Mamaearth IPO vs Protean eGov Technologies IPO

Comparision between Mamaearth IPO and Protean eGov Technologies IPO.

IPO Details

Mamaearth IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Protean eGov Technologies IPO is a Mainline Book Built Issue proposed to list at BSE.

	Mamaearth IPO	Protean eGov Technologies IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE
Lead Managers	Kotak Mahindra Capital Company Limited Citigroup Global Markets India Private Limited Jm Financial Limited J.P. Morgan India Private Limited	ICICI Securities Limited Equirus Capital Private Limited Iifl Securities Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd
Registrar	Kfin Technologies Limited	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 Mamaearth IPO is up to ₹1,701.44 Cr whereas the issue size of the Protean eGov Technologies IPO is up to ₹490.33 Cr. The final issue price of Mamaearth IPO is ₹324.00 per share and of Protean eGov Technologies IPO is ₹792.00 per share.

	Mamaearth IPO	Protean eGov Technologies IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹308.00 per share	₹752.00 per share
Issue Price (Upper)	₹324.00 per share	₹792.00 per share
Issue Price (Final)	₹324.00 per share	₹792.00 per share
Discount (Retail)
Discount (Employee)	₹30.00 per share	₹75.00 per share
Market Lot Size	46 shares	18 shares
Fresh Issue Size	1,12,68,580 shares
Fresh Issue Size (Amount)	up to ₹365.00 Cr
OFS Issue Size	4,12,48,162 shares	61,91,000 shares
OFS Issue Size (Amount)	up to ₹1,336.40 Cr	up to ₹490.33 Cr
Issue Size Total	5,25,16,742 shares	61,91,000 shares
Issue Size Total (Amount)	up to ₹1,701.44 Cr	up to ₹490.33 Cr

IPO Timetable

Mamaearth IPO opens on Oct 31, 2023, while Protean eGov Technologies IPO opens on Nov 06, 2023. The closing date of Mamaearth IPO and Protean eGov Technologies IPO is Nov 02, 2023, and Nov 08, 2023, respectively.

	Mamaearth IPO	Protean eGov Technologies IPO
Anchor Bid Date	Oct 30, 2023	Nov 03, 2023
Issue Open	Oct 31, 2023	Nov 06, 2023
Issue Close	Nov 02, 2023	Nov 08, 2023
Basis Of Allotment (Tentative)	Nov 06, 2023	Nov 13, 2023
Initiation of Refunds (Tentative)	Nov 06, 2023	Nov 15, 2023
Credit of Share (Tentative)	Nov 06, 2023	Nov 16, 2023
Listing date (Tentative)	Nov 07, 2023	Nov 13, 2023
Anchor Lockin End date 1	Dec 06, 2023	Dec 13, 2023
Anchor Lockin End date 2	Feb 04, 2024	Feb 11, 2024

Financials

Mamaearth IPO P/E ratio is , as compared to Protean eGov Technologies IPO P/E ratio of 29.91.

Mamaearth IPO

Protean eGov Technologies IPO

Financial

Honasa Consumer Limited Financial Information (Restated Consolidated)

Honasa Consumer Limited's revenue increased by 57.13% and profit after tax (PAT) dropped by -1145.25% 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	1,048.03	966.42	1,035.01	302.64
Revenue	477.10	1,515.27	964.35	472.10
Profit After Tax	24.72	-150.97	14.44	-1,324.61
Net Worth	638.26	605.90	705.62	-1,765.14
Reserves and Surplus	-1,290.94	-1,323.32	-1,087.33
Total Borrowing	6.79	3.61	3.59
Amount in ₹ Crore

Protean eGov Technologies Limited Financial Information (Restated Consolidated)

Protean eGov Technologies Limited's revenue increased by 1.78% and profit after tax (PAT) dropped by -25.63% 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	1,133.86	1,104.10	988.14	862.39
Revenue	233.17	783.87	770.18	652.03
Profit After Tax	32.21	107.04	143.94	92.19
Net Worth	888.10	856.94	788.00	667.46
Reserves and Surplus	847.48	816.33	747.43	627.14
Total Borrowing
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

37.41%

Promoter Shareholding (Post-Issue)

35.34%

P/E Ratio

29.91

Market Cap

₹10425.00 Cr.

₹3203.38 Cr.

ROE

12.49%%

ROCE

16.13%%

Debt/Equity

EPS

₹4.66

₹26.48

RoNW

-23.57%%

12.49%%

Shares Offered

In the Mamaearth IPO retail investors (RII) are offered 52,48,272 shares while in Protean eGov Technologies IPO retail investors are offered 52,48,272 shares. Qualified institutional buyers (QIB) are offered 1,57,44,820 shares in Mamaearth IPO and 12,08,200 shares in Protean eGov Technologies IPO.

	Mamaearth IPO	Protean eGov Technologies IPO
Anchor Investor Reserveration	2,36,17,228 shares	18,12,300 shares
Market Maker Reserveration
QIB	1,57,44,820 shares	12,08,200 shares
NII	78,72,409 shares	9,06,150 shares
RII	52,48,272 shares	21,14,350 shares
Employee	34,013 shares	1,50,000 shares
Others
Total	2,88,99,514 shares	43,78,700 shares

Bids Received (Subscription)

Mamaearth IPO subscribed 7.61x in total, whereas Protean eGov Technologies IPO subscribed 23.86x.

	Mamaearth IPO	Protean eGov Technologies IPO
QIB (times)	11.50x	46.94x
NII (times)	4.02x	31.62x
Big NII (times)	4.85x	33.14x
Small NII (times)	2.36x	28.58x
RII (times)	1.35x	8.93x
Employee (times)	4.88x	1.49x
Other (times)
Total (times)	7.61x	23.86x

Compare with others

Mamaearth IPO	Protean eGov Technologies IPO
Fedbank Financial Services IPO	ASK Automotive IPO
Gandhar Oil Refinery India IPO	ESAF Small Finance Bank IPO
ASK Automotive IPO	Cello World Limited IPO
ESAF Small Finance Bank IPO	Mamaearth IPO
Cello World Limited IPO	Blue Jet Healthcare IPO
Blue Jet Healthcare IPO	IRM Energy IPO
Protean eGov Technologies IPO	Saraswati Saree Depot IPO
IRM Energy IPO	Plaza Wires IPO
Saraswati Saree Depot IPO	Updater Services IPO
Plaza Wires IPO	Valiant Laboratories IPO

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