Comparison between Clear Secured IPO and Earkart IPO.
Clear Secured IPO is a SME Fixed Price IPO proposed to list at NSE SME while Earkart IPO is a SME Fixed Price proposed to list at BSE SME.
| Clear Secured IPO | Earkart IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Horizon Management Pvt.Ltd. | Sarthi Capital Advisors Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | Skyline Financial Services Pvt.Ltd. |
| Market Maker | Choice Equity Broking Pvt.Ltd. | Rikhav Securities Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | 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 Earkart IPO is up to ₹46.76 Cr. The final issue price of Clear Secured IPO is ₹132.00 per share and of Earkart IPO is ₹135.00 per share.
| Clear Secured IPO | Earkart 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 | ₹135.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 1000 shares |
| Fresh Issue Size | 61,60,000 shares | 31,30,000 shares |
| Fresh Issue Size (Amount) | up to ₹81.31 Cr | up to ₹42.26 Cr |
| OFS Issue Size | 0 shares | 3,34,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹4.51 Cr |
| Issue Size Total | 61,60,000 shares | 34,64,000 shares |
| Issue Size Total (Amount) | up to ₹81.31 Cr | up to ₹46.76 Cr |
Clear Secured IPO opens on Dec 01, 2025, while Earkart IPO opens on Sep 25, 2025. The closing date of Clear Secured IPO and Earkart IPO is Dec 03, 2025, and Sep 29, 2025, respectively.
| Clear Secured IPO | Earkart IPO | |
|---|---|---|
| Anchor Bid Date | Nov 28, 2025 | |
| Issue Open | Dec 01, 2025 | Sep 25, 2025 |
| Issue Close | Dec 03, 2025 | Sep 29, 2025 |
| Basis Of Allotment (Tentative) | Dec 04, 2025 | Sep 30, 2025 |
| Initiation of Refunds (Tentative) | Dec 05, 2025 | Oct 01, 2025 |
| Credit of Share (Tentative) | Dec 05, 2025 | Oct 01, 2025 |
| Listing date (Tentative) | Dec 08, 2025 | Oct 03, 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 Earkart IPO P/E ratio of 20.48.
| Clear Secured IPO | Earkart 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)Earkart Ltd.'s revenue increased by 35% and profit after tax (PAT) rose by 125% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 99.84 | 78.75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 73.03 | 57.34 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 23.36 | 20.48 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹317.42 Cr. | ₹185.68 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 10.74% | 34.55% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 23.46% | 47.32% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.02 | 0.26 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.65 | ₹6.59 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 10.74% | 34.55% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Clear Secured IPO Retail Individual Investors (RII) are offered 21,56,000 shares while in Earkart IPO retail investors are offered 21,56,000 shares. Qualified Institutional Buyers (QIB) are offered 12,32,000 shares in Clear Secured IPO and 0 shares in Earkart IPO.
| Clear Secured IPO | Earkart IPO | |
|---|---|---|
| Anchor Investor Reservation | 18,48,000 shares | 0 shares |
| Market Maker Reservation | 3,25,000 shares | 1,85,000 shares |
| QIB | 12,32,000 shares | 0 shares |
| NII | 9,24,000 shares | 17,32,000 shares |
| RII | 21,56,000 shares | 17,32,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 61,60,000 shares | 34,64,000 shares |
Clear Secured IPO subscribed 8.83x in total, whereas Earkart IPO subscribed 1.28x.
| Clear Secured IPO | Earkart IPO | |
|---|---|---|
| QIB (times) | 9.98x | |
| NII (times) | 12.51x | 2.20x |
| Big NII (times) | 14.66x | |
| Small NII (times) | 8.20x | |
| RII (times) | 6.60x | 0.35x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 8.83x | 1.28x |
