Global Surfaces IPO vs Radiant Cash Management IPO

Comparision between Global Surfaces IPO and Radiant Cash Management IPO.

IPO Details

Global Surfaces 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.

	Global Surfaces 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	Unistone Capital Pvt Ltd	Iifl Securities Ltd Motilal Oswal Investment Advisors Limited Yes Securities (India) Limited
Registrar	Bigshare Services Pvt 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 Global Surfaces IPO is up to ₹154.98 Cr whereas the issue size of the Radiant Cash Management IPO is up to ₹256.64 Cr. The final issue price of Global Surfaces IPO is ₹140.00 per share and of Radiant Cash Management IPO is ₹94.00 per share.

	Global Surfaces IPO	Radiant Cash Management IPO
Face Value	₹10 per share	₹1 per share
Issue Price (Lower)	₹133.00 per share	₹94.00 per share
Issue Price (Upper)	₹140.00 per share	₹99.00 per share
Issue Price (Final)	₹140.00 per share	₹94.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	100 shares	150 shares
Fresh Issue Size	85,20,000 shares	54,54,546 shares
Fresh Issue Size (Amount)	up to ₹119.28 Cr	up to ₹54.00 Cr
OFS Issue Size	25,50,000 shares	2,12,22,431 shares
OFS Issue Size (Amount)	up to ₹35.70 Cr	up to ₹202.64 Cr
Issue Size Total	1,10,70,000 shares	2,66,76,977 shares
Issue Size Total (Amount)	up to ₹154.98 Cr	up to ₹256.64 Cr

IPO Timetable

Global Surfaces IPO opens on Mar 13, 2023, while Radiant Cash Management IPO opens on Dec 23, 2022. The closing date of Global Surfaces IPO and Radiant Cash Management IPO is Mar 15, 2023, and Dec 27, 2022, respectively.

	Global Surfaces IPO	Radiant Cash Management IPO
Anchor Bid Date	Mar 10, 2023	Dec 22, 2022
Issue Open	Mar 13, 2023	Dec 23, 2022
Issue Close	Mar 15, 2023	Dec 27, 2022
Basis Of Allotment (Tentative)	Mar 20, 2023	Dec 30, 2022
Initiation of Refunds (Tentative)	Mar 21, 2023	Jan 02, 2023
Credit of Share (Tentative)	Mar 22, 2023	Jan 03, 2023
Listing date (Tentative)	Mar 23, 2023	Jan 04, 2023
Anchor Lockin End date 1	Apr 19, 2023	Jan 29, 2023
Anchor Lockin End date 2	Jun 18, 2023	Mar 30, 2023

Financials

Global Surfaces IPO P/E ratio is 21.84, as compared to Radiant Cash Management IPO P/E ratio of 17.34.

Global Surfaces IPO

Radiant Cash Management IPO

Financial

Global Surfaces Limited Financial Information (Restated Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	128.73	165.78	20.96	64.48	58.03	53.49
31-Mar-21	159.00	179.00	33.93	98.43	91.98	37.46
31-Mar-22	236.48	198.36	35.63	134.04	100.17	37.28
30-Sep-22	280.20	99.25	13.59	148.93	115.07	50.52
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)

99.35%

66.39%

Promoter Shareholding (Post-Issue)

53.21%

P/E Ratio

21.84

17.34

Market Cap

₹593.35 Cr.

₹1062.41 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Global Surfaces IPO retail investors (RII) are offered 38,74,500 shares while in Radiant Cash Management IPO retail investors are offered 38,74,500 shares. Qualified institutional buyers (QIB) are offered 22,14,000 shares in Global Surfaces IPO and 78,37,121 shares in Radiant Cash Management IPO.

	Global Surfaces IPO	Radiant Cash Management IPO
Anchor Investor Reserveration	33,21,000 shares
Market Maker Reserveration
QIB	22,14,000 shares	78,37,121 shares
NII	16,60,500 shares	58,77,841 shares
RII	38,74,500 shares	1,37,14,963 shares
Employee	0 shares	0 shares
Others
Total	77,49,000 shares	2,74,29,925 shares

Bids Received (Subscription)

Global Surfaces IPO subscribed 12.21x in total, whereas Radiant Cash Management IPO subscribed 0.53x.

	Global Surfaces IPO	Radiant Cash Management IPO
QIB (times)	8.95x	1.01x
NII (times)	33.10x	0.66x
Big NII (times)	35.00x	0.94x
Small NII (times)	29.29x	0.09x
RII (times)	5.12x	0.21x
Employee (times)
Other (times)
Total (times)	12.21x	0.53x

Compare with others

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

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