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Radiant Cash Management IPO vs Sula Vineyards IPO

Comparison between Radiant Cash Management IPO and Sula Vineyards IPO.

IPO Details

Radiant Cash Management IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while Sula Vineyards IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.

 Radiant Cash Management IPOSula Vineyards IPO
LogoRadiant Cash Management IPO LogoSula Vineyards IPO Logo
Issue CategoryMainboardMainboard
Issue TypeIPOIPO
Process TypeBookbuildingBookbuilding
Listing AtBSE, NSEBSE, NSE
Lead ManagersYES Securities (India) Ltd.

Motilal Oswal Investment Advisors Ltd.

IIFL Capital Services Ltd.		IIFL Capital Services Ltd.

CLSA India Pvt.Ltd.

Kotak Mahindra Capital Co.Ltd.
RegistrarMUFG Intime India Pvt.Ltd.Kfin Technologies Ltd.
Market Maker
DRHPDRHP DRHP
RHPRHP RHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor Anchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Radiant Cash Management IPO is up to ₹256.64 Cr whereas the issue size of the Sula Vineyards IPO is up to ₹960.35 Cr. The final issue price of Radiant Cash Management IPO is ₹94.00 per share and of Sula Vineyards IPO is ₹357.00 per share.

 Radiant Cash Management IPOSula Vineyards IPO
Face Value₹1 per share₹2 per share
Issue Price (Lower)₹94.00 per share₹340.00 per share
Issue Price (Upper)₹99.00 per share₹357.00 per share
Issue Price (Final)₹94.00 per share₹357.00 per share
Discount (Retail)₹0.00 per share₹0.00 per share
Discount (Employee)
Market Lot Size150 shares42 shares
Fresh Issue Size54,54,546 shares0 shares
Fresh Issue Size (Amount)up to ₹52.47 Crup to ₹0.00 Cr
OFS Issue Size2,12,22,431 shares2,69,00,530 shares
OFS Issue Size (Amount)up to ₹204.17 Crup to ₹960.35 Cr
Issue Size Total2,66,76,977 shares2,69,00,530 shares
Issue Size Total (Amount)up to ₹256.64 Crup to ₹960.35 Cr

IPO Timetable

Radiant Cash Management IPO opens on Dec 23, 2022, while Sula Vineyards IPO opens on Dec 12, 2022. The closing date of Radiant Cash Management IPO and Sula Vineyards IPO is Dec 27, 2022, and Dec 14, 2022, respectively.

 Radiant Cash Management IPOSula Vineyards IPO
Anchor Bid DateDec 22, 2022Dec 09, 2022
Issue OpenDec 23, 2022Dec 12, 2022
Issue CloseDec 27, 2022Dec 14, 2022
Basis Of Allotment (Tentative)Dec 30, 2022Dec 19, 2022
Initiation of Refunds (Tentative)Jan 02, 2023Dec 20, 2022
Credit of Share (Tentative)Jan 03, 2023Dec 21, 2022
Listing date (Tentative)Jan 04, 2023Dec 22, 2022
Anchor Lockin End date 1Jan 29, 2023Jan 18, 2023
Anchor Lockin End date 2Mar 30, 2023Mar 19, 2023

Financials & KPIs

Radiant Cash Management IPO P/E ratio is 17.34, as compared to Sula Vineyards IPO P/E ratio of 49.24.

 Radiant Cash Management IPOSula Vineyards IPO
Financials

Company Financials (Restated Consolidated)

Period Ended30 Jun 202231 Mar 202231 Mar 202131 Mar 202031 Mar 2019
Assets203.95190.57162.14157.62141.44
Total Income84.38286.97224.16251.78223.13
Profit After Tax15.3238.2132.4336.5025.02
NET Worth155.19139.76127.10119.57105.72
Reserves and Surplus0.000.000.000.000.00
Total Borrowing25.5426.7511.0521.1317.73
Amount in ₹ Crore

Company Financials (Restated)

Period Ended30 Sep 202231 Mar 202230 Sep 202131 Mar 202131 Mar 2020
Assets770.95758.56717.55751.60831.04
Total Income225.76456.70160.46421.53523.21
Profit After Tax30.5152.144.533.01-15.94
NET Worth449.19395.26344.32304.74299.95
Reserves and Surplus0.000.000.00
Total Borrowing214.64228.93262.45301.26368.24
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)66.3928.44
Promoter Shareholding (Post-Issue)53.2127.33
P/E Ratio17.3449.24
Market Cap₹1062.41 Cr.₹3005.90 Cr.
ROE27.3413.19
ROCE33.0720.86
Debt/Equity0.210.58
EPS₹3.77₹6.53
RoNW27.3411.45

Shares Offered

In the Radiant Cash Management IPO Retail Individual Investors (RII) are offered 93,36,942 shares while in Sula Vineyards IPO retail investors are offered 93,36,942 shares. Qualified Institutional Buyers (QIB) are offered 15,82,807 shares in Radiant Cash Management IPO and 53,80,106 shares in Sula Vineyards IPO.

 Radiant Cash Management IPOSula Vineyards IPO
Anchor Investor Reservation1,17,55,681 shares80,70,158 shares
Market Maker Reservation
QIB15,82,807 shares53,80,106 shares
NII40,01,547 shares40,35,080 shares
RII93,36,942 shares94,15,186 shares
Employee
Others
Total2,66,76,977 shares2,69,00,530 shares

Bids Received (Subscription)

Radiant Cash Management IPO subscribed 0.53x in total, whereas Sula Vineyards IPO subscribed 2.33x.

 Radiant Cash Management IPOSula Vineyards IPO
QIB (times)1.01x4.13x
NII (times)0.66x1.51x
Big NII (times)0.94x1.69x
Small NII (times)0.09x1.15x
RII (times)0.21x1.65x
Employee (times)
Other (times)
Total (times)0.53x2.33x

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