Polysil Irrigation Systems IPO vs Thaai Casting IPO

Comparision between Polysil Irrigation Systems IPO and Thaai Casting IPO.

IPO Details

Polysil Irrigation Systems IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Thaai Casting IPO is a SME Book Built Issue proposed to list at NSE SME.

	Polysil Irrigation Systems IPO	Thaai Casting IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Fedex Securities Pvt Ltd	GYR Capital Advisors Private Limited
Registrar	Bigshare Services Pvt Ltd	Purva Sharegistry India Pvt Ltd
Market Maker	Market-Hub Stock Broking Private Limited	Giriraj Stock Broking Private Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor		Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Polysil Irrigation Systems IPO is up to ₹17.44 Cr whereas the issue size of the Thaai Casting IPO is up to ₹47.20 Cr. The final issue price of Polysil Irrigation Systems IPO is ₹54.00 per share and of Thaai Casting IPO is ₹77.00 per share.

	Polysil Irrigation Systems IPO	Thaai Casting IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹73.00 per share
Issue Price (Upper)		₹77.00 per share
Issue Price (Final)	₹54.00 per share	₹77.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	1600 shares
Fresh Issue Size	14,44,000 shares	61,29,600 shares
Fresh Issue Size (Amount)	up to ₹7.80 Cr	up to ₹47.20 Cr
OFS Issue Size	17,85,000 shares
OFS Issue Size (Amount)	up to ₹9.64 Cr
Issue Size Total	32,29,000 shares	61,29,600 shares
Issue Size Total (Amount)	up to ₹17.44 Cr	up to ₹47.20 Cr

IPO Timetable

Polysil Irrigation Systems IPO opens on Feb 08, 2024, while Thaai Casting IPO opens on Feb 15, 2024. The closing date of Polysil Irrigation Systems IPO and Thaai Casting IPO is Feb 13, 2024, and Feb 20, 2024, respectively.

	Polysil Irrigation Systems IPO	Thaai Casting IPO
Anchor Bid Date		Feb 14, 2024
Issue Open	Feb 08, 2024	Feb 15, 2024
Issue Close	Feb 13, 2024	Feb 20, 2024
Basis Of Allotment (Tentative)	Feb 14, 2024	Feb 21, 2024
Initiation of Refunds (Tentative)	Feb 15, 2024	Feb 21, 2024
Credit of Share (Tentative)	Feb 15, 2024	Feb 22, 2024
Listing date (Tentative)	Feb 16, 2024	Feb 23, 2024
Anchor Lockin End date 1		Mar 21, 2024
Anchor Lockin End date 2		May 20, 2024

Financials

Polysil Irrigation Systems IPO P/E ratio is 47.08, as compared to Thaai Casting IPO P/E ratio of 25.99.

Polysil Irrigation Systems IPO

Thaai Casting IPO

Financial

Polysil Irrigation Systems Limited Financial Information (Restated)

Polysil Irrigation Systems Limited's revenue increased by 16.6% and profit after tax (PAT) rose by 236.39% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Aug 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,671.49	5,531.46	4,616.80	4,178.47
Revenue	1,019.74	4,392.49	3,767.21	5,471.58
Profit After Tax	110.31	113.53	33.75	64.81
Net Worth	1,646.02	1,535.71	1,372.06	1,338.31
Reserves and Surplus	656.31	546.00	1,326.56	1,292.82
Total Borrowing	1,566.17	1,547.25	1,494.96	1,104.83
Amount in ₹ Lakhs

Thaai Casting Ltd Financial Information (Restated Standalone)

Thaai Casting Ltd's revenue increased by 27.84% and profit after tax (PAT) rose by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Oct 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	14,638.25	5,498.52	3,752.29	2,379.19
Revenue	4,848.91	4,911.64	3,841.94	2,048.70
Profit After Tax	860.93	503.71	115.40	40.33
Net Worth	4,116.94	1,617.31	894.84	473.46
Reserves and Surplus	620.78
Total Borrowing	7,830.03	2,985.10	2,351.15	1,313.51
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

33.79%

86.50%

Promoter Shareholding (Post-Issue)

29.49%

P/E Ratio

47.08

25.99

Market Cap

₹61.24 Cr.

₹178.10 Cr.

ROE

7.39%%

ROCE

12.81%%

13%%

Debt/Equity

1.01

1.85

EPS

₹1.15

₹2.96

RoNW

7.39%%

40.10%%

Shares Offered

In the Polysil Irrigation Systems IPO retail investors (RII) are offered 15,32,000 shares while in Thaai Casting IPO retail investors are offered 15,32,000 shares. Qualified institutional buyers (QIB) are offered 0 shares in Polysil Irrigation Systems IPO and 11,56,800 shares in Thaai Casting IPO.

	Polysil Irrigation Systems IPO	Thaai Casting IPO
Anchor Investor Reserveration		17,34,400 shares
Market Maker Reserveration	1,64,000 shares	3,47,200 shares
QIB	0 shares	11,56,800 shares
NII	15,32,000 shares	8,67,200 shares
RII	15,32,000 shares	20,24,000 shares
Employee	0 shares	0 shares
Others
Total	30,64,000 shares	40,48,000 shares

Bids Received (Subscription)

Polysil Irrigation Systems IPO subscribed 6.88x in total, whereas Thaai Casting IPO subscribed 375.43x.

	Polysil Irrigation Systems IPO	Thaai Casting IPO
QIB (times)		144.43x
NII (times)	2.12x	729.72x
Big NII (times)
Small NII (times)
RII (times)	11.62x	355.66x
Employee (times)
Other (times)
Total (times)	6.88x	375.43x

Compare with others

Polysil Irrigation Systems IPO	Thaai Casting IPO
Trust Fintech IPO	Zenith Drugs IPO
Interiors and More IPO	Esconet Technologies IPO
Atmastco IPO	Trust Fintech IPO
Thaai Casting IPO	Interiors and More IPO
Kalahridhaan Trendz IPO	Atmastco IPO
Rudra Gas Enterprise IPO	Kalahridhaan Trendz IPO
WTI Cabs IPO	Polysil Irrigation Systems IPO
Alpex Solar IPO	Rudra Gas Enterprise IPO
Italian Edibles IPO	WTI Cabs IPO
Gabriel Pet Straps IPO	Alpex Solar IPO

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