Kundan Edifice IPO vs Madhusudan Masala IPO

Comparision between Kundan Edifice IPO and Madhusudan Masala IPO.

IPO Details

Kundan Edifice IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Madhusudan Masala IPO is a SME Book Built Issue proposed to list at NSE SME.

	Kundan Edifice IPO	Madhusudan Masala IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Fedex Securities�Pvt Ltd	Hem Securities Limited
Registrar	Cameo Corporate Services Limited	Kfin Technologies Limited
Market Maker	Gretex Share Broking Private Limited	Hem Finlease Private 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 Kundan Edifice IPO is up to ₹25.22 Cr whereas the issue size of the Madhusudan Masala IPO is up to ₹23.80 Cr. The final issue price of Kundan Edifice IPO is ₹91.00 per share and of Madhusudan Masala IPO is ₹70.00 per share.

	Kundan Edifice IPO	Madhusudan Masala IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹66.00 per share
Issue Price (Upper)		₹70.00 per share
Issue Price (Final)	₹91.00 per share	₹70.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	2000 shares
Fresh Issue Size	27,72,000 shares	34,00,000 shares
Fresh Issue Size (Amount)	up to ₹25.22 Cr	up to ₹23.80 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	27,72,000 shares	34,00,000 shares
Issue Size Total (Amount)	up to ₹25.22 Cr	up to ₹23.80 Cr

IPO Timetable

Kundan Edifice IPO opens on Sep 12, 2023, while Madhusudan Masala IPO opens on Sep 18, 2023. The closing date of Kundan Edifice IPO and Madhusudan Masala IPO is Sep 15, 2023, and Sep 21, 2023, respectively.

	Kundan Edifice IPO	Madhusudan Masala IPO
Anchor Bid Date		Sep 15, 2023
Issue Open	Sep 12, 2023	Sep 18, 2023
Issue Close	Sep 15, 2023	Sep 21, 2023
Basis Of Allotment (Tentative)	Sep 21, 2023	Sep 26, 2023
Initiation of Refunds (Tentative)	Sep 22, 2023	Sep 27, 2023
Credit of Share (Tentative)	Sep 25, 2023	Sep 29, 2023
Listing date (Tentative)	Sep 26, 2023	Sep 26, 2023
Anchor Lockin End date 1	Oct 21, 2023	Oct 26, 2023
Anchor Lockin End date 2	Dec 20, 2023	Dec 25, 2023

Financials

Kundan Edifice IPO P/E ratio is 13.3, as compared to Madhusudan Masala IPO P/E ratio of 10.08.

Kundan Edifice IPO

Madhusudan Masala IPO

Financial

Kundan Edifice IPO Financial Information (Restated)
Period Ended	31 Mar 2020	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	846.60	1,185.44	1,928.14	2,965.84
Revenue	649.70	1,522.43	3,250.60	6,046.36
Profit After Tax	4.05	77.22	167.82	513.09
Net Worth	27.68	129.90	297.72	810.81
Reserves and Surplus	-247.32	-170.10	-2.28	60.81
Total Borrowing	636.89	728.65	905.03	1,450.61

Amount in ₹ Lakhs

Madhusudan Masala IPO Financial Information (Restated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	2,599.90	3,514.29	5,736.52
Revenue	6,875.18	6,651.81	12,750.57
Profit After Tax	44.98	81.29	575.89
Net Worth	1,094.09	31.07	1,099.10
Reserves and Surplus		30.07	599.10
Total Borrowing	966.40	2,819.53	4,217.20

Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

99.00%

100.00%

Promoter Shareholding (Post-Issue)

72.28%

73.64%

P/E Ratio

13.3

10.08

Market Cap

₹93.48 Cr.

₹90.30 Cr.

ROE

63.28%%

101.91%%

ROCE

43.69%%

20.08%%

Debt/Equity

1.79

3.84

EPS

₹6.84

₹6.94

RoNW

63.28%%

52.40%%

Shares Offered

In the Kundan Edifice IPO retail investors (RII) are offered 13,15,200 shares while in Madhusudan Masala IPO retail investors are offered 13,15,200 shares. Qualified institutional buyers (QIB) are offered 0 shares in Kundan Edifice IPO and 6,46,000 shares in Madhusudan Masala IPO.

	Kundan Edifice IPO	Madhusudan Masala IPO
Anchor Investor Reserveration		9,66,000 shares
Market Maker Reserveration	1,41,600 shares	1,72,000 shares
QIB	0 shares	6,46,000 shares
NII	13,15,200 shares	4,86,000 shares
RII	13,15,200 shares	11,30,000 shares
Employee	0 shares	0 shares
Others
Total	26,30,400 shares	22,62,000 shares

Bids Received (Subscription)

Kundan Edifice IPO subscribed 42.27x in total, whereas Madhusudan Masala IPO subscribed 444.27x.

	Kundan Edifice IPO	Madhusudan Masala IPO
QIB (times)		86.91x
NII (times)	35.68x	574.08x
Big NII (times)
Small NII (times)
RII (times)	44.13x	592.73x
Employee (times)
Other (times)
Total (times)	42.27x	444.27x

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