OBSC Perfection IPO vs Usha Financial IPO

Comparison between OBSC Perfection IPO and Usha Financial IPO.

IPO Details

OBSC Perfection 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.

	OBSC Perfection 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	Unistone Capital Pvt.Ltd.	Unistone Capital Pvt.Ltd.
Registrar	Bigshare Services Pvt.Ltd.	Skyline Financial Services Pvt.Ltd.
Market Maker	R.K.Stock Holding Pvt.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 OBSC Perfection IPO is up to ₹62.69 Cr whereas the issue size of the Usha Financial IPO is up to ₹93.06 Cr. The final issue price of OBSC Perfection IPO is ₹100.00 per share and of Usha Financial IPO is ₹168.00 per share.

	OBSC Perfection IPO	Usha Financial IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹95.00 per share	₹160.00 per share
Issue Price (Upper)	₹100.00 per share	₹168.00 per share
Issue Price (Final)	₹100.00 per share	₹168.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1200 shares	800 shares
Fresh Issue Size	62,68,800 shares	55,39,200 shares
Fresh Issue Size (Amount)	up to ₹62.69 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	62,68,800 shares	55,39,200 shares
Issue Size Total (Amount)	up to ₹62.69 Cr	up to ₹93.06 Cr

IPO Timetable

OBSC Perfection IPO opens on Oct 22, 2024, while Usha Financial IPO opens on Oct 24, 2024. The closing date of OBSC Perfection IPO and Usha Financial IPO is Oct 24, 2024, and Oct 28, 2024, respectively.

	OBSC Perfection IPO	Usha Financial IPO
Anchor Bid Date	Oct 21, 2024	Oct 23, 2024
Issue Open	Oct 22, 2024	Oct 24, 2024
Issue Close	Oct 24, 2024	Oct 28, 2024
Basis Of Allotment (Tentative)	Oct 25, 2024	Oct 29, 2024
Initiation of Refunds (Tentative)	Oct 28, 2024	Oct 30, 2024
Credit of Share (Tentative)	Oct 28, 2024	Oct 30, 2024
Listing date (Tentative)	Oct 29, 2024	Oct 31, 2024
Anchor Lockin End date 1	Nov 24, 2024	Nov 28, 2024
Anchor Lockin End date 2	Jan 23, 2025	Jan 27, 2025

Financials & KPIs

OBSC Perfection IPO P/E ratio is 14.62, as compared to Usha Financial IPO P/E ratio of 19.83.

OBSC Perfection IPO

Usha Financial IPO

Financials

OBSC Perfection Limited Financial Information (Restated)

OBSC Perfection Limited's revenue increased by 20% and profit after tax (PAT) rose by 167% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Aug 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	11,066.37	8,650.59	6,916.01	4,847.48
Total Income	5,700.15	11,611.41	9,691.03	5,672.42
Profit After Tax	603.05	1,221.21	457.39	360.11
Net Worth	3,610.15	3,007.1	1,785.89	1,328.47
Reserves and Surplus	1,825.15	1,222.1	595.89	138.47
Total Borrowing	4,967.82	4,147.25	3,340.48	1,897.54
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)

100

98.91

Promoter Shareholding (Post-Issue)

72.24

P/E Ratio

14.62

19.83

Market Cap

₹244.52 Cr.

₹365.19 Cr.

ROE

40.61%

9.29%

ROCE

31.49%

12.02%

Debt/Equity

1.38

1.70

EPS

₹6.84

₹8.47

RoNW

40.61%

9.29%

Shares Offered

In the OBSC Perfection IPO Retail Individual Investors (RII) are offered 21,94,800 shares while in Usha Financial IPO retail investors are offered 21,94,800 shares. Qualified Institutional Buyers (QIB) are offered 12,54,000 shares in OBSC Perfection IPO and 11,08,000 shares in Usha Financial IPO.

	OBSC Perfection IPO	Usha Financial IPO
Anchor Investor Reserveration	18,79,200 shares	16,60,800 shares
Market Maker Reserveration	3,33,600 shares	3,20,800 shares
QIB	12,54,000 shares	11,08,000 shares
NII	9,40,800 shares	8,31,200 shares
RII	21,94,800 shares	19,39,200 shares
Employee
Others
Total	62,68,800 shares	55,39,200 shares

Bids Received (Subscription)

OBSC Perfection IPO subscribed 16.56x in total, whereas Usha Financial IPO subscribed 19.37x.

	OBSC Perfection IPO	Usha Financial IPO
QIB (times)	10.20x	10.04x
NII (times)	25.87x	28.55x
Big NII (times)
Small NII (times)
RII (times)	16.20x	20.76x
Employee (times)
Other (times)
Total (times)	16.56x	19.37x

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