Comrade Appliances IPO vs Sahana System IPO

Comparision between Comrade Appliances IPO and Sahana System IPO.

IPO Details

Comrade Appliances IPO is a SME Book Built Issue IPO proposed to list at BSE SME while Sahana System IPO is a SME Book Built Issue proposed to list at NSE SME.

	Comrade Appliances IPO	Sahana System IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE SME	NSE SME
Lead Managers	Gretex Corporate Services Limited	Unistone Capital Pvt Ltd Interactive Financial Services Ltd
Registrar	Bigshare Services Pvt Ltd	Purva Sharegistry India Pvt Ltd
Market Maker	Gretex Share Broking Private Limited	Rikhav Securities Limited
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 Comrade Appliances IPO is up to ₹12.30 Cr whereas the issue size of the Sahana System IPO is up to ₹32.74 Cr. The final issue price of Comrade Appliances IPO is ₹54.00 per share and of Sahana System IPO is ₹135.00 per share.

	Comrade Appliances IPO	Sahana System IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹52.00 per share	₹132.00 per share
Issue Price (Upper)	₹54.00 per share	₹135.00 per share
Issue Price (Final)	₹54.00 per share	₹135.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	1000 shares
Fresh Issue Size	22,78,000 shares	24,25,000 shares
Fresh Issue Size (Amount)	up to ₹12.30 Cr	up to ₹32.74 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	22,78,000 shares	24,25,000 shares
Issue Size Total (Amount)	up to ₹12.30 Cr	up to ₹32.74 Cr

IPO Timetable

Comrade Appliances IPO opens on May 31, 2023, while Sahana System IPO opens on May 31, 2023. The closing date of Comrade Appliances IPO and Sahana System IPO is Jun 05, 2023, and Jun 02, 2023, respectively.

	Comrade Appliances IPO	Sahana System IPO
Anchor Bid Date	May 30, 2023
Issue Open	May 31, 2023	May 31, 2023
Issue Close	Jun 05, 2023	Jun 02, 2023
Basis Of Allotment (Tentative)	Jun 08, 2023	Jun 07, 2023
Initiation of Refunds (Tentative)	Jun 09, 2023	Jun 08, 2023
Credit of Share (Tentative)	Jun 12, 2023	Jun 09, 2023
Listing date (Tentative)	Jun 13, 2023	Jun 12, 2023
Anchor Lockin End date 1	Jul 08, 2023	Jul 07, 2023
Anchor Lockin End date 2	Sep 06, 2023	Sep 05, 2023

Financials

Comrade Appliances IPO P/E ratio is 17.14, as compared to Sahana System IPO P/E ratio of 16.88.

Comrade Appliances IPO

Sahana System IPO

Financial

Comrade Appliances Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	1,678.98	2,162.29	41.80	293.40	-38.97	400.93
31-Mar-21	3,140.65	2,603.85	20.21	241.77	-90.60	1,412.38
31-Mar-22	2,527.31	2,973.28	38.75	502.43	-14.87	1,113.79
31-Mar-23	2,753.18	2,699.43	163.57	689.41	164.33	1,766.48
Amount in ₹ Lakhs

Sahana System Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-21	772.93	331.47	16.44	17.44	16.44	723.25
31-Mar-22	1,498.91	1,217.39	141.18	452.06	142.53	512.59
31-Mar-23	2,417.82	2,414.23	639.64	1,079.71	522.56	477.04
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00%

90.25%

Promoter Shareholding (Post-Issue)

69.74%

P/E Ratio

17.14

16.88

Market Cap

₹40.66 Cr.

₹107.95 Cr.

ROE

0.27%%

83.52%%

ROCE

0.16%%

61.05%%

Debt/Equity

1.96

0.44

EPS

₹3.15

₹11.48

RoNW

23.73%%

59.24%%

Shares Offered

In the Comrade Appliances IPO retail investors (RII) are offered 7,58,000 shares while in Sahana System IPO retail investors are offered 7,58,000 shares. Qualified institutional buyers (QIB) are offered 4,32,000 shares in Comrade Appliances IPO and 2,30,000 shares in Sahana System IPO.

	Comrade Appliances IPO	Sahana System IPO
Anchor Investor Reserveration	6,48,000 shares
Market Maker Reserveration	1,14,000 shares	1,25,000 shares
QIB	4,32,000 shares	2,30,000 shares
NII	3,26,000 shares	10,35,000 shares
RII	7,58,000 shares	10,35,000 shares
Employee	0 shares	0 shares
Others
Total	15,16,000 shares	23,00,000 shares

Bids Received (Subscription)

Comrade Appliances IPO subscribed 77.25x in total, whereas Sahana System IPO subscribed 9.99x.

	Comrade Appliances IPO	Sahana System IPO
QIB (times)	21.86x	9.70x
NII (times)	162.67x	7.07x
Big NII (times)
Small NII (times)
RII (times)	72.08x	12.97x
Employee (times)
Other (times)
Total (times)	77.25x	9.99x

Compare with others

Comrade Appliances IPO	Sahana System IPO
Cosmic CRF IPO	Bizotic Commercial IPO
Sonalis Consumer Products IPO	Urban Enviro Waste Management IPO
Kore Digital IPO	Cosmic CRF IPO
Sahana System IPO	Sonalis Consumer Products IPO
CFF Fluid Control IPO	Kore Digital IPO
Infollion Research Services IPO	CFF Fluid Control IPO
Proventus Agrocom IPO	Comrade Appliances IPO
Hemant Surgical Industries IPO	Infollion Research Services IPO
Vasa Denticity IPO	Proventus Agrocom IPO
Spectrum Talent Management IPO	Hemant Surgical Industries IPO

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