Electro Force India IPO vs Indifra IPO

Comparision between Electro Force India IPO and Indifra IPO.

IPO Details

Electro Force India IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Indifra IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Electro Force India IPO	Indifra 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	Beeline Capital Advisors Pvt Ltd
Registrar	Skyline Financial Services Private Ltd	Kfin Technologies Limited
Market Maker	Arham Shares Private Limited	Spread X Securities Private Limited
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 Electro Force India IPO is up to ₹80.68 Cr whereas the issue size of the Indifra IPO is up to ₹14.04 Cr. The final issue price of Electro Force India IPO is ₹93.00 per share and of Indifra IPO is ₹65.00 per share.

	Electro Force India IPO	Indifra IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹93.00 per share	₹65.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	2000 shares
Fresh Issue Size	60,00,000 shares	21,60,000 shares
Fresh Issue Size (Amount)	up to ₹55.80 Cr	up to ₹14.04 Cr
OFS Issue Size	26,74,800 shares
OFS Issue Size (Amount)	up to ₹24.88 Cr
Issue Size Total	86,74,800 shares	21,60,000 shares
Issue Size Total (Amount)	up to ₹80.68 Cr	up to ₹14.04 Cr

IPO Timetable

Electro Force India IPO opens on Dec 19, 2023, while Indifra IPO opens on Dec 21, 2023. The closing date of Electro Force India IPO and Indifra IPO is Dec 21, 2023, and Dec 26, 2023, respectively.

	Electro Force India IPO	Indifra IPO
Anchor Bid Date
Issue Open	Dec 19, 2023	Dec 21, 2023
Issue Close	Dec 21, 2023	Dec 26, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 27, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 28, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 28, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 29, 2023
Anchor Lockin End date 1	Jan 21, 2024	Jan 26, 2024
Anchor Lockin End date 2	Mar 21, 2024	Mar 26, 2024

Financials

Electro Force India IPO P/E ratio is 20.22, as compared to Indifra IPO P/E ratio of 11.23.

Electro Force India IPO

Indifra IPO

Financial

Electro Force (India) Limited Financial Information (Restated)

Electro Force (India) Limited's revenue decreased by -12.04% and profit after tax (PAT) dropped by -7.48% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	7,827.00	7,231.51	4,783.37	1,719.96
Revenue	2,314.19	3,028.81	3,443.55	1,587.13
Profit After Tax	711.08	799.60	864.26	-223.69
Net Worth	2,546.41	1,835.33	1,035.73	171.47
Reserves and Surplus	806.41	95.33	535.73	-328.53
Total Borrowing
Amount in ₹ Lakhs

Indifra Limited Financial Information (Restated)

Indifra Limited's revenue decreased by -8.3% and profit after tax (PAT) rose by 148.07% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	630.24	312.46	420.10	229.63
Revenue	64.28	1,001.69	1,092.41	306.54
Profit After Tax	3.54	99.08	39.94	10.51
Net Worth	533.25	169.70	70.62	30.68
Reserves and Surplus	20.25	168.70	69.62	29.68
Total Borrowing		38.26	50.61	45.05
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00%

96%

Promoter Shareholding (Post-Issue)

62.93%

67.55%

P/E Ratio

20.22

11.23

Market Cap

₹217.62 Cr.

₹47.39 Cr.

ROE

43.57%%

82.45%%

ROCE

58.23%%

86.21%%

Debt/Equity

EPS

₹4.60

₹5.79

RoNW

43.57%%

82.45%%

Shares Offered

In the Electro Force India IPO retail investors (RII) are offered 41,19,600 shares while in Indifra IPO retail investors are offered 41,19,600 shares. Qualified institutional buyers (QIB) are offered 0 shares in Electro Force India IPO and 0 shares in Indifra IPO.

	Electro Force India IPO	Indifra IPO
Anchor Investor Reserveration
Market Maker Reserveration	4,35,600 shares	1,08,000 shares
QIB	0 shares	0 shares
NII	41,19,600 shares	10,26,000 shares
RII	41,19,600 shares	10,26,000 shares
Employee	0 shares	0 shares
Others
Total	82,39,200 shares	20,52,000 shares

Bids Received (Subscription)

Electro Force India IPO subscribed 4.28x in total, whereas Indifra IPO subscribed 7.21x.

	Electro Force India IPO	Indifra IPO
QIB (times)
NII (times)	2.12x	2.34x
Big NII (times)
Small NII (times)
RII (times)	6.44x	12.07x
Employee (times)
Other (times)
Total (times)	4.28x	7.21x

Compare with others

Electro Force India IPO	Indifra IPO
AIK Pipes And Polymers IPO	HRH Next Services IPO
Indifra IPO	MCPL IPO
Sameera Agro IPO	Kay Cee Energy & Infra IPO
Supreme Power Equipment IPO	Balaji Valve Components IPO
Sahara Maritime IPO	AIK Pipes And Polymers IPO
Trident Techlabs IPO	Sameera Agro IPO
Shree OSFM E-Mobility IPO	Supreme Power Equipment IPO
Siyaram Recycling IPO	Sahara Maritime IPO
Presstonic Engineering IPO	Electro Force India IPO
S J Logistics IPO	Trident Techlabs IPO

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