Command Polymers IPO vs Maiden Forgings IPO

Comparison between Command Polymers IPO and Maiden Forgings IPO.

IPO Details

Command Polymers IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Maiden Forgings IPO is a SME Bookbuilding proposed to list at BSE SME.

	Command Polymers IPO	Maiden Forgings IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price	Bookbuilding
Listing At	BSE SME	BSE SME
Lead Managers	Aryaman Financial Services Ltd.	Share India Capital Services Pvt.Ltd.
Registrar	Kfin Technologies Ltd.	Maashitla Securities Pvt.Ltd.
Market Maker	Aryaman Capital Markets Ltd.	Share India Securities Ltd.
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 Command Polymers IPO is up to ₹6.72 Cr whereas the issue size of the Maiden Forgings IPO is up to ₹22.64 Cr. The final issue price of Command Polymers IPO is ₹28.00 per share and of Maiden Forgings IPO is ₹63.00 per share.

	Command Polymers IPO	Maiden Forgings IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹60.00 per share
Issue Price (Upper)		₹63.00 per share
Issue Price (Final)	₹28.00 per share	₹63.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	4000 shares	2000 shares
Fresh Issue Size	24,00,000 shares	35,94,000 shares
Fresh Issue Size (Amount)	up to ₹6.72 Cr	up to ₹22.64 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	24,00,000 shares	35,94,000 shares
Issue Size Total (Amount)	up to ₹6.72 Cr	up to ₹22.64 Cr

IPO Timetable

Command Polymers IPO opens on Mar 17, 2023, while Maiden Forgings IPO opens on Mar 23, 2023. The closing date of Command Polymers IPO and Maiden Forgings IPO is Mar 21, 2023, and Mar 27, 2023, respectively.

	Command Polymers IPO	Maiden Forgings IPO
Anchor Bid Date
Issue Open	Mar 17, 2023	Mar 23, 2023
Issue Close	Mar 21, 2023	Mar 27, 2023
Basis Of Allotment (Tentative)	Mar 24, 2023	Mar 31, 2023
Initiation of Refunds (Tentative)	Mar 27, 2023	Apr 03, 2023
Credit of Share (Tentative)	Mar 28, 2023	Apr 05, 2023
Listing date (Tentative)	Mar 29, 2023	Apr 06, 2023
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials & KPIs

Command Polymers IPO P/E ratio is 121.74, as compared to Maiden Forgings IPO P/E ratio of 8.38.

Command Polymers IPO

Maiden Forgings IPO

Financials

Command Polymers Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	1,640.40	1,089.84	9.43	921.39	236.92	238.57
31-Mar-21	2,252.48	1,636.76	19.64	932.37	247.90	514.25
31-Mar-22	1,889.12	1,948.50	30.02	962.39	277.92	685.14
31-Dec-22	2,225.23	1,460.15	16.16	978.56	294.09	661.04
Amount in ₹ Lakhs

Maiden Forgings Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	9,890.05	20,440.37	165.95	2,136.92	1,672.02	5,788.13
31-Mar-21	10,484.25	19,937.49	168.94	2,899.11	2,377.71	5,428.93
31-Mar-22	11,014.23	21,083.72	213.94	3,113.05	2,591.65	6,170.75
31-Dec-22	12,595.69	16,381.04	801.51	3,914.56	2,871.76	6,525.17
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

52.60

100

Promoter Shareholding (Post-Issue)

38.39

73.37

P/E Ratio

121.74

8.38

Market Cap

₹26.26 Cr.

₹89.54 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Command Polymers IPO Retail Individual Investors (RII) are offered 12,00,000 shares while in Maiden Forgings IPO retail investors are offered 12,00,000 shares. Qualified Institutional Buyers (QIB) are offered in Command Polymers IPO and 3,60,000 shares in Maiden Forgings IPO.

	Command Polymers IPO	Maiden Forgings IPO
Anchor Investor Reserveration
Market Maker Reserveration	1,32,000 shares	1,90,000 shares
QIB		3,60,000 shares
NII	12,00,000 shares	9,70,000 shares
RII	12,00,000 shares	22,64,000 shares
Employee
Others
Total	24,00,000 shares	35,94,000 shares

Bids Received (Subscription)

Command Polymers IPO subscribed 1.39x in total, whereas Maiden Forgings IPO subscribed 1.20x.

	Command Polymers IPO	Maiden Forgings IPO
QIB (times)		1.00x
NII (times)	1.81x	1.42x
Big NII (times)
Small NII (times)
RII (times)	0.98x	1.12x
Employee (times)
Other (times)
Total (times)	1.39x	1.20x

Compare with others

Command Polymers IPO	Maiden Forgings IPO
Exhicon Events Media IPO	Sancode Technologies IPO
Sotac Pharmaceuticals IPO	Exhicon Events Media IPO
MOS Utility IPO	Sotac Pharmaceuticals IPO
Infinium Pharmachem IPO	MOS Utility IPO
Maiden Forgings IPO	Infinium Pharmachem IPO
Dev Labtech Venture IPO	Command Polymers IPO
Nirman Agri Genetics IPO	Dev Labtech Venture IPO
Labelkraft Technologies IPO	Nirman Agri Genetics IPO
VELS Film International IPO	Labelkraft Technologies IPO
Bright Outdoor Media IPO	VELS Film International IPO