Ishan International IPO vs Varanium Cloud IPO

Comparision between Ishan International IPO and Varanium Cloud IPO.

IPO Details

Ishan International IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Varanium Cloud IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Ishan International IPO	Varanium Cloud IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Fixed Price Issue
Listing At	NSE SME	NSE SME
Lead Managers	First Overseas Capital Limited	First Overseas Capital Limited
Registrar	Kfin Technologies Limited	Bigshare Services Pvt Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Ishan International IPO is up to ₹18.24 Cr whereas the issue size of the Varanium Cloud IPO is up to ₹36.60 Cr. The final issue price of Ishan International IPO is ₹80.00 per share and of Varanium Cloud IPO is ₹122.00 per share.

	Ishan International IPO	Varanium Cloud IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹80.00 per share	₹122.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1600 shares	1000 shares
Fresh Issue Size	22,80,000 shares	30,00,000 shares
Fresh Issue Size (Amount)	up to ₹18.24 Cr	up to ₹36.60 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	22,80,000 shares	30,00,000 shares
Issue Size Total (Amount)	up to ₹18.24 Cr	up to ₹36.60 Cr

IPO Timetable

Ishan International IPO opens on Sep 09, 2022, while Varanium Cloud IPO opens on Sep 16, 2022. The closing date of Ishan International IPO and Varanium Cloud IPO is Sep 14, 2022, and Sep 20, 2022, respectively.

	Ishan International IPO	Varanium Cloud IPO
Anchor Bid Date
Issue Open	Sep 09, 2022	Sep 16, 2022
Issue Close	Sep 14, 2022	Sep 20, 2022
Basis Of Allotment (Tentative)	Sep 19, 2022	Sep 23, 2022
Initiation of Refunds (Tentative)	Sep 20, 2022	Sep 26, 2022
Credit of Share (Tentative)	Sep 21, 2022	Sep 27, 2022
Listing date (Tentative)	Sep 22, 2022	Sep 27, 2022
Anchor Lockin End date 1	Oct 19, 2022	Oct 23, 2022
Anchor Lockin End date 2	Dec 18, 2022	Dec 22, 2022

Financials

Ishan International IPO P/E ratio is 38.09, as compared to Varanium Cloud IPO P/E ratio of 14.59.

Ishan International IPO

Varanium Cloud IPO

Financial

Ishan International Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-19	1530.53	2708.4	39.62	452.77	319.06
31-Mar-20	1704.15	2272.56	28.42	481.19	347.48
31-Mar-21	1452.52	2271.2	15.05	496.25	362.54
31-Mar-22	2168.87	2174.31	127.15	619.71	126.93
Amount in ₹ Lakhs

Varanium Cloud Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-20	765.39	12.44	-148.9	185.74	0
31-Mar-21	833.09	419.51	289.25	327.3	0
31-Mar-22	4066.68	3535.21	840.19	1512.49	877.35
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

99.61%

Promoter Shareholding (Post-Issue)

65.21%

P/E Ratio

38.09

14.59

Market Cap

₹57.66 Cr.

₹122.63 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Ishan International IPO retail investors (RII) are offered 10,80,000 shares while in Varanium Cloud IPO retail investors are offered 10,80,000 shares. Qualified institutional buyers (QIB) are offered in Ishan International IPO and in Varanium Cloud IPO.

	Ishan International IPO	Varanium Cloud IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,20,000 shares	4,86,000 shares
QIB
NII	10,80,000 shares	12,57,000 shares
RII	10,80,000 shares	12,57,000 shares
Employee
Others
Total	21,60,000 shares	25,14,000 shares

Bids Received (Subscription)

Ishan International IPO subscribed 1.62x in total, whereas Varanium Cloud IPO subscribed 5.46x.

	Ishan International IPO	Varanium Cloud IPO
QIB (times)
NII (times)	1.60x	5.83x
Big NII (times)
Small NII (times)
RII (times)	1.65x	5.09x
Employee (times)
Other (times)
Total (times)	1.62x	5.46x

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