Radiant Cash Management IPO vs Sula Vineyards IPO

Comparision between Radiant Cash Management IPO and Sula Vineyards IPO.

IPO Details

Radiant Cash Management IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Sula Vineyards IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Radiant Cash Management IPO	Sula Vineyards 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	Iifl Securities Ltd Motilal Oswal Investment Advisors Limited Yes Securities (India) Limited	Kotak Mahindra Capital Company Limited Clsa India Private Limited Iifl Securities Ltd
Registrar	Link Intime India Private Ltd	Kfin Technologies Limited
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 Radiant Cash Management IPO is up to ₹256.64 Cr whereas the issue size of the Sula Vineyards IPO is up to ₹960.35 Cr. The final issue price of Radiant Cash Management IPO is ₹94.00 per share and of Sula Vineyards IPO is ₹357.00 per share.

	Radiant Cash Management IPO	Sula Vineyards IPO
Face Value	₹1 per share	₹2 per share
Issue Price (Lower)	₹94.00 per share	₹340.00 per share
Issue Price (Upper)	₹99.00 per share	₹357.00 per share
Issue Price (Final)	₹94.00 per share	₹357.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	150 shares	42 shares
Fresh Issue Size	54,54,546 shares
Fresh Issue Size (Amount)	up to ₹54.00 Cr
OFS Issue Size	2,12,22,431 shares	2,69,00,530 shares
OFS Issue Size (Amount)	up to ₹202.64 Cr	up to ₹960.35 Cr
Issue Size Total	2,66,76,977 shares	2,69,00,530 shares
Issue Size Total (Amount)	up to ₹256.64 Cr	up to ₹960.35 Cr

IPO Timetable

Radiant Cash Management IPO opens on Dec 23, 2022, while Sula Vineyards IPO opens on Dec 12, 2022. The closing date of Radiant Cash Management IPO and Sula Vineyards IPO is Dec 27, 2022, and Dec 14, 2022, respectively.

	Radiant Cash Management IPO	Sula Vineyards IPO
Anchor Bid Date	Dec 22, 2022	Dec 09, 2022
Issue Open	Dec 23, 2022	Dec 12, 2022
Issue Close	Dec 27, 2022	Dec 14, 2022
Basis Of Allotment (Tentative)	Dec 30, 2022	Dec 19, 2022
Initiation of Refunds (Tentative)	Jan 02, 2023	Dec 20, 2022
Credit of Share (Tentative)	Jan 03, 2023	Dec 21, 2022
Listing date (Tentative)	Jan 04, 2023	Dec 22, 2022
Anchor Lockin End date 1	Jan 29, 2023	Jan 18, 2023
Anchor Lockin End date 2	Mar 30, 2023	Mar 19, 2023

Financials

Radiant Cash Management IPO P/E ratio is 17.34, as compared to Sula Vineyards IPO P/E ratio of 49.24.

Radiant Cash Management IPO

Sula Vineyards IPO

Financial

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

Sula Vineyards Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Total Borrowing
31-Mar-20	831.04	523.21	-15.94	299.95	368.24
31-Mar-21	751.6	421.53	3.01	304.74	301.26
30-Sep-21	717.55	160.46	4.53	344.32	262.45
31-Mar-22	758.56	456.7	52.14	395.26	228.93
30-Sep-22	770.95	225.76	30.51	449.18	214.64
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

66.39%

28.44%

Promoter Shareholding (Post-Issue)

53.21%

27.33%

P/E Ratio

17.34

49.24

Market Cap

₹1062.41 Cr.

₹3005.90 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Radiant Cash Management IPO retail investors (RII) are offered 1,37,14,963 shares while in Sula Vineyards IPO retail investors are offered 1,37,14,963 shares. Qualified institutional buyers (QIB) are offered 78,37,121 shares in Radiant Cash Management IPO and 53,80,106 shares in Sula Vineyards IPO.

	Radiant Cash Management IPO	Sula Vineyards IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	78,37,121 shares	53,80,106 shares
NII	58,77,841 shares	40,35,080 shares
RII	1,37,14,963 shares	94,15,186 shares
Employee	0 shares	0 shares
Others
Total	2,74,29,925 shares	1,88,30,372 shares

Bids Received (Subscription)

Radiant Cash Management IPO subscribed 0.53x in total, whereas Sula Vineyards IPO subscribed 2.33x.

	Radiant Cash Management IPO	Sula Vineyards IPO
QIB (times)	1.01x	4.13x
NII (times)	0.66x	1.51x
Big NII (times)	0.94x	1.69x
Small NII (times)	0.09x	1.15x
RII (times)	0.21x	1.65x
Employee (times)
Other (times)
Total (times)	0.53x	2.33x

Compare with others

Radiant Cash Management IPO	Sula Vineyards IPO
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Elin Electronics IPO	Inox Green Energy IPO
Sula Vineyards IPO	Archean Chemical IPO

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