United Heat Transfer IPO vs Usha Financial Services IPO

Comparision between United Heat Transfer IPO and Usha Financial Services IPO.

IPO Details

United Heat Transfer IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Usha Financial Services IPO is a SME Book Built Issue proposed to list at NSE SME.

	United Heat Transfer IPO	Usha Financial Services IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Swastika Investmart Ltd	Narnolia Financial Services Ltd Unistone Capital Pvt Ltd
Registrar	Link Intime India Private Ltd	Skyline Financial Services Private Ltd
Market Maker	Swastika Investmart Limited	Ss Corporate Securities 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 United Heat Transfer IPO is up to ₹30.00 Cr whereas the issue size of the Usha Financial Services IPO is up to ₹98.45 Cr. The final issue price of United Heat Transfer IPO is ₹59.00 per share and of Usha Financial Services IPO is ₹168.00 per share.

	United Heat Transfer IPO	Usha Financial Services IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹56.00 per share	₹160.00 per share
Issue Price (Upper)	₹59.00 per share	₹168.00 per share
Issue Price (Final)	₹59.00 per share	₹168.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	800 shares
Fresh Issue Size	50,84,000 shares	58,60,000 shares
Fresh Issue Size (Amount)	up to ₹30.00 Cr	up to ₹98.45 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	50,84,000 shares	58,60,000 shares
Issue Size Total (Amount)	up to ₹30.00 Cr	up to ₹98.45 Cr

IPO Timetable

United Heat Transfer IPO opens on Oct 22, 2024, while Usha Financial Services IPO opens on Oct 24, 2024. The closing date of United Heat Transfer IPO and Usha Financial Services IPO is Oct 24, 2024, and Oct 28, 2024, respectively.

	United Heat Transfer IPO	Usha Financial Services IPO
Anchor Bid Date	Oct 21, 2024	Oct 23, 2024
Issue Open	Oct 22, 2024	Oct 24, 2024
Issue Close	Oct 24, 2024	Oct 28, 2024
Basis Of Allotment (Tentative)	Oct 25, 2024	Oct 29, 2024
Initiation of Refunds (Tentative)	Oct 28, 2024	Oct 30, 2024
Credit of Share (Tentative)	Oct 28, 2024	Oct 30, 2024
Listing date (Tentative)	Oct 29, 2024	Oct 31, 2024
Anchor Lockin End date 1	Nov 23, 2024	Nov 28, 2024
Anchor Lockin End date 2	Jan 22, 2025	Jan 27, 2025

Financials

United Heat Transfer IPO P/E ratio is 13.16, as compared to Usha Financial Services IPO P/E ratio of 19.83.

United Heat Transfer IPO

Usha Financial Services IPO

Financial

United Heat Transfer Limited Financial Information (Restated)

United Heat Transfer Limited's revenue decreased by -9% and profit after tax (PAT) rose by 195% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Jul 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	7,230.03	7,046.67	6,481.52	6,262.36
Revenue	2,120.01	6,409.55	7,040.15	4,796.11
Profit After Tax	242.53	623.85	211.54	152.67
Net Worth	2,865.24	2,037.71	1,413.86	1,202.32
Reserves and Surplus	1,473.24	762.71	988.86	777.32
Total Borrowing	3,202.13	3,692.18	3,295.18	3,761.47
Amount in ₹ Lakhs

Usha Financial Services Limited Financial Information (Restated)

Usha Financial Services Limited's revenue increased by 38% and profit after tax (PAT) rose by 32% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	35,133.66	33,585.81	37,222.64	16,428.07
Revenue	2,681.26	6,396.05	4,618.73	2,531.36
Profit After Tax	504.16	1,344.95	1,016.55	414.42
Net Worth	11,106.79	10,602.63	8,207.38	4,767.58
Reserves and Surplus	9,519.03	9,014.87	7,265.57	4,109.41
Total Borrowing	18,861.94	18,128.22	24,751.41	9,723.22
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

91.59%

98.91%

Promoter Shareholding (Post-Issue)

67.09%

72.24%

P/E Ratio

13.16

19.83

Market Cap

₹112.12 Cr.

₹365.19 Cr.

ROE

8.46%%

9.29%%

ROCE

10.79%%

12.02%%

Debt/Equity

1.12

1.7

EPS

₹4.48

₹8.47

RoNW

8.46%%

9.29%%

Shares Offered

In the United Heat Transfer IPO retail investors (RII) are offered 16,92,000 shares while in Usha Financial Services IPO retail investors are offered 16,92,000 shares. Qualified institutional buyers (QIB) are offered 9,74,000 shares in United Heat Transfer IPO and 11,08,000 shares in Usha Financial Services IPO.

	United Heat Transfer IPO	Usha Financial Services IPO
Anchor Investor Reserveration	14,34,000 shares	16,60,800 shares
Market Maker Reserveration	2,56,000 shares	3,20,800 shares
QIB	9,74,000 shares	11,08,000 shares
NII	7,28,000 shares	8,31,200 shares
RII	16,92,000 shares	19,39,200 shares
Employee	0 shares	0 shares
Others
Total	33,94,000 shares	38,78,400 shares

Bids Received (Subscription)

United Heat Transfer IPO subscribed 83.70x in total, whereas Usha Financial Services IPO subscribed 19.37x.

	United Heat Transfer IPO	Usha Financial Services IPO
QIB (times)	26.56x	10.04x
NII (times)	124.72x	28.55x
Big NII (times)
Small NII (times)
RII (times)	98.93x	20.76x
Employee (times)
Other (times)
Total (times)	83.70x	19.37x

Compare with others

United Heat Transfer IPO	Usha Financial Services IPO
Onyx Biotec IPO	Neelam Linens and Garments IPO
Mangal Compusolution IPO	OBSC Perfection IPO
Rosmerta Digital Services IPO	United Heat Transfer IPO
Neelam Linens and Garments IPO	Danish Power IPO
OBSC Perfection IPO	Premium Plast IPO
Danish Power IPO	Freshara Agro Exports IPO
Premium Plast IPO	Lakshya Powertech IPO
Usha Financial Services IPO	Pranik Logistics IPO
Freshara Agro Exports IPO	Shiv Texchem IPO
Lakshya Powertech IPO	Khyati Global Ventures IPO

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