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Clear Secured IPO vs Earkart IPO

Comparison between Clear Secured IPO and Earkart IPO.

IPO Details

Clear Secured IPO is a SME Fixed Price IPO proposed to list at NSE SME while Earkart IPO is a SME Fixed Price proposed to list at BSE SME.

 Clear Secured IPOEarkart IPO
LogoClear Secured IPO LogoEarkart IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeBookbuildingFixed Price
Listing AtNSE SMEBSE SME
Lead ManagersHorizon Management Pvt.Ltd.Sarthi Capital Advisors Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.Skyline Financial Services Pvt.Ltd.
Market MakerChoice Equity Broking Pvt.Ltd.Rikhav Securities Ltd.
DRHPDRHP DRHP
RHPRHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Clear Secured IPO is up to ₹81.31 Cr whereas the issue size of the Earkart IPO is up to ₹46.76 Cr. The final issue price of Clear Secured IPO is ₹132.00 per share and of Earkart IPO is ₹135.00 per share.

 Clear Secured IPOEarkart IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹125.00 per share
Issue Price (Upper)₹132.00 per share
Issue Price (Final)₹132.00 per share₹135.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size1000 shares1000 shares
Fresh Issue Size61,60,000 shares31,30,000 shares
Fresh Issue Size (Amount)up to ₹81.31 Crup to ₹42.26 Cr
OFS Issue Size0 shares3,34,000 shares
OFS Issue Size (Amount)up to ₹0.00 Crup to ₹4.51 Cr
Issue Size Total61,60,000 shares34,64,000 shares
Issue Size Total (Amount)up to ₹81.31 Crup to ₹46.76 Cr

IPO Timetable

Clear Secured IPO opens on Dec 01, 2025, while Earkart IPO opens on Sep 25, 2025. The closing date of Clear Secured IPO and Earkart IPO is Dec 03, 2025, and Sep 29, 2025, respectively.

 Clear Secured IPOEarkart IPO
Anchor Bid DateNov 28, 2025
Issue OpenDec 01, 2025Sep 25, 2025
Issue CloseDec 03, 2025Sep 29, 2025
Basis Of Allotment (Tentative)Dec 04, 2025Sep 30, 2025
Initiation of Refunds (Tentative)Dec 05, 2025Oct 01, 2025
Credit of Share (Tentative)Dec 05, 2025Oct 01, 2025
Listing date (Tentative)Dec 08, 2025Oct 03, 2025
Anchor Lockin End date 1Jan 02, 2026
Anchor Lockin End date 2Mar 03, 2026

Financials & KPIs

Clear Secured IPO P/E ratio is 23.36, as compared to Earkart IPO P/E ratio of 20.48.

 Clear Secured IPOEarkart IPO
Financials

Company Financials (Restated Consolidated)

Period Ended31 Aug 202531 Mar 202531 Mar 202431 Mar 2023
Assets303.03227.55170.04153.47
Total Income231.68482.74350.63311.71
Profit After Tax13.909.9212.086.85
EBITDA21.4422.3721.8014.58
NET Worth132.4497.3587.4375.35
Reserves and Surplus114.8897.1087.1875.10
Total Borrowing131.2899.3752.6644.19
Amount in ₹ Crore

Company Financials (Restated)

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets30.2919.2514.73
Total Income43.1931.9728.97
Profit After Tax6.883.061.31
EBITDA9.763.551.61
NET Worth19.9213.036.56
Reserves and Surplus9.4812.976.49
Total Borrowing4.964.001.21
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)99.8478.75
Promoter Shareholding (Post-Issue)73.0357.34
P/E Ratio23.3620.48
Market Cap₹317.42 Cr.₹185.68 Cr.
ROE10.7434.55
ROCE23.4647.32
Debt/Equity1.020.26
EPS₹5.65₹6.59
RoNW10.7434.55

Shares Offered

In the Clear Secured IPO Retail Individual Investors (RII) are offered 21,56,000 shares while in Earkart IPO retail investors are offered 21,56,000 shares. Qualified Institutional Buyers (QIB) are offered 12,32,000 shares in Clear Secured IPO and 0 shares in Earkart IPO.

 Clear Secured IPOEarkart IPO
Anchor Investor Reservation18,48,000 shares0 shares
Market Maker Reservation3,25,000 shares1,85,000 shares
QIB12,32,000 shares0 shares
NII9,24,000 shares17,32,000 shares
RII21,56,000 shares17,32,000 shares
Employee0 shares0 shares
Others
Total61,60,000 shares34,64,000 shares

Bids Received (Subscription)

Clear Secured IPO subscribed 6.18x in total, whereas Earkart IPO subscribed 1.28x.

 Clear Secured IPOEarkart IPO
QIB (times)9.98x
NII (times)12.51x2.20x
Big NII (times)14.66x
Small NII (times)8.20x
RII (times)6.60x0.35x
Employee (times)
Other (times)
Total (times)6.18x1.28x

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Compare:

Clear Secured IPO Vs Earkart IPO