Comparison between Clear Secured IPO and Fourfront IPO.
Clear Secured IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Fourfront IPO is a SME Bookbuilding proposed to list at BSE SME.
| Clear Secured IPO | Fourfront 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. | Beeline Capital Advisors Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | Choice Equity 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 Fourfront IPO is up to ₹0.00 Cr. The final issue price of Clear Secured IPO is ₹132.00 per share and of Fourfront IPO is .
| Clear Secured IPO | Fourfront 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 | 65,00,000 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 | 65,00,000 shares |
| Issue Size Total (Amount) | up to ₹81.31 Cr | up to ₹0.00 Cr |
Clear Secured IPO opens on Dec 01, 2025, while Fourfront IPO opens on . The closing date of Clear Secured IPO and Fourfront IPO is Dec 03, 2025, and , respectively.
| Clear Secured IPO | Fourfront 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 Fourfront IPO P/E ratio of .
| Clear Secured IPO | Fourfront 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)
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 99.84 | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 73.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 23.36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹317.42 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 10.74% | 43.88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 23.46% | 53.51% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 1.02 | 0.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹5.65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 10.74% | 37.64% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Clear Secured IPO Retail Individual Investors (RII) are offered 21,56,000 shares while in Fourfront 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 Fourfront IPO.
| Clear Secured IPO | Fourfront 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 Fourfront IPO subscribed .
| Clear Secured IPO | Fourfront 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 |
