Forge Auto International IPO vs HVAX Technologies IPO

Comparision between Forge Auto International IPO and HVAX Technologies IPO.

IPO Details

Forge Auto International IPO is a SME Book Built Issue IPO proposed to list at NSE SME while HVAX Technologies IPO is a SME Book Built Issue proposed to list at NSE SME.

	Forge Auto International IPO	HVAX Technologies 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	Hem Securities Limited	Fedex Securities�Pvt Ltd
Registrar	Bigshare Services Pvt Ltd	Kfin Technologies Limited
Market Maker	Hem Finlease Private Limited	Aftertrade Broking Pvt Ltd
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 Forge Auto International IPO is up to ₹31.10 Cr whereas the issue size of the HVAX Technologies IPO is up to ₹33.53 Cr. The final issue price of Forge Auto International IPO is ₹108.00 per share and of HVAX Technologies IPO is ₹458.00 per share.

	Forge Auto International IPO	HVAX Technologies IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹102.00 per share	₹435.00 per share
Issue Price (Upper)	₹108.00 per share	₹458.00 per share
Issue Price (Final)	₹108.00 per share	₹458.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	300 shares
Fresh Issue Size	28,80,000 shares	7,32,000 shares
Fresh Issue Size (Amount)	up to ₹31.10 Cr	up to ₹33.53 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	28,80,000 shares	7,32,000 shares
Issue Size Total (Amount)	up to ₹31.10 Cr	up to ₹33.53 Cr

IPO Timetable

Forge Auto International IPO opens on Sep 26, 2024, while HVAX Technologies IPO opens on Sep 27, 2024. The closing date of Forge Auto International IPO and HVAX Technologies IPO is Sep 30, 2024, and Oct 01, 2024, respectively.

	Forge Auto International IPO	HVAX Technologies IPO
Anchor Bid Date	Sep 25, 2024	Sep 26, 2024
Issue Open	Sep 26, 2024	Sep 27, 2024
Issue Close	Sep 30, 2024	Oct 01, 2024
Basis Of Allotment (Tentative)	Oct 01, 2024	Oct 03, 2024
Initiation of Refunds (Tentative)	Oct 03, 2024	Oct 04, 2024
Credit of Share (Tentative)	Oct 03, 2024	Oct 04, 2024
Listing date (Tentative)	Oct 04, 2024	Oct 07, 2024
Anchor Lockin End date 1	Oct 31, 2024	Nov 01, 2024
Anchor Lockin End date 2	Dec 30, 2024	Dec 31, 2024

Financials

Forge Auto International IPO P/E ratio is 12.98, as compared to HVAX Technologies IPO P/E ratio of 9.97.

Forge Auto International IPO

HVAX Technologies IPO

Financial

Forge Auto International Limited Financial Information (Restated)

Forge Auto International Limited's revenue increased by 2% and profit after tax (PAT) rose by 35% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	10,148.67	8,274.29	5,677.94
Revenue	18,157.3	17,764.43	13,400.28
Profit After Tax	668.88	496.29	264.34
Net Worth	2,020.88	1,660.35	1,367.73
Reserves and Surplus	1,276.88
Total Borrowing	4,046	3,183.2	2,620.16
Amount in ₹ Lakhs

HVAX Technologies Limited Financial Information (Restated)

HVAX Technologies Limited's revenue increased by 12% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	6,366.32	7,825.59	5,386.78
Revenue	10,746.99	9,613.86	6,879.13
Profit After Tax	939.07	520.37	418.15
Net Worth	3,059.83	1,720.77	1,200.4
Reserves and Surplus	2,991.67	1,659.08	1,138.71
Total Borrowing	2,437.29	1,692.21	1,010.03
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00%

90.50%

Promoter Shareholding (Post-Issue)

73.63%

66.65%

P/E Ratio

12.98

9.97

Market Cap

₹117.94 Cr.

₹127.18 Cr.

ROE

35.76%%

39.29%%

ROCE

17.60%%

25.17%%

Debt/Equity

1.94

0.8

EPS

₹8.32

₹45.92

RoNW

32.14%%

30.69%%

Shares Offered

In the Forge Auto International IPO retail investors (RII) are offered 9,57,600 shares while in HVAX Technologies IPO retail investors are offered 9,57,600 shares. Qualified institutional buyers (QIB) are offered 5,47,200 shares in Forge Auto International IPO and 1,38,000 shares in HVAX Technologies IPO.

	Forge Auto International IPO	HVAX Technologies IPO
Anchor Investor Reserveration	8,18,400 shares	2,07,000 shares
Market Maker Reserveration	1,46,400 shares	37,200 shares
QIB	5,47,200 shares	1,38,000 shares
NII	4,10,400 shares	1,05,300 shares
RII	9,57,600 shares	2,44,500 shares
Employee	0 shares	0 shares
Others
Total	19,15,200 shares	4,87,800 shares

Bids Received (Subscription)

Forge Auto International IPO subscribed 49.28x in total, whereas HVAX Technologies IPO subscribed 34.16x.

	Forge Auto International IPO	HVAX Technologies IPO
QIB (times)	20.13x	14.02x
NII (times)	58.55x	77.92x
Big NII (times)
Small NII (times)
RII (times)	61.95x	26.69x
Employee (times)
Other (times)
Total (times)	49.28x	34.16x

Compare with others

Forge Auto International IPO	HVAX Technologies IPO
NeoPolitan Pizza and Foods IPO	Shiv Texchem IPO
Subam Papers IPO	Khyati Global Ventures IPO
Paramount Dye Tec IPO	NeoPolitan Pizza and Foods IPO
HVAX Technologies IPO	Subam Papers IPO
Nexxus Petro Industries IPO	Paramount Dye Tec IPO
Sahasra Electronics Solutions IPO	Nexxus Petro Industries IPO
Saj Hotels IPO	Forge Auto International IPO
Thinking Hats Entertainment Solutions IPO	Sahasra Electronics Solutions IPO
Unilex Colours and Chemicals IPO	Saj Hotels IPO
TechEra Engineering IPO	Thinking Hats Entertainment Solutions IPO

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