Kore Digital IPO vs Sahana System IPO

Comparision between Kore Digital IPO and Sahana System IPO.

IPO Details

Kore Digital IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Sahana System IPO is a SME Book Built Issue proposed to list at NSE SME.

	Kore Digital IPO	Sahana System IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	First Overseas Capital Limited	Unistone Capital Pvt Ltd Interactive Financial Services Ltd
Registrar	Bigshare Services Pvt Ltd	Purva Sharegistry India Pvt Ltd
Market Maker	Nnm Securities Private Limited	Rikhav Securities 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 Kore Digital IPO is up to ₹18.00 Cr whereas the issue size of the Sahana System IPO is up to ₹32.74 Cr. The final issue price of Kore Digital IPO is ₹180.00 per share and of Sahana System IPO is ₹135.00 per share.

	Kore Digital IPO	Sahana System IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹132.00 per share
Issue Price (Upper)		₹135.00 per share
Issue Price (Final)	₹180.00 per share	₹135.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	800 shares	1000 shares
Fresh Issue Size	10,00,000 shares	24,25,000 shares
Fresh Issue Size (Amount)	up to ₹18.00 Cr	up to ₹32.74 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	10,00,000 shares	24,25,000 shares
Issue Size Total (Amount)	up to ₹18.00 Cr	up to ₹32.74 Cr

IPO Timetable

Kore Digital IPO opens on Jun 02, 2023, while Sahana System IPO opens on May 31, 2023. The closing date of Kore Digital IPO and Sahana System IPO is Jun 07, 2023, and Jun 02, 2023, respectively.

	Kore Digital IPO	Sahana System IPO
Anchor Bid Date
Issue Open	Jun 02, 2023	May 31, 2023
Issue Close	Jun 07, 2023	Jun 02, 2023
Basis Of Allotment (Tentative)	Jun 12, 2023	Jun 07, 2023
Initiation of Refunds (Tentative)	Jun 13, 2023	Jun 08, 2023
Credit of Share (Tentative)	Jun 14, 2023	Jun 09, 2023
Listing date (Tentative)	Jun 14, 2023	Jun 12, 2023
Anchor Lockin End date 1	Jul 12, 2023	Jul 07, 2023
Anchor Lockin End date 2	Sep 10, 2023	Sep 05, 2023

Financials

Kore Digital IPO P/E ratio is 17.86, as compared to Sahana System IPO P/E ratio of 16.88.

Kore Digital IPO

Sahana System IPO

Financial

Kore Digital Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	188.66	87.61	1.82	8.21	7.21
31-Mar-21	584.81	397.90	25.93	34.14	33.14	21.96
31-Mar-22	1,441.57	1,694.45	217.97	252.11	251.11	17.72
31-Dec-22	1,573.07	1,195.71	253.92	506.02	254.02	184.18
Amount in ₹ Lakhs

Sahana System Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-21	772.93	331.47	16.44	17.44	16.44	723.25
31-Mar-22	1,498.91	1,217.39	141.18	452.06	142.53	512.59
31-Mar-23	2,417.82	2,414.23	639.64	1,079.71	522.56	477.04
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

99.70%

90.25%

Promoter Shareholding (Post-Issue)

71.38%

P/E Ratio

17.86

16.88

Market Cap

₹63.36 Cr.

₹107.95 Cr.

ROE

0.67%%

83.52%%

ROCE

0.49%%

61.05%%

Debt/Equity

0.36

0.44

EPS

₹10.08

₹11.48

RoNW

50.18%%

59.24%%

Shares Offered

In the Kore Digital IPO retail investors (RII) are offered 4,74,000 shares while in Sahana System IPO retail investors are offered 4,74,000 shares. Qualified institutional buyers (QIB) are offered 0 shares in Kore Digital IPO and 2,30,000 shares in Sahana System IPO.

	Kore Digital IPO	Sahana System IPO
Anchor Investor Reserveration
Market Maker Reserveration	52,000 shares	1,25,000 shares
QIB	0 shares	2,30,000 shares
NII	4,74,000 shares	10,35,000 shares
RII	4,74,000 shares	10,35,000 shares
Employee	0 shares	0 shares
Others
Total	9,48,000 shares	23,00,000 shares

Bids Received (Subscription)

Kore Digital IPO subscribed 41.56x in total, whereas Sahana System IPO subscribed 9.99x.

	Kore Digital IPO	Sahana System IPO
QIB (times)		9.70x
NII (times)	49.67x	7.07x
Big NII (times)
Small NII (times)
RII (times)	33.26x	12.97x
Employee (times)
Other (times)
Total (times)	41.56x	9.99x

Compare with others

Kore Digital IPO	Sahana System IPO
Cell Point (India) IPO	Bizotic Commercial IPO
Bizotic Commercial IPO	Urban Enviro Waste Management IPO
Urban Enviro Waste Management IPO	Cosmic CRF IPO
Cosmic CRF IPO	Sonalis Consumer Products IPO
Sonalis Consumer Products IPO	Kore Digital IPO
Sahana System IPO	CFF Fluid Control IPO
CFF Fluid Control IPO	Comrade Appliances IPO
Comrade Appliances IPO	Infollion Research Services IPO
Infollion Research Services IPO	Proventus Agrocom IPO
Proventus Agrocom IPO	Hemant Surgical Industries IPO

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