Ishan International IPO vs Tapi Fruit Processing IPO

Comparision between Ishan International IPO and Tapi Fruit Processing IPO.

IPO Details

Ishan International IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Tapi Fruit Processing IPO is a SME Fixed Price Issue proposed to list at NSE SME.

	Ishan International IPO	Tapi Fruit Processing IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Fixed Price Issue
Listing At	NSE SME	NSE SME
Lead Managers	First Overseas Capital Limited	Fedex Securities Pvt Ltd
Registrar	Kfin Technologies Limited	Bigshare Services Pvt Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Ishan International IPO is up to ₹18.24 Cr whereas the issue size of the Tapi Fruit Processing IPO is up to ₹5.21 Cr. The final issue price of Ishan International IPO is ₹80.00 per share and of Tapi Fruit Processing IPO is ₹48.00 per share.

	Ishan International IPO	Tapi Fruit Processing IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹80.00 per share	₹48.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1600 shares	3000 shares
Fresh Issue Size	22,80,000 shares	10,86,000 shares
Fresh Issue Size (Amount)	up to ₹18.24 Cr	up to ₹5.21 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	22,80,000 shares	10,86,000 shares
Issue Size Total (Amount)	up to ₹18.24 Cr	up to ₹5.21 Cr

IPO Timetable

Ishan International IPO opens on Sep 09, 2022, while Tapi Fruit Processing IPO opens on Sep 12, 2022. The closing date of Ishan International IPO and Tapi Fruit Processing IPO is Sep 14, 2022, and Sep 14, 2022, respectively.

	Ishan International IPO	Tapi Fruit Processing IPO
Anchor Bid Date
Issue Open	Sep 09, 2022	Sep 12, 2022
Issue Close	Sep 14, 2022	Sep 14, 2022
Basis Of Allotment (Tentative)	Sep 19, 2022	Sep 19, 2022
Initiation of Refunds (Tentative)	Sep 20, 2022	Sep 20, 2022
Credit of Share (Tentative)	Sep 21, 2022	Sep 21, 2022
Listing date (Tentative)	Sep 22, 2022	Sep 22, 2022
Anchor Lockin End date 1	Oct 19, 2022	Oct 19, 2022
Anchor Lockin End date 2	Dec 18, 2022	Dec 18, 2022

Financials

Ishan International IPO P/E ratio is 38.09, as compared to Tapi Fruit Processing IPO P/E ratio of 120.

Ishan International IPO

Tapi Fruit Processing IPO

Financial

Ishan International Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-19	1530.53	2708.4	39.62	452.77	319.06
31-Mar-20	1704.15	2272.56	28.42	481.19	347.48
31-Mar-21	1452.52	2271.2	15.05	496.25	362.54
31-Mar-22	2168.87	2174.31	127.15	619.71	126.93
Amount in ₹ Lakhs

Tapi Fruit Processing Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-20	589.18	1145.69	-0.86	17.36	-7.64
31-Mar-21	737.4	1312.5	10.06	27.42	2.42
31-Mar-22	802.88	1522.09	15.6	43.02	18.02
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

99.61%

99.94%

Promoter Shareholding (Post-Issue)

65.21%

P/E Ratio

38.09

120

Market Cap

₹57.66 Cr.

₹18.79 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Ishan International IPO retail investors (RII) are offered 10,80,000 shares while in Tapi Fruit Processing IPO retail investors are offered 10,80,000 shares. Qualified institutional buyers (QIB) are offered in Ishan International IPO and in Tapi Fruit Processing IPO.

	Ishan International IPO	Tapi Fruit Processing IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,20,000 shares	60 shares
QIB
NII	10,80,000 shares	5,13,000 shares
RII	10,80,000 shares	5,13,000 shares
Employee
Others
Total	21,60,000 shares	10,26,000 shares

Bids Received (Subscription)

Ishan International IPO subscribed 1.62x in total, whereas Tapi Fruit Processing IPO subscribed 2.62x.

	Ishan International IPO	Tapi Fruit Processing IPO
QIB (times)
NII (times)	1.60x	1.93x
Big NII (times)
Small NII (times)
RII (times)	1.65x	3.32x
Employee (times)
Other (times)
Total (times)	1.62x	2.62x

Compare with others

Ishan International IPO	Tapi Fruit Processing IPO
Kandarp Digi Smart BPO IPO	Insolation Energy IPO
Maks Energy IPO	Containe Technologies IPO
Varanium Cloud IPO	Kandarp Digi Smart BPO IPO
Tapi Fruit Processing IPO	Maks Energy IPO
Annapurna Swadisht IPO	Varanium Cloud IPO
Sabar Flex India IPO	Annapurna Swadisht IPO
Shantidoot Infra Services IPO	Ishan International IPO
Mega Flex Plastics IPO	Sabar Flex India IPO
Viviana Power Tech IPO	Shantidoot Infra Services IPO
Virtuoso Optoelectronics IPO	Mega Flex Plastics IPO

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