Inox Green Energy IPO vs Sula Vineyards IPO

Comparision between Inox Green Energy IPO and Sula Vineyards IPO.

IPO Details

Inox Green Energy IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Sula Vineyards IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Inox Green Energy IPO	Sula Vineyards IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Edelweiss Financial Services Ltd Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Equirus Capital Private Limited Idbi Capital Market Services Limited Systematix Corporate Services Limited	Kotak Mahindra Capital Company Limited Clsa India Private Limited Iifl Securities Ltd
Registrar	Link Intime India Private Ltd	Kfin Technologies Limited
Market Maker
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 Inox Green Energy IPO is up to ₹740.00 Cr whereas the issue size of the Sula Vineyards IPO is up to ₹960.35 Cr. The final issue price of Inox Green Energy IPO is ₹65.00 per share and of Sula Vineyards IPO is ₹357.00 per share.

	Inox Green Energy IPO	Sula Vineyards IPO
Face Value	₹10 per share	₹2 per share
Issue Price (Lower)	₹61.00 per share	₹340.00 per share
Issue Price (Upper)	₹65.00 per share	₹357.00 per share
Issue Price (Final)	₹65.00 per share	₹357.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	230 shares	42 shares
Fresh Issue Size	5,69,23,077 shares
Fresh Issue Size (Amount)	up to ₹370.00 Cr
OFS Issue Size	5,69,23,077 shares	2,69,00,530 shares
OFS Issue Size (Amount)	up to ₹370.00 Cr	up to ₹960.35 Cr
Issue Size Total	11,38,46,154 shares	2,69,00,530 shares
Issue Size Total (Amount)	up to ₹740.00 Cr	up to ₹960.35 Cr

IPO Timetable

Inox Green Energy IPO opens on Nov 11, 2022, while Sula Vineyards IPO opens on Dec 12, 2022. The closing date of Inox Green Energy IPO and Sula Vineyards IPO is Nov 15, 2022, and Dec 14, 2022, respectively.

	Inox Green Energy IPO	Sula Vineyards IPO
Anchor Bid Date		Dec 09, 2022
Issue Open	Nov 11, 2022	Dec 12, 2022
Issue Close	Nov 15, 2022	Dec 14, 2022
Basis Of Allotment (Tentative)	Nov 18, 2022	Dec 19, 2022
Initiation of Refunds (Tentative)	Nov 21, 2022	Dec 20, 2022
Credit of Share (Tentative)	Nov 22, 2022	Dec 21, 2022
Listing date (Tentative)	Nov 23, 2022	Dec 22, 2022
Anchor Lockin End date 1	Dec 18, 2022	Jan 18, 2023
Anchor Lockin End date 2	Feb 16, 2023	Mar 19, 2023

Financials

Inox Green Energy IPO P/E ratio is -327, as compared to Sula Vineyards IPO P/E ratio of 49.24.

Inox Green Energy IPO

Sula Vineyards IPO

Financial

Inox Green Energy Services Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	2339.86	172.16	1.68	96.54	1084.92
31-Mar-21	2692.8	186.29	-27.73	42.96	1411.02
31-Mar-22	2120.65	190.23	-4.95	806.63	904.17
30-Jun-22	2127.74	63.16	-11.58	795	909.92
Amount in ₹ Crore

Sula Vineyards Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	831.04	523.21	-15.94	299.95	368.24
31-Mar-21	751.6	421.53	3.01	304.74	301.26
30-Sep-21	717.55	160.46	4.53	344.32	262.45
31-Mar-22	758.56	456.7	52.14	395.26	228.93
30-Sep-22	770.95	225.76	30.51	449.18	214.64
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

93.84%

28.44%

Promoter Shareholding (Post-Issue)

56.04%

27.33%

P/E Ratio

-327

49.24

Market Cap

₹1897.61 Cr.

₹3005.90 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Inox Green Energy IPO retail investors (RII) are offered 1,21,31,147 shares while in Sula Vineyards IPO retail investors are offered 1,21,31,147 shares. Qualified institutional buyers (QIB) are offered 3,63,93,442 shares in Inox Green Energy IPO and 53,80,106 shares in Sula Vineyards IPO.

	Inox Green Energy IPO	Sula Vineyards IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	3,63,93,442 shares	53,80,106 shares
NII	1,81,96,721 shares	40,35,080 shares
RII	1,21,31,147 shares	94,15,186 shares
Employee	0 shares	0 shares
Others
Total	6,67,21,310 shares	1,88,30,372 shares

Bids Received (Subscription)

Inox Green Energy IPO subscribed 1.55x in total, whereas Sula Vineyards IPO subscribed 2.33x.

	Inox Green Energy IPO	Sula Vineyards IPO
QIB (times)	1.05x	4.13x
NII (times)	0.47x	1.51x
Big NII (times)	0.39x	1.69x
Small NII (times)	0.64x	1.15x
RII (times)	4.70x	1.65x
Employee (times)
Other (times)
Total (times)	1.55x	2.33x

Compare with others

Inox Green Energy IPO	Sula Vineyards IPO
Elin Electronics IPO	Radiant Cash Management IPO
Sula Vineyards IPO	KFin Technologies IPO
Dharmaj Crop Guard IPO	Abans Holdings IPO
Landmark Cars IPO	Sah Polymers IPO
Keystone Realtors IPO	Elin Electronics IPO
Archean Chemical IPO	Dharmaj Crop Guard IPO
Bikaji Foods IPO	Landmark Cars IPO
Fusion Micro Finance IPO	Keystone Realtors IPO
Global Health IPO	Inox Green Energy IPO
Five Star Business Finance IPO	Archean Chemical IPO

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