Electro Force IPO vs Trident Techlabs IPO

Comparison between Electro Force IPO and Trident Techlabs IPO.

IPO Details

Electro Force IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Trident Techlabs IPO is a SME Bookbuilding proposed to list at NSE SME.

	Electro Force IPO	Trident Techlabs IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price	Bookbuilding
Listing At	NSE SME	NSE SME
Lead Managers	First Overseas Capital Ltd.	GYR Capital Advisors Pvt.Ltd.
Registrar	Skyline Financial Services Pvt.Ltd.	Maashitla Securities Pvt.Ltd.
Market Maker	Arham Shares Pvt.Ltd.	Giriraj Stock Broking Pvt.Ltd.
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 Electro Force IPO is up to ₹76.62 Cr whereas the issue size of the Trident Techlabs IPO is up to ₹14.77 Cr. The final issue price of Electro Force IPO is ₹93.00 per share and of Trident Techlabs IPO is ₹35.00 per share.

	Electro Force IPO	Trident Techlabs IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)		₹33.00 per share
Issue Price (Upper)		₹35.00 per share
Issue Price (Final)	₹93.00 per share	₹35.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1200 shares	4000 shares
Fresh Issue Size	55,64,400 shares	42,20,000 shares
Fresh Issue Size (Amount)	up to ₹51.75 Cr	up to ₹14.77 Cr
OFS Issue Size	26,74,800 shares	0 shares
OFS Issue Size (Amount)	up to ₹24.88 Cr	up to ₹0.00 Cr
Issue Size Total	82,39,200 shares	42,20,000 shares
Issue Size Total (Amount)	up to ₹76.62 Cr	up to ₹14.77 Cr

IPO Timetable

Electro Force IPO opens on Dec 19, 2023, while Trident Techlabs IPO opens on Dec 21, 2023. The closing date of Electro Force IPO and Trident Techlabs IPO is Dec 21, 2023, and Dec 26, 2023, respectively.

	Electro Force IPO	Trident Techlabs IPO
Anchor Bid Date		Dec 20, 2023
Issue Open	Dec 19, 2023	Dec 21, 2023
Issue Close	Dec 21, 2023	Dec 26, 2023
Basis Of Allotment (Tentative)	Dec 22, 2023	Dec 27, 2023
Initiation of Refunds (Tentative)	Dec 26, 2023	Dec 28, 2023
Credit of Share (Tentative)	Dec 26, 2023	Dec 28, 2023
Listing date (Tentative)	Dec 27, 2023	Dec 29, 2023
Anchor Lockin End date 1		Jan 26, 2024
Anchor Lockin End date 2		Mar 26, 2024

Financials & KPIs

Electro Force IPO P/E ratio is 20.22, as compared to Trident Techlabs IPO P/E ratio of 7.42.

Electro Force IPO

Trident Techlabs IPO

Financials

Electro Force (India) Limited Financial Information (Restated)

Electro Force (India) Limited's revenue decreased by -12.04% and profit after tax (PAT) dropped by -7.48% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	7,827.00	7,231.51	4,783.37	1,719.96
Total Income	2,314.19	3,028.81	3,443.55	1,587.13
Profit After Tax	711.08	799.60	864.26	-223.69
Net Worth	2,546.41	1,835.33	1,035.73	171.47
Reserves and Surplus	806.41	95.33	535.73	-328.53
Total Borrowing
Amount in ₹ Lakhs

Trident Techlabs Limited Financial Information (Restated)

Trident Techlabs Limited's revenue increased by 128.4% and profit after tax (PAT) rose by 760.3% 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	6,144.08	4,981.46	5,544.66	5,913.69
Total Income	2,114.33	6,824.16	2,987.80	2,833.98
Profit After Tax	266.13	554.81	64.49	-32.69
Net Worth	2,470.68	1,653.73	1,383.57	1,318.11
Reserves and Surplus	1,200.57	1,609.86	1,055.05	990.56
Total Borrowing	2,532.47	2,299.60	2,959.99	3,044.34
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00

92.48

Promoter Shareholding (Post-Issue)

62.93

P/E Ratio

20.22

7.42

Market Cap

₹217.62 Cr.

₹60.48 Cr.

ROE

43.57%

34.41%

ROCE

58.23%

23.67%

Debt/Equity

0.84

EPS

₹4.60

₹4.72

RoNW

43.57%

29.36%

Shares Offered

In the Electro Force IPO Retail Individual Investors (RII) are offered 41,19,600 shares while in Trident Techlabs IPO retail investors are offered 41,19,600 shares. Qualified Institutional Buyers (QIB) are offered in Electro Force IPO and 8,04,000 shares in Trident Techlabs IPO.

	Electro Force IPO	Trident Techlabs IPO
Anchor Investor Reserveration		12,04,000 shares
Market Maker Reserveration	4,35,600 shares	3,60,000 shares
QIB		8,04,000 shares
NII	41,19,600 shares	6,64,000 shares
RII	41,19,600 shares	15,48,000 shares
Employee
Others
Total	82,39,200 shares	42,20,000 shares

Bids Received (Subscription)

Electro Force IPO subscribed 4.28x in total, whereas Trident Techlabs IPO subscribed 763.30x.

	Electro Force IPO	Trident Techlabs IPO
QIB (times)		117.91x
NII (times)	2.12x	854.37x
Big NII (times)
Small NII (times)
RII (times)	6.44x	1,059.43x
Employee (times)
Other (times)
Total (times)	4.28x	763.30x

Compare with others

Electro Force IPO	Trident Techlabs IPO
AIK Pipes IPO	Indifra IPO
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Sameera Agro IPO	Supreme Power Equipment IPO
Supreme Power Equipment IPO	Sahara Maritime IPO
Sahara Maritime IPO	Electro Force IPO
Trident Techlabs IPO	Shree OSFM E-Mobility IPO
Shree OSFM E-Mobility IPO	Siyaram Recycling Industries IPO
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Presstonic Engineering IPO	S J Logistics IPO
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