Comparison between Clear Secured IPO and Topsun Energy IPO.
Clear Secured IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Topsun Energy IPO is a SME Bookbuilding proposed to list at BSE SME.
| Clear Secured IPO | Topsun Energy IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Horizon Management Pvt.Ltd. | Interactive Financial Services Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Choice Equity Broking Pvt.Ltd. | Aftertrade Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL |
The total issue size of Clear Secured IPO is up to ₹81.31 Cr whereas the issue size of the Topsun Energy IPO is up to ₹0.00 Cr. The final issue price of Clear Secured IPO is ₹132.00 per share and of Topsun Energy IPO is .
| Clear Secured IPO | Topsun Energy IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹125.00 per share | |
| Issue Price (Upper) | ₹132.00 per share | |
| Issue Price (Final) | ₹132.00 per share | |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | |
| Fresh Issue Size | 61,60,000 shares | 72,00,000 shares |
| Fresh Issue Size (Amount) | up to ₹81.31 Cr | up to ₹0.00 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 61,60,000 shares | 72,00,000 shares |
| Issue Size Total (Amount) | up to ₹81.31 Cr | up to ₹0.00 Cr |
Clear Secured IPO opens on Dec 01, 2025, while Topsun Energy IPO opens on . The closing date of Clear Secured IPO and Topsun Energy IPO is Dec 03, 2025, and , respectively.
| Clear Secured IPO | Topsun Energy IPO | |
|---|---|---|
| Anchor Bid Date | Nov 28, 2025 | |
| Issue Open | Dec 01, 2025 | |
| Issue Close | Dec 03, 2025 | |
| Basis Of Allotment (Tentative) | Dec 04, 2025 | |
| Initiation of Refunds (Tentative) | Dec 05, 2025 | |
| Credit of Share (Tentative) | Dec 05, 2025 | |
| Listing date (Tentative) | Dec 08, 2025 | |
| Anchor Lockin End date 1 | Jan 02, 2026 | |
| Anchor Lockin End date 2 | Mar 03, 2026 |
Clear Secured IPO P/E ratio is 23.36, as compared to Topsun Energy IPO P/E ratio of .
| Clear Secured IPO | Topsun Energy IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)Clear Secured Services Ltd.'s revenue increased by 38% and profit after tax (PAT) dropped by 18% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Standalone)Topsun Energy Ltd.'s revenue increased by 107% and profit after tax (PAT) rose by 281% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 99.84 | 99.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 73.03 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 23.36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹317.42 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 10.74% | 33.02% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 23.46% | 25.36% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.02 | 1.18 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.65 | ₹7.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 10.74% | 28.41% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Clear Secured IPO Retail Individual Investors (RII) are offered 21,56,000 shares while in Topsun Energy IPO retail investors are offered 21,56,000 shares. Qualified Institutional Buyers (QIB) are offered 12,32,000 shares in Clear Secured IPO and in Topsun Energy IPO.
| Clear Secured IPO | Topsun Energy IPO | |
|---|---|---|
| Anchor Investor Reservation | 18,48,000 shares | |
| Market Maker Reservation | 3,25,000 shares | |
| QIB | 12,32,000 shares | |
| NII | 9,24,000 shares | |
| RII | 21,56,000 shares | |
| Employee | 0 shares | |
| Others | ||
| Total | 61,60,000 shares |
Clear Secured IPO subscribed 8.83x in total, whereas Topsun Energy IPO subscribed .
| Clear Secured IPO | Topsun Energy IPO | |
|---|---|---|
| QIB (times) | 9.98x | |
| NII (times) | 12.51x | |
| Big NII (times) | 14.66x | |
| Small NII (times) | 8.20x | |
| RII (times) | 6.60x | |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 8.83x |
