Envirotech Systems IPO vs SPP Polymer IPO

Comparision between Envirotech Systems IPO and SPP Polymer IPO.

IPO Details

Envirotech Systems IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while SPP Polymer IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Envirotech Systems IPO	SPP Polymer 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	Share India Capital Services Private Limited	Interactive Financial Services Ltd
Registrar	Bigshare Services Pvt Ltd	Kfin Technologies Limited
Market Maker	Share India Securities Limited	B.N. Rathi Securities Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor
IPO Allotment URL		IPO Allotment URL

Issue Size and Price

The total issue size of Envirotech Systems IPO is up to ₹30.24 Cr whereas the issue size of the SPP Polymer IPO is up to ₹24.49 Cr. The final issue price of Envirotech Systems IPO is ₹56.00 per share and of SPP Polymer IPO is ₹59.00 per share.

	Envirotech Systems IPO	SPP Polymer IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹53.00 per share
Issue Price (Upper)	₹56.00 per share
Issue Price (Final)	₹56.00 per share	₹59.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	2000 shares
Fresh Issue Size	54,00,000 shares	41,50,000 shares
Fresh Issue Size (Amount)	up to ₹30.24 Cr	up to ₹24.49 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	54,00,000 shares	41,50,000 shares
Issue Size Total (Amount)	up to ₹30.24 Cr	up to ₹24.49 Cr

IPO Timetable

Envirotech Systems IPO opens on Sep 13, 2024, while SPP Polymer IPO opens on Sep 10, 2024. The closing date of Envirotech Systems IPO and SPP Polymer IPO is Sep 19, 2024, and Sep 12, 2024, respectively.

	Envirotech Systems IPO	SPP Polymer IPO
Anchor Bid Date	Sep 12, 2024
Issue Open	Sep 13, 2024	Sep 10, 2024
Issue Close	Sep 19, 2024	Sep 12, 2024
Basis Of Allotment (Tentative)	Sep 20, 2024	Sep 13, 2024
Initiation of Refunds (Tentative)	Sep 23, 2024	Sep 16, 2024
Credit of Share (Tentative)	Sep 23, 2024	Sep 16, 2024
Listing date (Tentative)	Sep 24, 2024	Sep 17, 2024
Anchor Lockin End date 1	Oct 19, 2024
Anchor Lockin End date 2	Dec 18, 2024

Financials

Envirotech Systems IPO P/E ratio is 6.56, as compared to SPP Polymer IPO P/E ratio of 66.72.

Envirotech Systems IPO

SPP Polymer IPO

Financial

Envirotech Systems Limited Financial Information (Restated)

Envirotech Systems Limited's revenue increased by 63% and profit after tax (PAT) rose by 344% 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	3,867.47	2,275.73	1,386.51
Revenue	4,687.95	2,874.78	1,849.54
Profit After Tax	1,142.88	257.34	105.73
Net Worth	1,960.62	661.73	404.4
Reserves and Surplus	621.62	611.73	354.4
Total Borrowing	240.5	260.67	276.61
Amount in ₹ Lakhs

SPP Polimers Limited Financial Information (Restated Consolidated)

SPP Polimers Limited's revenue increased by 40% and profit after tax (PAT) rose by 83% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	7,619.39	7,091.89	5,417.98	3,821.87
Revenue	2,895.85	9,381.29	6,677.47	8,077.96
Profit After Tax	91.33	99.4	54.42	28.01
Net Worth	2,591.64	2,500.3	2,433.64	1,971.82
Reserves and Surplus	1,500.27	1,408.93	2,152.61	1,697.22
Total Borrowing	1,871.94	1,897.82	2,215.18	1,262.21
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

96.48%

94.99%

Promoter Shareholding (Post-Issue)

68.75%

69.37%

P/E Ratio

6.56

66.72

Market Cap

₹105.22 Cr.

₹90.81 Cr.

ROE

58.29%%

8.01%%

ROCE

62.43%%

4.27%%

Debt/Equity

0.71

EPS

₹8.54

₹0.88

RoNW

58.29%%

3.98%%

Shares Offered

In the Envirotech Systems IPO retail investors (RII) are offered 16,46,000 shares while in SPP Polymer IPO retail investors are offered 16,46,000 shares. Qualified institutional buyers (QIB) are offered 9,40,000 shares in Envirotech Systems IPO and 0 shares in SPP Polymer IPO.

	Envirotech Systems IPO	SPP Polymer IPO
Anchor Investor Reserveration	14,06,000 shares
Market Maker Reserveration	7,02,000 shares	2,10,000 shares
QIB	9,40,000 shares	0 shares
NII	7,06,000 shares	19,70,000 shares
RII	16,46,000 shares	19,70,000 shares
Employee	0 shares	0 shares
Others
Total	32,92,000 shares	39,40,000 shares

Bids Received (Subscription)

Envirotech Systems IPO subscribed 14.13x in total, whereas SPP Polymer IPO subscribed 43.29x.

	Envirotech Systems IPO	SPP Polymer IPO
QIB (times)	3.07x
NII (times)	8.11x	22.35x
Big NII (times)
Small NII (times)
RII (times)	23.03x	59.87x
Employee (times)
Other (times)
Total (times)	14.13x	43.29x

Compare with others

Envirotech Systems IPO	SPP Polymer IPO
Osel Devices IPO	Deccan Transcon Leasing IPO
Paramount Speciality Forgings IPO	Envirotech Systems IPO
Popular Foundations IPO	Trafiksol ITS Technologies IPO
Sodhani Academy of Fintech Enablers IPO	Gajanand International IPO
Deccan Transcon Leasing IPO	Innomet Advanced Materials IPO
Trafiksol ITS Technologies IPO	Share Samadhan IPO
Gajanand International IPO	Shubhshree Biofuels Energy IPO
Innomet Advanced Materials IPO	Aditya Ultra Steel IPO
SPP Polymer IPO	Vision Infra Equipment Solutions IPO
Share Samadhan IPO	Naturewings Holidays IPO

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