RNFI Services IPO vs Tunwal E-Motors IPO

Comparision between RNFI Services IPO and Tunwal E-Motors IPO.

IPO Details

RNFI Services IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Tunwal E-Motors IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	RNFI Services IPO	Tunwal E-Motors IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Fixed Price Issue
Listing At	NSE SME	NSE SME
Lead Managers	Choice Capital Advisors Pvt Ltd	Horizon Management Private Limited
Registrar	Skyline Financial Services Private Ltd	Skyline Financial Services Private Ltd
Market Maker	Choice Equity Broking Private Limited	Nikunj Stock Brokers 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 RNFI Services IPO is up to ₹70.81 Cr whereas the issue size of the Tunwal E-Motors IPO is up to ₹115.64 Cr. The final issue price of RNFI Services IPO is ₹105.00 per share and of Tunwal E-Motors IPO is ₹59.00 per share.

	RNFI Services IPO	Tunwal E-Motors IPO
Face Value	₹10 per share	₹2 per share
Issue Price (Lower)	₹98.00 per share
Issue Price (Upper)	₹105.00 per share
Issue Price (Final)	₹105.00 per share	₹59.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	2000 shares
Fresh Issue Size	67,44,000 shares	1,38,50,000 shares
Fresh Issue Size (Amount)	up to ₹70.81 Cr	up to ₹81.72 Cr
OFS Issue Size		57,50,000 shares
OFS Issue Size (Amount)		up to ₹33.93 Cr
Issue Size Total	67,44,000 shares	1,96,00,000 shares
Issue Size Total (Amount)	up to ₹70.81 Cr	up to ₹115.64 Cr

IPO Timetable

RNFI Services IPO opens on Jul 22, 2024, while Tunwal E-Motors IPO opens on Jul 15, 2024. The closing date of RNFI Services IPO and Tunwal E-Motors IPO is Jul 24, 2024, and Jul 18, 2024, respectively.

	RNFI Services IPO	Tunwal E-Motors IPO
Anchor Bid Date	Jul 19, 2024
Issue Open	Jul 22, 2024	Jul 15, 2024
Issue Close	Jul 24, 2024	Jul 18, 2024
Basis Of Allotment (Tentative)	Jul 25, 2024	Jul 19, 2024
Initiation of Refunds (Tentative)	Jul 26, 2024	Jul 22, 2024
Credit of Share (Tentative)	Jul 26, 2024	Jul 22, 2024
Listing date (Tentative)	Jul 29, 2024	Jul 23, 2024
Anchor Lockin End date 1	Aug 24, 2024
Anchor Lockin End date 2	Oct 23, 2024

Financials

RNFI Services IPO P/E ratio is 19.19, as compared to Tunwal E-Motors IPO P/E ratio of 20.71.

RNFI Services IPO

Tunwal E-Motors IPO

Financial

RNFI Services Limited Financial Information (Restated Consolidated)

RNFI Services Limited's revenue decreased by -11.81% and profit after tax (PAT) rose by 103.82% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	19,051.38	12,526.71	11,661.34
Revenue	94,305.10	106,939.62	19,079.93
Profit After Tax	996.07	488.71	555.03
Net Worth	3,159.90	2,041.64	1,330.24
Reserves and Surplus	1,350.86	2,043.47	1,332.07
Total Borrowing	3,638.87	2,118.75	1,264.05
Amount in ₹ Lakhs

Tunwal E-Motors Limited Financial Information (Restated)

Tunwal E-Motors Limited's revenue increased by 37.85% and profit after tax (PAT) rose by 217.11% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	7,582.97	5,694.49	5,037.44
Revenue	10,553.69	7,655.74	7,566.42
Profit After Tax	1,181.17	372.48	233.94
Net Worth	2,053.08	821.91	424.43
Reserves and Surplus	1,224.06	409.40	321.55
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

89.53%

97.04%

Promoter Shareholding (Post-Issue)

62.34%

P/E Ratio

19.19

20.71

Market Cap

₹262.00 Cr.

₹326.28 Cr.

ROE

57.53%%

ROCE

29.74%%

59.38%%

Debt/Equity

1.02

EPS

₹5.47

₹2.85

RoNW

40.92%%

57.53%%

Shares Offered

In the RNFI Services IPO retail investors (RII) are offered 22,26,000 shares while in Tunwal E-Motors IPO retail investors are offered 22,26,000 shares. Qualified institutional buyers (QIB) are offered 12,72,000 shares in RNFI Services IPO and 0 shares in Tunwal E-Motors IPO.

	RNFI Services IPO	Tunwal E-Motors IPO
Anchor Investor Reserveration	19,08,000 shares
Market Maker Reserveration	3,84,000 shares	9,80,000 shares
QIB	12,72,000 shares	0 shares
NII	9,54,000 shares	93,10,000 shares
RII	22,26,000 shares	93,10,000 shares
Employee	0 shares	0 shares
Others
Total	44,52,000 shares	1,86,20,000 shares

Bids Received (Subscription)

RNFI Services IPO subscribed 221.49x in total, whereas Tunwal E-Motors IPO subscribed 12.31x.

	RNFI Services IPO	Tunwal E-Motors IPO
QIB (times)	140.66x
NII (times)	513.31x	7.61x
Big NII (times)
Small NII (times)
RII (times)	142.62x	16.64x
Employee (times)
Other (times)
Total (times)	221.49x	12.31x

Compare with others

RNFI Services IPO	Tunwal E-Motors IPO
Manglam Infra And Engineering IPO	V.L.Infraprojects IPO
Chetana Education IPO	RNFI Services IPO
Clinitech Laboratory IPO	Macobs Technologies IPO
VVIP Infratech IPO	Kataria Industries IPO
V.L.Infraprojects IPO	SAR Televenture FPO
Macobs Technologies IPO	Three M Paper Boards IPO
Kataria Industries IPO	Prizor Viztech IPO
SAR Televenture FPO	Sati Poly Plast IPO
Tunwal E-Motors IPO	Sahaj Solar IPO
Three M Paper Boards IPO	Aelea Commodities IPO

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