Bright Solar IPO vs Ganga Forging (GFL) IPO

Comparision between Bright Solar IPO and Ganga Forging (GFL) IPO.

IPO Details

Bright Solar IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Ganga Forging (GFL) IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Bright Solar IPO	Ganga Forging (GFL) IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Fixed Price Issue
Listing At	NSE SME	NSE SME
Lead Managers	Swastika Investmart Ltd	Pantomath Capital Advisors Pvt Ltd
Registrar	Alankit Assignments Ltd	Link Intime India Private Ltd
Market Maker
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 Bright Solar IPO is up to ₹19.44 Cr whereas the issue size of the Ganga Forging (GFL) IPO is up to ₹5.00 Cr. The final issue price of Bright Solar IPO is ₹36.00 per share and of Ganga Forging (GFL) IPO is ₹21.00 per share.

	Bright Solar IPO	Ganga Forging (GFL) IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹36.00 per share	₹21.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	3000 shares	6000 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	54,00,000 shares	23,82,000 shares
Issue Size Total (Amount)	up to ₹19.44 Cr	up to ₹5.00 Cr

IPO Timetable

Bright Solar IPO opens on Jun 26, 2018, while Ganga Forging (GFL) IPO opens on Jun 29, 2018. The closing date of Bright Solar IPO and Ganga Forging (GFL) IPO is Jun 29, 2018, and Jul 03, 2018, respectively.

	Bright Solar IPO	Ganga Forging (GFL) IPO
Anchor Bid Date
Issue Open	Jun 26, 2018	Jun 29, 2018
Issue Close	Jun 29, 2018	Jul 03, 2018
Basis Of Allotment (Tentative)	Jul 04, 2018	Jul 06, 2018
Initiation of Refunds (Tentative)	Jul 06, 2018	Jul 09, 2018
Credit of Share (Tentative)	Jul 06, 2018	Jul 10, 2018
Listing date (Tentative)	Jul 09, 2018	Jul 11, 2018
Anchor Lockin End date 1	Aug 03, 2018	Aug 05, 2018
Anchor Lockin End date 2	Oct 02, 2018	Oct 04, 2018

Financials

Bright Solar IPO P/E ratio is , as compared to Ganga Forging (GFL) IPO P/E ratio of .

Bright Solar IPO

Ganga Forging (GFL) IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Lakhs)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	3,309.49	2,212.31	3,892.34	818.82	1,978.49
Total Revenue	1,812.99	1,547.06	4,784.25	2,846.13	2,239.93
Profit After Tax	171.11	70.53	196.87	54.29	38.02

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Lakhs)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	1,514.46	1,345.33	1,202.73	1,708.34	858.33
Total Revenue	1,779.17	1,769.45	1,557.19	1,695.99	1,556.93
Profit After Tax	48.49	25.26	46.58	60.74	32.12

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Bright Solar IPO retail investors (RII) are offered 25,65,000 shares while in Ganga Forging (GFL) IPO retail investors are offered 25,65,000 shares. Qualified institutional buyers (QIB) are offered 0 shares in Bright Solar IPO and 0 shares in Ganga Forging (GFL) IPO.

	Bright Solar IPO	Ganga Forging (GFL) IPO
Anchor Investor Reserveration
Market Maker Reserveration	2,70,000 shares	1,26,000 shares
QIB	0 shares	0 shares
NII	25,65,000 shares	11,28,000 shares
RII	25,65,000 shares	11,28,000 shares
Employee
Others
Total	54,00,000 shares	23,82,000 shares

Bids Received (Subscription)

Bright Solar IPO subscribed 1.85x in total, whereas Ganga Forging (GFL) IPO subscribed 1.78x.

	Bright Solar IPO	Ganga Forging (GFL) IPO
QIB (times)
NII (times)	2.21x	0.84x
Big NII (times)
Small NII (times)
RII (times)	1.49x	2.80x
Employee (times)
Other (times)		1.00x
Total (times)	1.85x	1.78x

Compare with others

Bright Solar IPO	Ganga Forging (GFL) IPO
Ambani Organics IPO	Avon Moldplast IPO
Ganesh Films IPO	Powerful Technologies IPO
Ganga Forging (GFL) IPO	Raw Edge Industrial Solutions IPO
Jakharia Fabric IPO	Ambani Organics IPO
Rajnish Wellness IPO	Ganesh Films IPO
Rudrabhishek Enterprises IPO	Jakharia Fabric IPO
Ushanti Colour Chem IPO	Rajnish Wellness IPO
Supreme Engineering IPO	Bright Solar IPO
Priti International IPO	Rudrabhishek Enterprises IPO
Accuracy Shipping IPO	Ushanti Colour Chem IPO

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