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Birdy's IPO vs Varyaa Creations IPO

Comparision between Birdy's IPO and Varyaa Creations IPO.

IPO Details

Birdy's IPO is a SME Fixed Price Issue IPO proposed to list at NSE SME while Varyaa Creations IPO is a SME Fixed Price Issue proposed to list at BSE SME.

  Birdy's IPO Varyaa Creations IPO
Logo Birdy's IPO Logo Varyaa Creations IPO Logo
Issue Category SME SME
Issue Type IPO IPO
Process Type Fixed Price Issue Fixed Price Issue
Listing At NSE SME BSE SME
Lead Managers Inventure Merchant Banker Services Pvt Ltd Inventure Merchant Banker Services Pvt Ltd
Registrar Bigshare Services Pvt Ltd Bigshare Services Pvt Ltd
Market Maker Rikhav Securities Limited Svcm Securities Private Limited
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 Birdy's IPO is up to ₹16.47 Cr whereas the issue size of the Varyaa Creations IPO is up to ₹20.10 Cr. The final issue price of Birdy's IPO is ₹120.00 per share and of Varyaa Creations IPO is ₹150.00 per share.

  Birdy's IPO Varyaa Creations IPO
Face Value ₹10 per share ₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final) ₹120.00 per share ₹150.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size 1200 shares 1000 shares
Fresh Issue Size 13,72,800 shares 13,40,000 shares
Fresh Issue Size (Amount) up to ₹16.47 Cr up to ₹20.10 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total 13,72,800 shares 13,40,000 shares
Issue Size Total (Amount) up to ₹16.47 Cr up to ₹20.10 Cr

IPO Timetable

Birdy's IPO opens on Apr 15, 2024, while Varyaa Creations IPO opens on Apr 22, 2024. The closing date of Birdy's IPO and Varyaa Creations IPO is Apr 18, 2024, and Apr 25, 2024, respectively.

  Birdy's IPO Varyaa Creations IPO
Anchor Bid Date
Issue Open Apr 15, 2024 Apr 22, 2024
Issue Close Apr 18, 2024 Apr 25, 2024
Basis Of Allotment (Tentative) Apr 19, 2024 Apr 26, 2024
Initiation of Refunds (Tentative) Apr 22, 2024 Apr 29, 2024
Credit of Share (Tentative) Apr 22, 2024 Apr 29, 2024
Listing date (Tentative) Apr 23, 2024 Apr 30, 2024
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials

Birdy's IPO P/E ratio is 23.12, as compared to Varyaa Creations IPO P/E ratio of 65.56.

  Birdy's IPO Varyaa Creations IPO
Financial

Grill Splendour Services Limited Financial Information (Restated)

Grill Splendour Services Limited's revenue increased by 32.92% and profit after tax (PAT) rose by 5654.34% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Nov 202331 Mar 202331 Mar 202231 Mar 2021
Assets2,211.54764.02290.59265.98
Revenue885.641,531.621,152.27825.22
Profit After Tax61.65199.103.46-3.63
Net Worth494.98200.791.69-1.77
Reserves and Surplus111.44199.790.69-2.77
Amount in ₹ Lakhs

Varyaa Creations Limited Financial Information (Restated)

Varyaa Creations Limited's revenue increased by 112.55% and profit after tax (PAT) rose by 36.13% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,049.172,000.55143.78218.32
Revenue1,762.49538.03253.1312.05
Profit After Tax351.1178.9357.98-13.06
Net Worth410.5659.45-19.47-77.46
Reserves and Surplus65.5644.45-34.47-92.46
Total Borrowing44.81283.82
Amount in ₹ Lakhs
Promoter Shareholding (Pre-Issue) 49.75% 100.00%
Promoter Shareholding (Post-Issue) 36.64% 72.02%
P/E Ratio 23.12 65.56
Market Cap ₹62.50 Cr. ₹71.85 Cr.
ROE 85.52%%
ROCE 114.57%%
Debt/Equity 1.5
EPS ₹5.19 ₹2.29
RoNW 12.46%% 85.52%%

Shares Offered

In the Birdy's IPO retail investors (RII) are offered 6,51,600 shares while in Varyaa Creations IPO retail investors are offered 6,51,600 shares. Qualified institutional buyers (QIB) are offered 0 shares in Birdy's IPO and 0 shares in Varyaa Creations IPO.

  Birdy's IPO Varyaa Creations IPO
Anchor Investor Reserveration
Market Maker Reserveration 69,600 shares 70,000 shares
QIB 0 shares 0 shares
NII 6,51,600 shares 6,35,000 shares
RII 6,51,600 shares 6,35,000 shares
Employee 0 shares 0 shares
Others
Total 13,03,200 shares 12,70,000 shares

Bids Received (Subscription)

Birdy's IPO subscribed 8.68x in total, whereas Varyaa Creations IPO subscribed 3.59x.

  Birdy's IPO Varyaa Creations IPO
QIB (times)
NII (times) 4.59x 1.08x
Big NII (times)
Small NII (times)
RII (times) 12.78x 6.09x
Employee (times)
Other (times)
Total (times) 8.68x 3.59x

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