Shanti Spintex IPO vs Siyaram Recycling IPO

Comparision between Shanti Spintex IPO and Siyaram Recycling IPO.

IPO Details

Shanti Spintex IPO is a SME Book Built Issue IPO proposed to list at BSE SME while Siyaram Recycling IPO is a SME Book Built Issue proposed to list at BSE SME.

	Shanti Spintex IPO	Siyaram Recycling IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE SME	BSE SME
Lead Managers	Hem Securities Limited	Hem Securities Limited
Registrar	Kfin Technologies Limited	Cameo Corporate Services Limited
Market Maker	Hem Finlease Private Limited	Hem Finlease Private Limited
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 Shanti Spintex IPO is up to ₹31.25 Cr whereas the issue size of the Siyaram Recycling IPO is up to ₹22.96 Cr. The final issue price of Shanti Spintex IPO is ₹70.00 per share and of Siyaram Recycling IPO is ₹46.00 per share.

	Shanti Spintex IPO	Siyaram Recycling IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹66.00 per share	₹43.00 per share
Issue Price (Upper)	₹70.00 per share	₹46.00 per share
Issue Price (Final)	₹70.00 per share	₹46.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	3000 shares
Fresh Issue Size	26,88,000 shares	49,92,000 shares
Fresh Issue Size (Amount)	up to ₹18.82 Cr	up to ₹22.96 Cr
OFS Issue Size	17,76,000 shares
OFS Issue Size (Amount)	up to ₹12.43 Cr
Issue Size Total	44,64,000 shares	49,92,000 shares
Issue Size Total (Amount)	up to ₹31.25 Cr	up to ₹22.96 Cr

IPO Timetable

Shanti Spintex IPO opens on Dec 19, 2023, while Siyaram Recycling IPO opens on Dec 14, 2023. The closing date of Shanti Spintex IPO and Siyaram Recycling IPO is Dec 21, 2023, and Dec 18, 2023, respectively.

	Shanti Spintex IPO	Siyaram Recycling IPO
Anchor Bid Date
Issue Open	Dec 19, 2023	Dec 14, 2023
Issue Close	Dec 21, 2023	Dec 18, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 19, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 20, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 20, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 21, 2023
Anchor Lockin End date 1	Jan 21, 2024	Jan 18, 2024
Anchor Lockin End date 2	Mar 21, 2024	Mar 18, 2024

Financials

Shanti Spintex IPO P/E ratio is 9.82, as compared to Siyaram Recycling IPO P/E ratio of 8.3.

Shanti Spintex IPO

Siyaram Recycling IPO

Financial

Shanti Spintex Limited Financial Information (Restated)

Shanti Spintex Limited's revenue increased by 45.23% and profit after tax (PAT) rose by 108.14% 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	17,457.31	17,588.33	13,631.33	11,926.82
Revenue	16,237.63	37,071.27	25,526.51	11,293.73
Profit After Tax	523.75	1,012.81	486.59	337.53
Net Worth	6,122.31	5,603.93	4,622.73	4,136.14
Reserves and Surplus	4,702.31	4,893.93	3,912.73	3,426.14
Total Borrowing	3,474.45	4,177.66	4,868.64	4,278.83
Amount in ₹ Lakhs

Siyaram Recycling Industries Limited Financial Information (Restated)

Siyaram Recycling Industries Limited's revenue increased by 16.75% and profit after tax (PAT) rose by 137.36% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	15,136.31	9,851.35	9,823.59
Revenue	49,786.27	42,644.34	13,972.93
Profit After Tax	765.42	322.47	142.28
Net Worth	4,642.12	3,876.71	3,554.23
Reserves and Surplus	3,261.57	2,496.16	2,173.68
Total Borrowing	6,706.95	2,821.02	2,931.72
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

87.49%

100%

Promoter Shareholding (Post-Issue)

73.57%

P/E Ratio

9.82

8.3

Market Cap

₹118.22 Cr.

₹86.47 Cr.

ROE

19.81%%

17.97%%

ROCE

10.12%%

13.42%%

Debt/Equity

0.75

1.44

EPS

₹7.13

₹5.54

RoNW

18.07%%

16.49%%

Shares Offered

In the Shanti Spintex IPO retail investors (RII) are offered 14,84,000 shares while in Siyaram Recycling IPO retail investors are offered 14,84,000 shares. Qualified institutional buyers (QIB) are offered 8,48,000 shares in Shanti Spintex IPO and 9,48,000 shares in Siyaram Recycling IPO.

	Shanti Spintex IPO	Siyaram Recycling IPO
Anchor Investor Reserveration	12,72,000 shares	14,22,000 shares
Market Maker Reserveration	2,24,000 shares	2,52,000 shares
QIB	8,48,000 shares	9,48,000 shares
NII	6,36,000 shares	7,11,000 shares
RII	14,84,000 shares	16,59,000 shares
Employee	0 shares	0 shares
Others
Total	29,68,000 shares	33,18,000 shares

Bids Received (Subscription)

Shanti Spintex IPO subscribed 27.38x in total, whereas Siyaram Recycling IPO subscribed 385.19x.

	Shanti Spintex IPO	Siyaram Recycling IPO
QIB (times)	14.34x	96.43x
NII (times)	57.28x	597.72x
Big NII (times)
Small NII (times)
RII (times)	22.01x	459.11x
Employee (times)
Other (times)
Total (times)	27.38x	385.19x

Compare with others

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Siyaram Recycling IPO	Supreme Power Equipment IPO
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Marinetrans India IPO	Shree OSFM E-Mobility IPO
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Net Avenue Technologies IPO	Accent Microcell IPO
Deepak Chemtex IPO	Marinetrans India IPO
Swashthik Plascon IPO	Shanti Spintex IPO

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