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Bhavik Enterprises IPO vs Kiaasa Retail IPO

Comparison between Bhavik Enterprises IPO and Kiaasa Retail IPO.

IPO Details

Bhavik Enterprises IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Kiaasa Retail IPO is a SME Bookbuilding proposed to list at BSE SME.

 Bhavik Enterprises IPOKiaasa Retail IPO
LogoBhavik Enterprises IPO LogoKiaasa Retail IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeFixed PriceBookbuilding
Listing AtBSE SMEBSE SME
Lead ManagersSmart Horizon Capital Advisors Pvt.Ltd.Expert Global Consultants Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.Purva Sharegistry (India) Pvt.Ltd.
Market MakerShreni Shares Ltd.Prabhat Financial Services Ltd.
DRHPDRHP DRHP
RHPRHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Bhavik Enterprises IPO is up to ₹73.08 Cr whereas the issue size of the Kiaasa Retail IPO is up to ₹66.24 Cr. The final issue price of Bhavik Enterprises IPO is ₹140.00 per share and of Kiaasa Retail IPO is ₹127.00 per share.

 Bhavik Enterprises IPOKiaasa Retail IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹121.00 per share
Issue Price (Upper)₹127.00 per share
Issue Price (Final)₹140.00 per share₹127.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size1000 shares1000 shares
Fresh Issue Size42,20,000 shares52,16,000 shares
Fresh Issue Size (Amount)up to ₹59.08 Crup to ₹66.24 Cr
OFS Issue Size10,00,000 shares0 shares
OFS Issue Size (Amount)up to ₹14.00 Crup to ₹0.00 Cr
Issue Size Total52,20,000 shares52,16,000 shares
Issue Size Total (Amount)up to ₹73.08 Crup to ₹66.24 Cr

IPO Timetable

Bhavik Enterprises IPO opens on Sep 25, 2025, while Kiaasa Retail IPO opens on Feb 23, 2026. The closing date of Bhavik Enterprises IPO and Kiaasa Retail IPO is Sep 30, 2025, and Feb 25, 2026, respectively.

 Bhavik Enterprises IPOKiaasa Retail IPO
Anchor Bid DateFeb 20, 2026
Issue OpenSep 25, 2025Feb 23, 2026
Issue CloseSep 30, 2025Feb 25, 2026
Basis Of Allotment (Tentative)Oct 01, 2025Feb 26, 2026
Initiation of Refunds (Tentative)Oct 03, 2025Feb 27, 2026
Credit of Share (Tentative)Oct 03, 2025Feb 27, 2026
Listing date (Tentative)Oct 06, 2025Mar 02, 2026
Anchor Lockin End date 1Mar 28, 2026
Anchor Lockin End date 2May 27, 2026

Financials & KPIs

Bhavik Enterprises IPO P/E ratio is 39.07, as compared to Kiaasa Retail IPO P/E ratio of 19.31.

 Bhavik Enterprises IPOKiaasa Retail IPO
Financials

Company Financials (Restated)

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets173.22136.52157.46
Total Income531.46500.35491.09
Profit After Tax5.687.8915.56
EBITDA3.944.8317.46
NET Worth98.0292.3484.44
Reserves and Surplus82.1687.0579.16
Amount in ₹ Crore

Company Financials (Restated)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets181.81144.3095.4254.26
Total Income58.01120.7085.1950.18
Profit After Tax6.648.385.742.46
EBITDA12.2615.4910.014.95
NET Worth47.3140.6712.712.96
Reserves and Surplus34.5727.938.212.46
Total Borrowing43.0328.6715.8821.17
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)99.9971.84
Promoter Shareholding (Post-Issue)72.9850.22
P/E Ratio39.0719.31
Market Cap₹285.01 Cr.₹231.51 Cr.
ROE5.9742.36
ROCE7.8420.34
Debt/Equity0.70
EPS₹3.58₹6.58
RoNW5.8020.60

Shares Offered

In the Bhavik Enterprises IPO Retail Individual Investors (RII) are offered 26,10,000 shares while in Kiaasa Retail IPO retail investors are offered 26,10,000 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Bhavik Enterprises IPO and 52,000 shares in Kiaasa Retail IPO.

 Bhavik Enterprises IPOKiaasa Retail IPO
Anchor Investor Reservation0 shares0 shares
Market Maker Reservation2,80,000 shares2,75,000 shares
QIB0 shares52,000 shares
NII26,10,000 shares20,87,000 shares
RII26,10,000 shares30,76,000 shares
Employee0 shares0 shares
Others
Total52,20,000 shares52,15,000 shares

Bids Received (Subscription)

Bhavik Enterprises IPO subscribed 0.98x in total, whereas Kiaasa Retail IPO subscribed 2.05x.

 Bhavik Enterprises IPOKiaasa Retail IPO
QIB (times)14.98x
NII (times)1.30x1.16x
Big NII (times)1.29x
Small NII (times)0.90x
RII (times)0.67x2.43x
Employee (times)
Other (times)
Total (times)0.98x2.05x

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Compare:

Bhavik Enterprises IPO Vs Kiaasa Retail IPO