DHARNI Capital Services IPO vs Earthstahl & Alloys IPO

Comparision between DHARNI Capital Services IPO and Earthstahl & Alloys IPO.

IPO Details

DHARNI Capital Services IPO is a SME Book Built Issue IPO proposed to list at BSE SME while Earthstahl & Alloys IPO is a SME Book Built Issue proposed to list at BSE SME.

	DHARNI Capital Services IPO	Earthstahl & Alloys IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Book Built Issue
Listing At	BSE SME	BSE SME
Lead Managers	Srujan Alpha Capital Advisors Llp	Hem Securities Limited
Registrar	Cameo Corporate Services Limited	Bigshare Services Pvt Ltd
Market Maker	Sunflower Broking Private Limited	Hem Securities Ltd.
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 DHARNI Capital Services IPO is up to ₹10.74 Cr whereas the issue size of the Earthstahl & Alloys IPO is up to ₹12.96 Cr. The final issue price of DHARNI Capital Services IPO is ₹20.00 per share and of Earthstahl & Alloys IPO is ₹40.00 per share.

	DHARNI Capital Services IPO	Earthstahl & Alloys IPO
Face Value	₹1 per share	₹10 per share
Issue Price (Lower)		₹38.00 per share
Issue Price (Upper)		₹40.00 per share
Issue Price (Final)	₹20.00 per share	₹40.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	6000 shares	3000 shares
Fresh Issue Size	53,70,000 shares	32,40,000 shares
Fresh Issue Size (Amount)	up to ₹10.74 Cr	up to ₹12.96 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	53,70,000 shares	32,40,000 shares
Issue Size Total (Amount)	up to ₹10.74 Cr	up to ₹12.96 Cr

IPO Timetable

DHARNI Capital Services IPO opens on Jan 18, 2023, while Earthstahl & Alloys IPO opens on Jan 27, 2023. The closing date of DHARNI Capital Services IPO and Earthstahl & Alloys IPO is Jan 20, 2023, and Jan 31, 2023, respectively.

	DHARNI Capital Services IPO	Earthstahl & Alloys IPO
Anchor Bid Date
Issue Open	Jan 18, 2023	Jan 27, 2023
Issue Close	Jan 20, 2023	Jan 31, 2023
Basis Of Allotment (Tentative)	Jan 25, 2023	Feb 03, 2023
Initiation of Refunds (Tentative)	Jan 27, 2023	Feb 06, 2023
Credit of Share (Tentative)	Jan 30, 2023	Feb 07, 2023
Listing date (Tentative)	Jan 31, 2023	Feb 08, 2023
Anchor Lockin End date 1	Feb 24, 2023	Mar 05, 2023
Anchor Lockin End date 2	Apr 25, 2023	May 04, 2023

Financials

DHARNI Capital Services IPO P/E ratio is 34.48, as compared to Earthstahl & Alloys IPO P/E ratio of 4.22.

DHARNI Capital Services IPO

Earthstahl & Alloys IPO

Financial

DHARNI Capital Services Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	19.16	19.87	1.34	-4.11	22.48
31-Mar-21	25.35	255.41	15.26	11.16	9.35
31-Mar-22	245.24	1,469.40	96.58	226.74	0.00
30-Sep-22	292.91	304.95	58.73	285.74	0.00
Amount in ₹ Lakhs

Earthstahl & Alloys Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	2,990.73	3,181.58	-33.49	44.24	200.22	1,733.71
31-Mar-21	2,817.23	2,457.53	267.31	311.55	467.53	1,396.82
31-Mar-22	3,592.61	4,907.54	745.48	1,057.03	1,213.01	1,399.97
30-Sep-22	4,303.34	4,824.68	580.47	1,637.50	1,793.48	1,092.93
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00%

Promoter Shareholding (Post-Issue)

73.64%

73.53%

P/E Ratio

34.48

4.22

Market Cap

₹40.74 Cr.

₹48.96 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the DHARNI Capital Services IPO retail investors (RII) are offered 25,50,000 shares while in Earthstahl & Alloys IPO retail investors are offered 25,50,000 shares. Qualified institutional buyers (QIB) are offered in DHARNI Capital Services IPO and 9,18,000 shares in Earthstahl & Alloys IPO.

	DHARNI Capital Services IPO	Earthstahl & Alloys IPO
Anchor Investor Reserveration
Market Maker Reserveration	2,70,000 shares	1,68,000 shares
QIB		9,18,000 shares
NII	25,50,000 shares	10,77,000 shares
RII	25,50,000 shares	10,77,000 shares
Employee
Others
Total	51,00,000 shares	30,72,000 shares

Bids Received (Subscription)

DHARNI Capital Services IPO subscribed 6.57x in total, whereas Earthstahl & Alloys IPO subscribed 235.18x.

	DHARNI Capital Services IPO	Earthstahl & Alloys IPO
QIB (times)		39.83x
NII (times)	6.32x	445.09x
Big NII (times)
Small NII (times)
RII (times)	6.83x	191.77x
Employee (times)
Other (times)
Total (times)	6.57x	235.18x

Compare with others

DHARNI Capital Services IPO	Earthstahl & Alloys IPO
Agarwal Float Glass India IPO	Lead Reclaim and Rubber Products IPO
Shera Energy IPO	Indong Tea Company IPO
Gayatri Rubbers and Chemicals IPO	Agarwal Float Glass India IPO
Earthstahl & Alloys IPO	Shera Energy IPO
Transvoy Logistics India IPO	Gayatri Rubbers and Chemicals IPO
Aristo Bio-Tech and Lifescience IPO	Transvoy Logistics India IPO
Ducol Organics And Colours IPO	DHARNI Capital Services IPO
Eastern Logica Infoway IPO	Aristo Bio-Tech and Lifescience IPO
Chaman Metallics IPO	Ducol Organics And Colours IPO
Rex Sealing and Packing Industries IPO	Eastern Logica Infoway IPO

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