Comparison between Nikita Papers IPO and Workmates Core2Cloud IPO.
Nikita Papers IPO is a SME Bookbuilding IPO proposed to list at NSE SME while Workmates Core2Cloud IPO is a SME Bookbuilding proposed to list at BSE SME.
| Nikita Papers IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | NSE SME | BSE SME |
| Lead Managers | Novus Capital Advisors Private Limited | Horizon Management Pvt.Ltd. |
| Registrar | Skyline Financial Services Pvt.Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | Rikhav Securities Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Nikita Papers IPO is up to ₹64.15 Cr whereas the issue size of the Workmates Core2Cloud IPO is up to ₹66.34 Cr. The final issue price of Nikita Papers IPO is ₹104.00 per share and of Workmates Core2Cloud IPO is ₹204.00 per share.
| Nikita Papers IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹95.00 per share | ₹200.00 per share |
| Issue Price (Upper) | ₹104.00 per share | ₹204.00 per share |
| Issue Price (Final) | ₹104.00 per share | ₹204.00 per share |
| Discount (Retail) | ₹0.00 per share | |
| Discount (Employee) | ||
| Market Lot Size | 1200 shares | 600 shares |
| Fresh Issue Size | 61,68,000 shares | 27,37,200 shares |
| Fresh Issue Size (Amount) | up to ₹64.15 Cr | up to ₹55.84 Cr |
| OFS Issue Size | 0 shares | 5,14,800 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹10.50 Cr |
| Issue Size Total | 61,68,000 shares | 32,52,000 shares |
| Issue Size Total (Amount) | up to ₹64.15 Cr | up to ₹66.34 Cr |
Nikita Papers IPO opens on May 27, 2025, while Workmates Core2Cloud IPO opens on Nov 11, 2025. The closing date of Nikita Papers IPO and Workmates Core2Cloud IPO is May 29, 2025, and Nov 13, 2025, respectively.
| Nikita Papers IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Bid Date | May 26, 2025 | Nov 10, 2025 |
| Issue Open | May 27, 2025 | Nov 11, 2025 |
| Issue Close | May 29, 2025 | Nov 13, 2025 |
| Basis Of Allotment (Tentative) | May 30, 2025 | Nov 14, 2025 |
| Initiation of Refunds (Tentative) | Jun 02, 2025 | Nov 17, 2025 |
| Credit of Share (Tentative) | Jun 02, 2025 | Nov 17, 2025 |
| Listing date (Tentative) | Jun 03, 2025 | Nov 18, 2025 |
| Anchor Lockin End date 1 | Jun 30, 2025 | Dec 13, 2025 |
| Anchor Lockin End date 2 | Aug 28, 2025 | Feb 11, 2026 |
Nikita Papers IPO P/E ratio is 11.39, as compared to Workmates Core2Cloud IPO P/E ratio of 14.66.
| Nikita Papers IPO | Workmates Core2Cloud IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)
| Company Financials (Restated Consolidated)Workmates Core2Cloud Solution Ltd.'s revenue increased by 102% and profit after tax (PAT) rose by 160% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 80.38 | 98.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 59.21 | 72.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.39 | 14.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹256.55 Cr. | ₹263.54 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 21.45% | 67.44% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 28.71% | 64.61% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.45 | 0.38 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹9.13 | ₹13.91 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 21.45% | 60.85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Nikita Papers IPO Retail Individual Investors (RII) are offered 21,58,800 shares while in Workmates Core2Cloud IPO retail investors are offered 21,58,800 shares. Qualified Institutional Buyers (QIB) are offered 22,15,200 shares in Nikita Papers IPO and 6,62,400 shares in Workmates Core2Cloud IPO.
| Nikita Papers IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Investor Reservation | 8,68,800 shares | 9,60,000 shares |
| Market Maker Reservation | 3,26,400 shares | 1,71,600 shares |
| QIB | 22,15,200 shares | 6,62,400 shares |
| NII | 9,25,200 shares | 4,89,600 shares |
| RII | 21,58,800 shares | 11,40,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 61,68,000 shares | 32,52,000 shares |
Nikita Papers IPO subscribed 1.43x in total, whereas Workmates Core2Cloud IPO subscribed 141.38x.
| Nikita Papers IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| QIB (times) | 0.74x | 147.03x |
| NII (times) | 2.11x | 202.96x |
| Big NII (times) | 244.88x | |
| Small NII (times) | 119.11x | |
| RII (times) | 1.84x | 111.64x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.43x | 141.38x |
