Maiden Forgings IPO vs Nirman Agri Genetics IPO

Comparision between Maiden Forgings IPO and Nirman Agri Genetics IPO.

IPO Details

Maiden Forgings IPO is a SME Fixed Price Issue IPO proposed to list at BSE SME while Nirman Agri Genetics IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Maiden Forgings IPO	Nirman Agri Genetics IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Fixed Price Issue
Listing At	BSE SME	NSE SME
Lead Managers	Share India Capital Services Private Limited	First Overseas Capital Limited
Registrar	Maashitla Securities Private Limited	Bigshare Services Pvt Ltd
Market Maker	Share India Securities Limited	Nnm 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 Maiden Forgings IPO is up to ₹23.84 Cr whereas the issue size of the Nirman Agri Genetics IPO is up to ₹20.30 Cr. The final issue price of Maiden Forgings IPO is ₹63.00 per share and of Nirman Agri Genetics IPO is ₹99.00 per share.

	Maiden Forgings IPO	Nirman Agri Genetics IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹60.00 per share
Issue Price (Upper)	₹63.00 per share
Issue Price (Final)	₹63.00 per share	₹99.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	1200 shares
Fresh Issue Size	37,84,000 shares	20,50,800 shares
Fresh Issue Size (Amount)	up to ₹23.84 Cr	up to ₹20.30 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	37,84,000 shares	20,50,800 shares
Issue Size Total (Amount)	up to ₹23.84 Cr	up to ₹20.30 Cr

IPO Timetable

Maiden Forgings IPO opens on Mar 23, 2023, while Nirman Agri Genetics IPO opens on Mar 15, 2023. The closing date of Maiden Forgings IPO and Nirman Agri Genetics IPO is Mar 27, 2023, and Mar 20, 2023, respectively.

	Maiden Forgings IPO	Nirman Agri Genetics IPO
Anchor Bid Date	Mar 22, 2023
Issue Open	Mar 23, 2023	Mar 15, 2023
Issue Close	Mar 27, 2023	Mar 20, 2023
Basis Of Allotment (Tentative)	Mar 31, 2023	Mar 23, 2023
Initiation of Refunds (Tentative)	Apr 03, 2023	Mar 24, 2023
Credit of Share (Tentative)	Apr 05, 2023	Mar 27, 2023
Listing date (Tentative)	Apr 06, 2023	Mar 28, 2023
Anchor Lockin End date 1	Apr 30, 2023	Apr 22, 2023
Anchor Lockin End date 2	Jun 29, 2023	Jun 21, 2023

Financials

Maiden Forgings IPO P/E ratio is 8.38, as compared to Nirman Agri Genetics IPO P/E ratio of 14.93.

Maiden Forgings IPO

Nirman Agri Genetics IPO

Financial

Maiden Forgings Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	9,890.05	20,440.37	165.95	2,136.92	1,672.02	5,788.13
31-Mar-21	10,484.25	19,937.49	168.94	2,899.11	2,377.71	5,428.93
31-Mar-22	11,014.23	21,083.72	213.94	3,113.05	2,591.65	6,170.75
31-Dec-22	12,595.69	16,381.04	801.51	3,914.56	2,871.76	6,525.17
Amount in ₹ Lakhs

Nirman Agri Genetics Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-21	164.06	382.21	5.47	6.47	99.19
31-Mar-22	595.87	1,348.91	256.02	264.41	124.67
31-Oct-22	915.70	1,804.28	230.44	447.51	171.41
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100%

99.99%

Promoter Shareholding (Post-Issue)

73.37%

65.59%

P/E Ratio

8.38

14.93

Market Cap

₹89.54 Cr.

₹59.01 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Maiden Forgings IPO retail investors (RII) are offered 22,64,000 shares while in Nirman Agri Genetics IPO retail investors are offered 22,64,000 shares. Qualified institutional buyers (QIB) are offered 3,60,000 shares in Maiden Forgings IPO and in Nirman Agri Genetics IPO.

	Maiden Forgings IPO	Nirman Agri Genetics IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,90,000 shares	1,04,400 shares
QIB	3,60,000 shares
NII	9,70,000 shares	9,73,200 shares
RII	22,64,000 shares	9,73,200 shares
Employee	0 shares
Others
Total	37,84,000 shares	19,46,400 shares

Bids Received (Subscription)

Maiden Forgings IPO subscribed 1.20x in total, whereas Nirman Agri Genetics IPO subscribed 1.71x.

	Maiden Forgings IPO	Nirman Agri Genetics IPO
QIB (times)	1.00x
NII (times)	1.42x	1.22x
Big NII (times)
Small NII (times)
RII (times)	1.12x	2.20x
Employee (times)
Other (times)
Total (times)	1.20x	1.71x

Compare with others

Maiden Forgings IPO	Nirman Agri Genetics IPO
Sancode Technologies IPO	MOS Utility IPO
Exhicon Events IPO	Infinium Pharmachem IPO
Sotac Pharmaceuticals IPO	Maiden Forgings IPO
MOS Utility IPO	Command Polymers IPO
Infinium Pharmachem IPO	Dev Labtech Venture IPO
Command Polymers IPO	Labelkraft Technologies IPO
Dev Labtech Venture IPO	VELS Film International IPO
Nirman Agri Genetics IPO	Bright Outdoor Media IPO
Labelkraft Technologies IPO	Prospect Commodities IPO
VELS Film International IPO	Quality Foils (India) IPO

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