Neelam Linens IPO vs Usha Financial IPO

Comparison between Neelam Linens IPO and Usha Financial IPO.

IPO Details

Neelam Linens IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Usha Financial IPO is a SME Bookbuilding proposed to list at NSE SME.

	Neelam Linens IPO	Usha Financial IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	NSE SME	NSE SME
Lead Managers	Expert Global Consultants Pvt.Ltd.	Unistone Capital Pvt.Ltd.
Registrar	Purva Sharegistry (India) Pvt.Ltd.	Skyline Financial Services Pvt.Ltd.
Market Maker	Globalworth Securities Ltd.	SS Corporate Securities Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Neelam Linens IPO is up to ₹12.34 Cr whereas the issue size of the Usha Financial IPO is up to ₹93.06 Cr. The final issue price of Neelam Linens IPO is ₹24.00 per share and of Usha Financial IPO is ₹168.00 per share.

	Neelam Linens IPO	Usha Financial IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹20.00 per share	₹160.00 per share
Issue Price (Upper)	₹24.00 per share	₹168.00 per share
Issue Price (Final)	₹24.00 per share	₹168.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	6000 shares	800 shares
Fresh Issue Size	51,42,000 shares	55,39,200 shares
Fresh Issue Size (Amount)	up to ₹12.34 Cr	up to ₹93.06 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	51,42,000 shares	55,39,200 shares
Issue Size Total (Amount)	up to ₹12.34 Cr	up to ₹93.06 Cr

IPO Timetable

Neelam Linens IPO opens on Nov 08, 2024, while Usha Financial IPO opens on Oct 24, 2024. The closing date of Neelam Linens IPO and Usha Financial IPO is Nov 12, 2024, and Oct 28, 2024, respectively.

	Neelam Linens IPO	Usha Financial IPO
Anchor Bid Date	Nov 07, 2024	Oct 23, 2024
Issue Open	Nov 08, 2024	Oct 24, 2024
Issue Close	Nov 12, 2024	Oct 28, 2024
Basis Of Allotment (Tentative)	Nov 13, 2024	Oct 29, 2024
Initiation of Refunds (Tentative)	Nov 14, 2024	Oct 30, 2024
Credit of Share (Tentative)	Nov 14, 2024	Oct 30, 2024
Listing date (Tentative)	Nov 18, 2024	Oct 31, 2024
Anchor Lockin End date 1	Dec 13, 2024	Nov 28, 2024
Anchor Lockin End date 2	Feb 11, 2025	Jan 27, 2025

Financials & KPIs

Neelam Linens IPO P/E ratio is 14.44, as compared to Usha Financial IPO P/E ratio of 19.83.

Neelam Linens IPO

Usha Financial IPO

Financials

Neelam Linens and Garments (India) Ltd Financial Information (Restated Consolidated)

Neelam Linens and Garments (India) Ltd's revenue decreased by -0.63% and profit after tax (PAT) rose by 3.43% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	12,050.23	12,116.76	9,967.97	7,860.13	6,467.92
Total Income	2,195.39	10,474.42	10,541.13	10,379.69	8,017.82
Profit After Tax	80.46	246.05	237.88	298.58	41.53
Net Worth	2,428.80	2,348.34	2,102.30	1,468.42	1,169.84
Reserves and Surplus	948.80	868.34	1,362.30	1,448.42	1,149.84
Total Borrowing	7,566.04	6,964.94	6,534.02	5,110.22	5,259.22
Amount in ₹ Lakhs

Usha Financial Services Limited Financial Information (Restated)

Usha Financial Services Limited's revenue increased by 38% and profit after tax (PAT) rose by 32% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Sep 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	35,133.66	33,585.81	37,222.64	16,428.07
Total Income	2,681.26	6,396.05	4,618.73	2,531.36
Profit After Tax	504.16	1,344.95	1,016.55	414.42
Net Worth	11,106.79	10,602.63	8,207.38	4,767.58
Reserves and Surplus	9,519.03	9,014.87	7,265.57	4,109.41
Total Borrowing	18,861.94	18,128.22	24,751.41	9,723.22
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

74.18

98.91

Promoter Shareholding (Post-Issue)

54.29

72.24

P/E Ratio

14.44

19.83

Market Cap

₹48.52 Cr.

₹365.19 Cr.

ROE

2.99%

9.29%

ROCE

3.84%

12.02%

Debt/Equity

3.12

1.70

EPS

₹1.66

₹8.47

RoNW

3.31%

9.29%

Shares Offered

In the Neelam Linens IPO Retail Individual Investors (RII) are offered 18,00,000 shares while in Usha Financial IPO retail investors are offered 18,00,000 shares. Qualified Institutional Buyers (QIB) are offered 10,32,000 shares in Neelam Linens IPO and 11,08,000 shares in Usha Financial IPO.

	Neelam Linens IPO	Usha Financial IPO
Anchor Investor Reserveration	15,36,000 shares	16,60,800 shares
Market Maker Reserveration	2,76,000 shares	3,20,800 shares
QIB	10,32,000 shares	11,08,000 shares
NII	7,74,000 shares	8,31,200 shares
RII	18,00,000 shares	19,39,200 shares
Employee
Others
Total	51,42,000 shares	55,39,200 shares

Bids Received (Subscription)

Neelam Linens IPO subscribed 91.97x in total, whereas Usha Financial IPO subscribed 19.37x.

	Neelam Linens IPO	Usha Financial IPO
QIB (times)	15.40x	10.04x
NII (times)	273.47x	28.55x
Big NII (times)
Small NII (times)
RII (times)	57.82x	20.76x
Employee (times)
Other (times)
Total (times)	91.97x	19.37x

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