Divgi TorqTransfer Systems IPO vs Radiant Cash Management IPO

Comparision between Divgi TorqTransfer Systems IPO and Radiant Cash Management IPO.

IPO Details

Divgi TorqTransfer Systems IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Radiant Cash Management IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Inga Ventures Pvt Ltd Equirus Capital Private Limited	Iifl Securities Ltd Motilal Oswal Investment Advisors Limited Yes Securities (India) Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Divgi TorqTransfer Systems IPO is up to ₹412.12 Cr whereas the issue size of the Radiant Cash Management IPO is up to ₹256.64 Cr. The final issue price of Divgi TorqTransfer Systems IPO is ₹590.00 per share and of Radiant Cash Management IPO is ₹94.00 per share.

	Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
Face Value	₹5 per share	₹1 per share
Issue Price (Lower)	₹560.00 per share	₹94.00 per share
Issue Price (Upper)	₹590.00 per share	₹99.00 per share
Issue Price (Final)	₹590.00 per share	₹94.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	25 shares	150 shares
Fresh Issue Size		54,54,546 shares
Fresh Issue Size (Amount)	up to ₹180.00 Cr	up to ₹54.00 Cr
OFS Issue Size	39,34,243 shares	2,12,22,431 shares
OFS Issue Size (Amount)	up to ₹232.12 Cr	up to ₹202.64 Cr
Issue Size Total		2,66,76,977 shares
Issue Size Total (Amount)	up to ₹412.12 Cr	up to ₹256.64 Cr

IPO Timetable

Divgi TorqTransfer Systems IPO opens on Mar 01, 2023, while Radiant Cash Management IPO opens on Dec 23, 2022. The closing date of Divgi TorqTransfer Systems IPO and Radiant Cash Management IPO is Mar 03, 2023, and Dec 27, 2022, respectively.

	Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
Anchor Bid Date	Feb 28, 2023	Dec 22, 2022
Issue Open	Mar 01, 2023	Dec 23, 2022
Issue Close	Mar 03, 2023	Dec 27, 2022
Basis Of Allotment (Tentative)	Mar 09, 2023	Dec 30, 2022
Initiation of Refunds (Tentative)	Mar 10, 2023	Jan 02, 2023
Credit of Share (Tentative)	Mar 13, 2023	Jan 03, 2023
Listing date (Tentative)	Mar 14, 2023	Jan 04, 2023
Anchor Lockin End date 1	Apr 08, 2023	Jan 29, 2023
Anchor Lockin End date 2	Jun 07, 2023	Mar 30, 2023

Financials

Divgi TorqTransfer Systems IPO P/E ratio is 35.16, as compared to Radiant Cash Management IPO P/E ratio of 17.34.

Divgi TorqTransfer Systems IPO

Radiant Cash Management IPO

Financial

Divgi TorqTransfer Systems Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	303.70	170.74	28.04	209.53	203.51	50.41
31-Mar-21	362.88	195.03	38.04	295.88	288.99	0.26
31-Mar-22	405.37	241.87	46.15	340.02	326.25	0.12
30-Sep-22	430.21	137.55	25.66	356.20	342.44	0.50
Amount in ₹ Crore

Radiant Cash Management Services Limited Financial Information (Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-19	141.44	223.13	25.02	105.72	17.73
31-Mar-20	157.62	251.78	36.5	119.57	21.13
31-Mar-21	162.14	224.16	32.43	127.1	11.05
31-Mar-22	190.57	286.97	38.21	139.76	26.75
30-Jun-22	203.95	84.38	15.32	155.19	25.54
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

67.18%

66.39%

Promoter Shareholding (Post-Issue)

53.21%

P/E Ratio

35.16

17.34

Market Cap

₹1804.39 Cr.

₹1062.41 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Divgi TorqTransfer Systems IPO retail investors (RII) are offered 6,98,509 shares while in Radiant Cash Management IPO retail investors are offered 6,98,509 shares. Qualified institutional buyers (QIB) are offered 20,95,528 shares in Divgi TorqTransfer Systems IPO and 78,37,121 shares in Radiant Cash Management IPO.

	Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
Anchor Investor Reserveration	31,43,290 shares
Market Maker Reserveration
QIB	20,95,528 shares	78,37,121 shares
NII	10,47,763 shares	58,77,841 shares
RII	6,98,509 shares	1,37,14,963 shares
Employee	0 shares	0 shares
Others
Total	38,41,800 shares	2,74,29,925 shares

Bids Received (Subscription)

Divgi TorqTransfer Systems IPO subscribed 5.44x in total, whereas Radiant Cash Management IPO subscribed 0.53x.

	Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
QIB (times)	7.83x	1.01x
NII (times)	1.40x	0.66x
Big NII (times)	0.89x	0.94x
Small NII (times)	2.41x	0.09x
RII (times)	4.31x	0.21x
Employee (times)
Other (times)
Total (times)	5.44x	0.53x

Compare with others

Divgi TorqTransfer Systems IPO	Radiant Cash Management IPO
Nexus Select Trust REIT	Avalon Technologies IPO
Mankind Pharma IPO	Udayshivakumar Infra IPO
Avalon Technologies IPO	Global Surfaces IPO
Udayshivakumar Infra IPO	Divgi TorqTransfer Systems IPO
Global Surfaces IPO	Signatureglobal India IPO
Signatureglobal India IPO	KFin Technologies IPO
Radiant Cash Management IPO	Abans Holdings IPO
KFin Technologies IPO	Sah Polymers IPO
Abans Holdings IPO	Elin Electronics IPO
Sah Polymers IPO	Sula Vineyards IPO

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