Madhavbaug IPO vs SP Refractories IPO

Comparision between Madhavbaug IPO and SP Refractories IPO.

IPO Details

Madhavbaug IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while SP Refractories IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Madhavbaug IPO	SP Refractories IPO
Logo		$SP Refractories IPO Logo$
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	Aryaman Financial Services Limited
Registrar	Bigshare Services Pvt Ltd	Bigshare Services Pvt Ltd
Market Maker
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 Madhavbaug IPO is up to ₹20.23 Cr whereas the issue size of the SP Refractories IPO is up to ₹4.92 Cr. The final issue price of Madhavbaug IPO is ₹73.00 per share and of SP Refractories IPO is ₹90.00 per share.

	Madhavbaug IPO	SP Refractories IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹73.00 per share	₹90.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1600 shares	1600 shares
Fresh Issue Size	27,71,200 shares	2,97,600 shares
Fresh Issue Size (Amount)	up to ₹20.23 Cr	up to ₹2.68 Cr
OFS Issue Size		2,49,600 shares
OFS Issue Size (Amount)		up to ₹2.25 Cr
Issue Size Total	27,71,200 shares	5,47,200 shares
Issue Size Total (Amount)	up to ₹20.23 Cr	up to ₹4.92 Cr

IPO Timetable

Madhavbaug IPO opens on Feb 10, 2022, while SP Refractories IPO opens on Mar 09, 2022. The closing date of Madhavbaug IPO and SP Refractories IPO is Feb 15, 2022, and Mar 11, 2022, respectively.

	Madhavbaug IPO	SP Refractories IPO
Anchor Bid Date
Issue Open	Feb 10, 2022	Mar 09, 2022
Issue Close	Feb 15, 2022	Mar 11, 2022
Basis Of Allotment (Tentative)	Feb 18, 2022	Mar 16, 2022
Initiation of Refunds (Tentative)	Feb 21, 2022	Mar 17, 2022
Credit of Share (Tentative)	Feb 22, 2022	Mar 21, 2022
Listing date (Tentative)	Feb 23, 2022	Mar 22, 2022
Anchor Lockin End date 1	Mar 20, 2022	Apr 15, 2022
Anchor Lockin End date 2	May 19, 2022	Jun 14, 2022

Financials

Madhavbaug IPO P/E ratio is 28.29, as compared to SP Refractories IPO P/E ratio of 9.94.

Madhavbaug IPO

SP Refractories IPO

Financial

Summary of financial Information (Restated Consolidated)
Particulars	For the year/period ended (₹ in Millions)
	30-Sep-21	31-Mar-21	31-Mar-20
Total Assets	257.80	258.06	291.11
Total Revenue	315.65	522.79	752.97
Profit After Tax	13.54	15.47	-5.57

Summary of financial Information (Restated Consolidated)
Particulars	For the year/period ended (₹ in Lakh)
	30-Sep-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	1,232.20	1,057.17	898.33	792.01
Total Revenue	1,447.64	2,572.48	2,099.59	1,855.95
Profit After Tax	80.74	75.35	39.93	20.59

Promoter Shareholding (Pre-Issue)

90.08%

100%

Promoter Shareholding (Post-Issue)

66.34%

69.42%

P/E Ratio

28.29

9.94

Market Cap

₹76.75 Cr.

₹16.11 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Madhavbaug IPO retail investors (RII) are offered 13,15,200 shares while in SP Refractories IPO retail investors are offered 13,15,200 shares. Qualified institutional buyers (QIB) are offered in Madhavbaug IPO and in SP Refractories IPO.

	Madhavbaug IPO	SP Refractories IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,40,800 shares	28,800 shares
QIB
NII	13,15,200 shares	2,59,200 shares
RII	13,15,200 shares	2,59,200 shares
Employee
Others
Total	26,30,400 shares	5,18,400 shares

Bids Received (Subscription)

Madhavbaug IPO subscribed 2.82x in total, whereas SP Refractories IPO subscribed 7.24x.

	Madhavbaug IPO	SP Refractories IPO
QIB (times)
NII (times)	2.66x	5.64x
Big NII (times)
Small NII (times)
RII (times)	2.98x	8.85x
Employee (times)
Other (times)
Total (times)	2.82x	7.24x

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