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Sunsky Logistics IPO vs Workmates Core2Cloud IPO

Comparison between Sunsky Logistics IPO and Workmates Core2Cloud IPO.

IPO Details

Sunsky Logistics 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.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
LogoSunsky Logistics IPO LogoWorkmates Core2Cloud IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeFixed PriceBookbuilding
Listing AtBSE SMEBSE SME
Lead ManagersNirbhay Capital Services Pvt.Ltd.Horizon Management Pvt.Ltd.
RegistrarKfin Technologies Ltd.MUFG Intime India Pvt.Ltd.
Market MakerRikhav Securities 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 Sunsky Logistics IPO is up to ₹15.98 Cr whereas the issue size of the Workmates Core2Cloud IPO is up to ₹66.34 Cr. The final issue price of Sunsky Logistics IPO is ₹46.00 per share and of Workmates Core2Cloud IPO is ₹204.00 per share.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
Face Value₹2 per share₹10 per share
Issue Price (Lower)₹200.00 per share
Issue Price (Upper)₹204.00 per share
Issue Price (Final)₹46.00 per share₹204.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size3000 shares600 shares
Fresh Issue Size34,74,000 shares27,37,200 shares
Fresh Issue Size (Amount)up to ₹15.98 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 Total34,74,000 shares32,52,000 shares
Issue Size Total (Amount)up to ₹15.98 Crup to ₹66.34 Cr

IPO Timetable

Sunsky Logistics IPO opens on Sep 30, 2025, while Workmates Core2Cloud IPO opens on Nov 11, 2025. The closing date of Sunsky Logistics IPO and Workmates Core2Cloud IPO is Oct 03, 2025, and Nov 13, 2025, respectively.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
Anchor Bid DateNov 10, 2025
Issue OpenSep 30, 2025Nov 11, 2025
Issue CloseOct 03, 2025Nov 13, 2025
Basis Of Allotment (Tentative)Oct 06, 2025Nov 14, 2025
Initiation of Refunds (Tentative)Oct 07, 2025Nov 17, 2025
Credit of Share (Tentative)Oct 07, 2025Nov 17, 2025
Listing date (Tentative)Oct 08, 2025Nov 18, 2025
Anchor Lockin End date 1Dec 13, 2025
Anchor Lockin End date 2Feb 11, 2026

Financials & KPIs

Sunsky Logistics IPO P/E ratio is 15.6, as compared to Workmates Core2Cloud IPO P/E ratio of 14.66.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
Financials

Company Financials (Restated)

Period Ended31 Jul 202531 Mar 202531 Mar 202431 Mar 2023
Assets12.318.225.172.76
Total Income8.4522.2714.8119.38
Profit After Tax1.372.591.250.31
EBITDA1.943.711.950.57
NET Worth5.904.531.990.74
Reserves and Surplus4.142.771.980.74
Total Borrowing3.932.031.771.13
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)9598.1
Promoter Shareholding (Post-Issue)67.0572.02
P/E Ratio15.614.66
Market Cap₹57.20 Cr.₹263.54 Cr.
ROE79.42 67.44
ROCE59.3464.61
Debt/Equity0.450.38
EPS₹2.95₹13.91
RoNW57.1660.85

Shares Offered

In the Sunsky Logistics IPO Retail Individual Investors (RII) are offered 17,46,000 shares while in Workmates Core2Cloud IPO retail investors are offered 17,46,000 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Sunsky Logistics IPO and 6,62,400 shares in Workmates Core2Cloud IPO.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
Anchor Investor Reservation0 shares9,60,000 shares
Market Maker Reservation1,86,000 shares1,71,600 shares
QIB0 shares6,62,400 shares
NII17,28,000 shares4,89,600 shares
RII17,46,000 shares11,40,000 shares
Employee0 shares0 shares
Others
Total34,74,000 shares32,52,000 shares

Bids Received (Subscription)

Sunsky Logistics IPO subscribed 1.46x in total, whereas Workmates Core2Cloud IPO subscribed 99.64x.

 Sunsky Logistics IPOWorkmates Core2Cloud IPO
QIB (times)147.03x
NII (times)2.01x202.96x
Big NII (times)244.88x
Small NII (times)119.11x
RII (times)0.92x111.64x
Employee (times)
Other (times)
Total (times)1.46x99.64x

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Sunsky Logistics IPO Vs Workmates Core2Cloud IPO