Flair Writing IPO vs IREDA IPO

Comparision between Flair Writing IPO and IREDA IPO.

IPO Details

Flair Writing IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while IREDA IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Flair Writing IPO	IREDA 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	Nuvama Wealth Management Limited Axis Capital Limited	Idbi Capital Market Services Limited Bob Capital Markets Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
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 Flair Writing IPO is up to ₹593.00 Cr whereas the issue size of the IREDA IPO is up to ₹2,150.21 Cr. The final issue price of Flair Writing IPO is ₹304.00 per share and of IREDA IPO is ₹32.00 per share.

	Flair Writing IPO	IREDA IPO
Face Value	₹5 per share	₹10 per share
Issue Price (Lower)	₹288.00 per share	₹30.00 per share
Issue Price (Upper)	₹304.00 per share	₹32.00 per share
Issue Price (Final)	₹304.00 per share	₹32.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	49 shares	460 shares
Fresh Issue Size	96,05,263 shares	40,31,64,706 shares
Fresh Issue Size (Amount)	up to ₹292.00 Cr	up to ₹1,290.13 Cr
OFS Issue Size	99,01,315 shares	26,87,76,471 shares
OFS Issue Size (Amount)	up to ₹301.00 Cr	up to ₹860.08 Cr
Issue Size Total	1,95,06,578 shares	67,19,41,177 shares
Issue Size Total (Amount)	up to ₹593.00 Cr	up to ₹2,150.21 Cr

IPO Timetable

Flair Writing IPO opens on Nov 22, 2023, while IREDA IPO opens on Nov 21, 2023. The closing date of Flair Writing IPO and IREDA IPO is Nov 24, 2023, and Nov 23, 2023, respectively.

	Flair Writing IPO	IREDA IPO
Anchor Bid Date	Nov 21, 2023	Nov 20, 2023
Issue Open	Nov 22, 2023	Nov 21, 2023
Issue Close	Nov 24, 2023	Nov 23, 2023
Basis Of Allotment (Tentative)	Nov 29, 2023	Nov 24, 2023
Initiation of Refunds (Tentative)	Nov 30, 2023	Nov 25, 2023
Credit of Share (Tentative)	Nov 30, 2023	Nov 28, 2023
Listing date (Tentative)	Dec 01, 2023	Nov 29, 2023
Anchor Lockin End date 1	Dec 29, 2023	Dec 24, 2023
Anchor Lockin End date 2	Feb 27, 2024	Feb 22, 2024

Financials

Flair Writing IPO P/E ratio is 23.36, as compared to IREDA IPO P/E ratio of 8.47.

Flair Writing IPO

IREDA IPO

Financial

Flair Writing Industries Limited Financial Information (Restated Consolidated)

Flair Writing Industries Limited's revenue increased by 62.39% and profit after tax (PAT) rose by 114.14% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	765.04	684.18	557.49	480.66
Revenue	248.50	954.29	587.64	310.87
Profit After Tax	32.14	118.10	55.15	0.99
Net Worth	470.16	437.99	319.86	264.65
Reserves and Surplus	423.46	391.29	296.50	241.31
Total Borrowing	126.67	115.59	126.33	130.31
Amount in ₹ Crore

Indian Renewable Energy Development Agency Limited Financial Information (Restated Standalone)

Indian Renewable Energy Development Agency Limited's revenue increased by 21.18% and profit after tax (PAT) rose by 36.48% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	51,208.36	50,446.98	36,708.41	30,293.39
Revenue	2,320.46	3,483.04	2,874.16	2,657.74
Profit After Tax	579.32	864.63	633.53	346.38
Net Worth	6,580.61	5,935.17	5,268.11	2,995.60
Reserves and Surplus	2,550.36	2,310.96	1,776.05	1,386.12
Total Borrowing	39,850.19	40,165.23	27,613.07	24,000.00
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

97.49%

100%

Promoter Shareholding (Post-Issue)

79.21%

75%

P/E Ratio

23.36

8.47

Market Cap

₹3204.00 Cr.

₹8600.85 Cr.

ROE

31.17%%

15.44%%

ROCE

31.24%%

Debt/Equity

0.26

6.77

EPS

₹12.33

₹3.78

RoNW

31.17%%

15.44%%

Shares Offered

In the Flair Writing IPO retail investors (RII) are offered 68,27,302 shares while in IREDA IPO retail investors are offered 68,27,302 shares. Qualified institutional buyers (QIB) are offered 39,01,316 shares in Flair Writing IPO and 13,40,13,152 shares in IREDA IPO.

	Flair Writing IPO	IREDA IPO
Anchor Investor Reserveration	58,51,972 shares	20,10,19,726 shares
Market Maker Reserveration
QIB	39,01,316 shares	13,40,13,152 shares
NII	29,25,987 shares	10,05,09,864 shares
RII	68,27,302 shares	23,45,23,015 shares
Employee	0 shares	18,75,420 shares
Others
Total	1,36,54,605 shares	47,09,21,451 shares

Bids Received (Subscription)

Flair Writing IPO subscribed 49.28x in total, whereas IREDA IPO subscribed 38.80x.

	Flair Writing IPO	IREDA IPO
QIB (times)	122.02x	104.57x
NII (times)	35.23x	24.16x
Big NII (times)	36.53x	26.99x
Small NII (times)	32.61x	18.50x
RII (times)	13.73x	7.73x
Employee (times)		9.80x
Other (times)
Total (times)	49.28x	38.80x

Compare with others

Flair Writing IPO	IREDA IPO
Mukka Proteins IPO	Happy Forgings IPO
Happy Forgings IPO	Muthoot Microfin IPO
Muthoot Microfin IPO	DOMS IPO
DOMS IPO	Allied Blenders IPO
Allied Blenders IPO	Flair Writing IPO
IREDA IPO	Fedbank Financial Services IPO
Fedbank Financial Services IPO	Gandhar Oil Refinery India IPO
Gandhar Oil Refinery India IPO	ASK Automotive IPO
ASK Automotive IPO	ESAF Small Finance Bank IPO
ESAF Small Finance Bank IPO	Cello World Limited IPO

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