Maiden Forgings IPO vs Sotac Pharmaceuticals IPO

Comparison between Maiden Forgings IPO and Sotac Pharmaceuticals IPO.

IPO Details

Maiden Forgings IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Sotac Pharmaceuticals IPO is a SME Bookbuilding proposed to list at NSE SME.

	Maiden Forgings IPO	Sotac Pharmaceuticals IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	BSE SME	NSE SME
Lead Managers	Share India Capital Services Pvt.Ltd.	Beeline Capital Advisors Pvt.Ltd.
Registrar	Maashitla Securities Pvt.Ltd.	Kfin Technologies Ltd.
Market Maker	Share India Securities Ltd.	Sunflower Broking Pvt.Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor		Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Maiden Forgings IPO is up to ₹22.64 Cr whereas the issue size of the Sotac Pharmaceuticals IPO is up to ₹31.64 Cr. The final issue price of Maiden Forgings IPO is ₹63.00 per share and of Sotac Pharmaceuticals IPO is ₹111.00 per share.

	Maiden Forgings IPO	Sotac Pharmaceuticals IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹60.00 per share	₹105.00 per share
Issue Price (Upper)	₹63.00 per share	₹111.00 per share
Issue Price (Final)	₹63.00 per share	₹111.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	2000 shares	1200 shares
Fresh Issue Size	35,94,000 shares	28,50,000 shares
Fresh Issue Size (Amount)	up to ₹22.64 Cr	up to ₹31.64 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	35,94,000 shares	28,50,000 shares
Issue Size Total (Amount)	up to ₹22.64 Cr	up to ₹31.64 Cr

IPO Timetable

Maiden Forgings IPO opens on Mar 23, 2023, while Sotac Pharmaceuticals IPO opens on Mar 29, 2023. The closing date of Maiden Forgings IPO and Sotac Pharmaceuticals IPO is Mar 27, 2023, and Apr 03, 2023, respectively.

	Maiden Forgings IPO	Sotac Pharmaceuticals IPO
Anchor Bid Date		Mar 28, 2023
Issue Open	Mar 23, 2023	Mar 29, 2023
Issue Close	Mar 27, 2023	Apr 03, 2023
Basis Of Allotment (Tentative)	Mar 31, 2023	Apr 10, 2023
Initiation of Refunds (Tentative)	Apr 03, 2023	Apr 11, 2023
Credit of Share (Tentative)	Apr 05, 2023	Apr 12, 2023
Listing date (Tentative)	Apr 06, 2023	Apr 13, 2023
Anchor Lockin End date 1		May 10, 2023
Anchor Lockin End date 2		Jul 09, 2023

Financials & KPIs

Maiden Forgings IPO P/E ratio is 8.38, as compared to Sotac Pharmaceuticals IPO P/E ratio of 132.14.

Maiden Forgings IPO

Sotac Pharmaceuticals IPO

Financials

Maiden Forgings Limited Financial Information (Restated Standalone)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	9,890.05	20,440.37	165.95	2,136.92	1,672.02	5,788.13
31-Mar-21	10,484.25	19,937.49	168.94	2,899.11	2,377.71	5,428.93
31-Mar-22	11,014.23	21,083.72	213.94	3,113.05	2,591.65	6,170.75
31-Dec-22	12,595.69	16,381.04	801.51	3,914.56	2,871.76	6,525.17
Amount in ₹ Lakhs

Sotac Pharmaceuticals Limited Financial Information (Restated Consolidated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	3,038.21	2,882.64	8.75	305.73	75.73	15.13
31-Mar-21	3,469.75	4,894.97	-236.54	249.36	19.36	1,035.80
31-Mar-22	3,525.35	7,337.02	287.86	662.19	432.19	1,134.59
30-Sep-22	6,461.60	3,994.65	46.55	797.41	567.41	2,185.52
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100

84.63

Promoter Shareholding (Post-Issue)

73.37

P/E Ratio

8.38

132.14

Market Cap

₹89.54 Cr.

₹122.66 Cr.

ROE

6.38%

ROCE

19.03%

Debt/Equity

2.74

EPS

RoNW

Shares Offered

In the Maiden Forgings IPO Retail Individual Investors (RII) are offered 22,64,000 shares while in Sotac Pharmaceuticals IPO retail investors are offered 22,64,000 shares. Qualified Institutional Buyers (QIB) are offered 3,60,000 shares in Maiden Forgings IPO and 5,70,000 shares in Sotac Pharmaceuticals IPO.

	Maiden Forgings IPO	Sotac Pharmaceuticals IPO
Anchor Investor Reserveration		8,53,200 shares
Market Maker Reserveration	1,90,000 shares	1,50,000 shares
QIB	3,60,000 shares	5,70,000 shares
NII	9,70,000 shares	4,28,400 shares
RII	22,64,000 shares	9,98,400 shares
Employee
Others
Total	35,94,000 shares	28,50,000 shares

Bids Received (Subscription)

Maiden Forgings IPO subscribed 1.20x in total, whereas Sotac Pharmaceuticals IPO subscribed 1.60x.

	Maiden Forgings IPO	Sotac Pharmaceuticals IPO
QIB (times)	1.00x	1.00x
NII (times)	1.42x	4.04x
Big NII (times)
Small NII (times)
RII (times)	1.12x	0.91x
Employee (times)
Other (times)
Total (times)	1.20x	1.60x

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