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Neptune Logitek IPO vs Workmates Core2Cloud IPO

Comparison between Neptune Logitek IPO and Workmates Core2Cloud IPO.

IPO Details

Neptune Logitek IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Workmates Core2Cloud IPO is a SME Bookbuilding proposed to list at BSE SME.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
LogoNeptune Logitek IPO LogoWorkmates Core2Cloud IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeFixed PriceBookbuilding
Listing AtBSE SMEBSE SME
Lead ManagersGalactico Corporate Services Ltd.Horizon Management Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.MUFG Intime India Pvt.Ltd.
Market MakerAsnani Stock Broker Pvt.Ltd.Giriraj Stock Broking Pvt.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 Neptune Logitek IPO is up to ₹44.29 Cr whereas the issue size of the Workmates Core2Cloud IPO is up to ₹66.34 Cr. The final issue price of Neptune Logitek IPO is ₹126.00 per share and of Workmates Core2Cloud IPO is ₹204.00 per share.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹200.00 per share
Issue Price (Upper)₹204.00 per share
Issue Price (Final)₹126.00 per share₹204.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size1000 shares600 shares
Fresh Issue Size35,15,000 shares27,37,200 shares
Fresh Issue Size (Amount)up to ₹44.29 Crup to ₹55.84 Cr
OFS Issue Size0 shares5,14,800 shares
OFS Issue Size (Amount)up to ₹0.00 Crup to ₹10.50 Cr
Issue Size Total35,15,000 shares32,52,000 shares
Issue Size Total (Amount)up to ₹44.29 Crup to ₹66.34 Cr

IPO Timetable

Neptune Logitek IPO opens on Dec 15, 2025, while Workmates Core2Cloud IPO opens on Nov 11, 2025. The closing date of Neptune Logitek IPO and Workmates Core2Cloud IPO is Dec 17, 2025, and Nov 13, 2025, respectively.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
Anchor Bid DateNov 10, 2025
Issue OpenDec 15, 2025Nov 11, 2025
Issue CloseDec 17, 2025Nov 13, 2025
Basis Of Allotment (Tentative)Dec 18, 2025Nov 14, 2025
Initiation of Refunds (Tentative)Dec 19, 2025Nov 17, 2025
Credit of Share (Tentative)Dec 19, 2025Nov 17, 2025
Listing date (Tentative)Dec 22, 2025Nov 18, 2025
Anchor Lockin End date 1Dec 13, 2025
Anchor Lockin End date 2Feb 11, 2026

Financials & KPIs

Neptune Logitek IPO P/E ratio is 13.76, as compared to Workmates Core2Cloud IPO P/E ratio of 14.66.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
Financials

Company Financials (Restated)

Period Ended31 Aug 202531 Mar 202531 Mar 202431 Mar 2023
Assets122.94119.2595.2474.51
Total Income105.52260.74175.76187.71
Profit After Tax4.029.160.00-0.18
EBITDA9.2621.389.745.55
NET Worth23.9719.9510.7910.79
Reserves and Surplus13.979.959.799.79
Total Borrowing56.4058.0062.4838.20
Amount in ₹ Crore

Company Financials (Restated Consolidated)

Period Ended31 Aug 202531 Mar 202531 Mar 202431 Mar 2023
Assets69.4462.1624.5711.14
Total Income59.55108.3953.5329.14
Profit After Tax7.2213.935.351.86
EBITDA10.6219.057.702.70
NET Worth30.1022.898.963.61
Reserves and Surplus20.0922.888.953.60
Total Borrowing8.688.79
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)99.9998.1
Promoter Shareholding (Post-Issue)72.9972.02
P/E Ratio13.7614.66
Market Cap₹172.62 Cr.₹263.54 Cr.
ROE14.8967.44
ROCE21.2564.61
Debt/Equity2.910.38
EPS₹9.16₹13.91
RoNW45.8960.85

Shares Offered

In the Neptune Logitek IPO Retail Individual Investors (RII) are offered 17,57,500 shares while in Workmates Core2Cloud IPO retail investors are offered 17,57,500 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Neptune Logitek IPO and 6,62,400 shares in Workmates Core2Cloud IPO.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
Anchor Investor Reservation0 shares9,60,000 shares
Market Maker Reservation1,85,000 shares1,71,600 shares
QIB0 shares6,62,400 shares
NII17,57,500 shares4,89,600 shares
RII17,57,500 shares11,40,000 shares
Employee0 shares0 shares
Others
Total35,15,000 shares32,52,000 shares

Bids Received (Subscription)

Neptune Logitek IPO subscribed 1.61x in total, whereas Workmates Core2Cloud IPO subscribed 99.64x.

 Neptune Logitek IPOWorkmates Core2Cloud IPO
QIB (times)147.03x
NII (times)0.32x202.96x
Big NII (times)244.88x
Small NII (times)119.11x
RII (times)2.90x111.64x
Employee (times)
Other (times)
Total (times)1.61x99.64x

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Neptune Logitek IPO Vs Workmates Core2Cloud IPO