Thaai Casting IPO vs Zenith Drugs IPO

Comparision between Thaai Casting IPO and Zenith Drugs IPO.

IPO Details

Thaai Casting IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Zenith Drugs IPO is a SME Book Built Issue proposed to list at NSE SME.

	Thaai Casting IPO	Zenith Drugs 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	GYR Capital Advisors Private Limited	Gretex Corporate Services Limited
Registrar	Purva Sharegistry India Pvt Ltd	Bigshare Services Pvt Ltd
Market Maker	Giriraj Stock Broking Private Limited	Gretex Share Broking 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 Thaai Casting IPO is up to ₹47.20 Cr whereas the issue size of the Zenith Drugs IPO is up to ₹40.68 Cr. The final issue price of Thaai Casting IPO is ₹77.00 per share and of Zenith Drugs IPO is ₹79.00 per share.

	Thaai Casting IPO	Zenith Drugs IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹73.00 per share	₹75.00 per share
Issue Price (Upper)	₹77.00 per share	₹79.00 per share
Issue Price (Final)	₹77.00 per share	₹79.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1600 shares	1600 shares
Fresh Issue Size	61,29,600 shares	51,48,800 shares
Fresh Issue Size (Amount)	up to ₹47.20 Cr	up to ₹40.68 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	61,29,600 shares	51,48,800 shares
Issue Size Total (Amount)	up to ₹47.20 Cr	up to ₹40.68 Cr

IPO Timetable

Thaai Casting IPO opens on Feb 15, 2024, while Zenith Drugs IPO opens on Feb 19, 2024. The closing date of Thaai Casting IPO and Zenith Drugs IPO is Feb 20, 2024, and Feb 22, 2024, respectively.

	Thaai Casting IPO	Zenith Drugs IPO
Anchor Bid Date	Feb 14, 2024	Feb 16, 2024
Issue Open	Feb 15, 2024	Feb 19, 2024
Issue Close	Feb 20, 2024	Feb 22, 2024
Basis Of Allotment (Tentative)	Feb 21, 2024	Feb 23, 2024
Initiation of Refunds (Tentative)	Feb 21, 2024	Feb 26, 2024
Credit of Share (Tentative)	Feb 22, 2024	Feb 26, 2024
Listing date (Tentative)	Feb 23, 2024	Feb 27, 2024
Anchor Lockin End date 1	Mar 21, 2024	Mar 24, 2024
Anchor Lockin End date 2	May 20, 2024	May 23, 2024

Financials

Thaai Casting IPO P/E ratio is 25.99, as compared to Zenith Drugs IPO P/E ratio of 18.4.

Thaai Casting IPO

Zenith Drugs IPO

Financial

Thaai Casting Ltd Financial Information (Restated Standalone)

Thaai Casting Ltd's revenue increased by 27.84% and profit after tax (PAT) rose by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Oct 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	14,638.25	5,498.52	3,752.29	2,379.19
Revenue	4,848.91	4,911.64	3,841.94	2,048.70
Profit After Tax	860.93	503.71	115.40	40.33
Net Worth	4,116.94	1,617.31	894.84	473.46
Reserves and Surplus	620.78
Total Borrowing	7,830.03	2,985.10	2,351.15	1,313.51
Amount in ₹ Lakhs

Zenith Drugs Limited Financial Information (Restated Consolidated)

Zenith Drugs Limited's revenue increased by 24.85% and profit after tax (PAT) rose by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022
Assets	11,249.04	9,793.83	6,858.47
Revenue	6,948.43	11,569.65	9,266.63
Profit After Tax	539.38	515.29	312.86
Net Worth	2,264.96	1,724.42	1,209.09
Reserves and Surplus	1,064.96	1,684.42	1,169.09
Total Borrowing	2,902.81	2,605.03	1,880.86
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

86.50%

100.00%

Promoter Shareholding (Post-Issue)

69.98%

P/E Ratio

25.99

18.4

Market Cap

₹178.10 Cr.

₹135.48 Cr.

ROE

35.13%%

ROCE

13%%

37.29%%

Debt/Equity

1.85

1.51

EPS

₹2.96

₹4.29

RoNW

40.10%%

29.88%%

Shares Offered

In the Thaai Casting IPO retail investors (RII) are offered 20,24,000 shares while in Zenith Drugs IPO retail investors are offered 20,24,000 shares. Qualified institutional buyers (QIB) are offered 11,56,800 shares in Thaai Casting IPO and 8,59,200 shares in Zenith Drugs IPO.

	Thaai Casting IPO	Zenith Drugs IPO
Anchor Investor Reserveration	17,34,400 shares	12,88,000 shares
Market Maker Reserveration	3,47,200 shares	8,52,800 shares
QIB	11,56,800 shares	8,59,200 shares
NII	8,67,200 shares	6,44,800 shares
RII	20,24,000 shares	15,04,000 shares
Employee	0 shares	0 shares
Others
Total	40,48,000 shares	30,08,000 shares

Bids Received (Subscription)

Thaai Casting IPO subscribed 375.43x in total, whereas Zenith Drugs IPO subscribed 179.18x.

	Thaai Casting IPO	Zenith Drugs IPO
QIB (times)	144.43x	106.72x
NII (times)	729.72x	368.77x
Big NII (times)
Small NII (times)
RII (times)	355.66x	139.28x
Employee (times)
Other (times)
Total (times)	375.43x	179.18x

Compare with others

Thaai Casting IPO	Zenith Drugs IPO
Zenith Drugs IPO	M.V.K. Agro Food IPO
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Rudra Gas Enterprise IPO	Interiors and More IPO
WTI Cabs IPO	Atmastco IPO
Alpex Solar IPO	Thaai Casting IPO

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