

₹6.94

RoNW

39.62%%

52.40%%

Shares Offered

In the Chavda Infra IPO retail investors (RII) are offered 22,12,000 shares while in Madhusudan Masala IPO retail investors are offered 22,12,000 shares. Qualified institutional buyers (QIB) are offered 12,64,000 shares in Chavda Infra IPO and 6,46,000 shares in Madhusudan Masala IPO.

	Chavda Infra IPO	Madhusudan Masala IPO
Anchor Investor Reserveration	18,96,000 shares	9,66,000 shares
Market Maker Reserveration	3,36,000 shares	1,72,000 shares
QIB	12,64,000 shares	6,46,000 shares
NII	9,48,000 shares	4,86,000 shares
RII	22,12,000 shares	11,30,000 shares
Employee	0 shares	0 shares
Others
Total	44,24,000 shares	22,62,000 shares

Bids Received (Subscription)

Chavda Infra IPO subscribed 180.06x in total, whereas Madhusudan Masala IPO subscribed 444.27x.

	Chavda Infra IPO	Madhusudan Masala IPO
QIB (times)	95.10x	86.91x
NII (times)	241.96x	574.08x
Big NII (times)
Small NII (times)
RII (times)	202.07x	592.73x
Employee (times)
Other (times)
Total (times)	180.06x	444.27x

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