Maiden Forgings IPO vs Sancode Technologies IPO

Comparision between Maiden Forgings IPO and Sancode Technologies IPO.

IPO Details

Maiden Forgings IPO is a SME Fixed Price Issue IPO proposed to list at BSE SME while Sancode Technologies IPO is a SME Fixed Price Issue proposed to list at BSE SME.

	Maiden Forgings IPO	Sancode Technologies IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Fixed Price Issue
Listing At	BSE SME	BSE SME
Lead Managers	Share India Capital Services Private Limited	Shreni Shares Limited
Registrar	Maashitla Securities Private Limited	Bigshare Services Pvt Ltd
Market Maker	Share India Securities Limited	Shreni Shares Limited
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 Maiden Forgings IPO is up to ₹23.84 Cr whereas the issue size of the Sancode Technologies IPO is up to ₹5.15 Cr. The final issue price of Maiden Forgings IPO is ₹63.00 per share and of Sancode Technologies IPO is ₹47.00 per share.

	Maiden Forgings IPO	Sancode Technologies IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹60.00 per share
Issue Price (Upper)	₹63.00 per share
Issue Price (Final)	₹63.00 per share	₹47.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	3000 shares
Fresh Issue Size	37,84,000 shares	10,95,000 shares
Fresh Issue Size (Amount)	up to ₹23.84 Cr	up to ₹5.15 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	37,84,000 shares	10,95,000 shares
Issue Size Total (Amount)	up to ₹23.84 Cr	up to ₹5.15 Cr

IPO Timetable

Maiden Forgings IPO opens on Mar 23, 2023, while Sancode Technologies IPO opens on Mar 31, 2023. The closing date of Maiden Forgings IPO and Sancode Technologies IPO is Mar 27, 2023, and Apr 06, 2023, respectively.

	Maiden Forgings IPO	Sancode Technologies IPO
Anchor Bid Date	Mar 22, 2023
Issue Open	Mar 23, 2023	Mar 31, 2023
Issue Close	Mar 27, 2023	Apr 06, 2023
Basis Of Allotment (Tentative)	Mar 31, 2023	Apr 12, 2023
Initiation of Refunds (Tentative)	Apr 03, 2023	Apr 13, 2023
Credit of Share (Tentative)	Apr 05, 2023	Apr 17, 2023
Listing date (Tentative)	Apr 06, 2023	Apr 18, 2023
Anchor Lockin End date 1	Apr 30, 2023	May 12, 2023
Anchor Lockin End date 2	Jun 29, 2023	Jul 11, 2023

Financials

Maiden Forgings IPO P/E ratio is 8.38, as compared to Sancode Technologies IPO P/E ratio of 10.71.

Maiden Forgings IPO

Sancode Technologies IPO

Financial

Maiden Forgings Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	9,890.05	20,440.37	165.95	2,136.92	1,672.02	5,788.13
31-Mar-21	10,484.25	19,937.49	168.94	2,899.11	2,377.71	5,428.93
31-Mar-22	11,014.23	21,083.72	213.94	3,113.05	2,591.65	6,170.75
31-Dec-22	12,595.69	16,381.04	801.51	3,914.56	2,871.76	6,525.17
Amount in ₹ Lakhs

Sancode Technologies Limited Financial Information (Restated Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	330.45	43.08	-112.98	220.83	197.95	0.22
31-Mar-21	313.96	159.74	-26.17	223.56	200.69	63.73
31-Mar-22	349.87	244.81	75.12	287.07	264.19	20.76
30-Sep-22	481.26	180.62	89.36	367.54	344.67	21.20
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100%

97.47%

Promoter Shareholding (Post-Issue)

73.37%

71.24%

P/E Ratio

8.38

10.71

Market Cap

₹89.54 Cr.

₹19.12 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Maiden Forgings IPO retail investors (RII) are offered 22,64,000 shares while in Sancode Technologies IPO retail investors are offered 22,64,000 shares. Qualified institutional buyers (QIB) are offered 3,60,000 shares in Maiden Forgings IPO and 0 shares in Sancode Technologies IPO.

	Maiden Forgings IPO	Sancode Technologies IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,90,000 shares	57,000 shares
QIB	3,60,000 shares	0 shares
NII	9,70,000 shares	5,19,000 shares
RII	22,64,000 shares	5,19,000 shares
Employee	0 shares	0 shares
Others
Total	37,84,000 shares	10,38,000 shares

Bids Received (Subscription)

Maiden Forgings IPO subscribed 1.20x in total, whereas Sancode Technologies IPO subscribed 3.68x.

	Maiden Forgings IPO	Sancode Technologies IPO
QIB (times)	1.00x
NII (times)	1.42x	3.98x
Big NII (times)
Small NII (times)
RII (times)	1.12x	3.39x
Employee (times)
Other (times)
Total (times)	1.20x	3.68x

Compare with others

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Sancode Technologies IPO	De Neers Tools IPO
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Dev Labtech Venture IPO	Sotac Pharmaceuticals IPO
Nirman Agri Genetics IPO	MOS Utility IPO
Labelkraft Technologies IPO	Infinium Pharmachem IPO
VELS Film International IPO	Maiden Forgings IPO

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