Innokaiz India IPO vs Vasa Denticity IPO

Comparison between Innokaiz India IPO and Vasa Denticity IPO.

IPO Details

Innokaiz India IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Vasa Denticity IPO is a SME Bookbuilding proposed to list at NSE SME.

	Innokaiz India IPO	Vasa Denticity IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	BSE SME	NSE SME
Lead Managers	Gretex Corporate Services Ltd.	Hem Securities Ltd.
Registrar	Bigshare Services Pvt.Ltd.	MAS Services Ltd.
Market Maker	Gretex Share Broking Pvt.Ltd.	Hem Finlease Pvt.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 Innokaiz India IPO is up to ₹20.11 Cr whereas the issue size of the Vasa Denticity IPO is up to ₹51.30 Cr. The final issue price of Innokaiz India IPO is ₹78.00 per share and of Vasa Denticity IPO is ₹128.00 per share.

	Innokaiz India IPO	Vasa Denticity IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹76.00 per share	₹121.00 per share
Issue Price (Upper)	₹78.00 per share	₹128.00 per share
Issue Price (Final)	₹78.00 per share	₹128.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1600 shares	1000 shares
Fresh Issue Size	25,77,600 shares	29,58,000 shares
Fresh Issue Size (Amount)	up to ₹20.11 Cr	up to ₹37.86 Cr
OFS Issue Size	0 shares	10,50,000 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹13.44 Cr
Issue Size Total	25,77,600 shares	40,08,000 shares
Issue Size Total (Amount)	up to ₹20.11 Cr	up to ₹51.30 Cr

IPO Timetable

Innokaiz India IPO opens on Apr 28, 2023, while Vasa Denticity IPO opens on May 23, 2023. The closing date of Innokaiz India IPO and Vasa Denticity IPO is May 03, 2023, and May 25, 2023, respectively.

	Innokaiz India IPO	Vasa Denticity IPO
Anchor Bid Date	Apr 27, 2023	May 22, 2023
Issue Open	Apr 28, 2023	May 23, 2023
Issue Close	May 03, 2023	May 25, 2023
Basis Of Allotment (Tentative)	May 08, 2023	May 30, 2023
Initiation of Refunds (Tentative)	May 09, 2023	May 31, 2023
Credit of Share (Tentative)	May 10, 2023	Jun 01, 2023
Listing date (Tentative)	May 11, 2023	Jun 02, 2023
Anchor Lockin End date 1	Jun 07, 2023	Jun 29, 2023
Anchor Lockin End date 2	Aug 06, 2023	Aug 28, 2023

Financials & KPIs

Innokaiz India IPO P/E ratio is , as compared to Vasa Denticity IPO P/E ratio of 30.62.

Innokaiz India IPO

Vasa Denticity IPO

Financials

Innokaiz India Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	2,568.38	13,872.44	361.55	541.93	540.93	110.60
31-Mar-21	3,871.07	18,506.21	509.15	1,051.09	1,050.09	103.52
31-Mar-22	4,972.47	28,609.09	791.63	1,842.72	1,841.72	132.17
31-Oct-22	4,763.15	14,883.52	610.28	2,453.00	1,702.00	93.62
Amount in ₹ Lakhs

Vasa Denticity Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	481.78	3,045.13	9.44	27.20	7.20	64.57
31-Mar-21	691.05	4,017.72	32.58	59.78	39.78	197.24
31-Mar-22	1,945.91	7,714.08	540.98	600.76	580.76	326.29
31-Dec-22	2,695.18	8,757.11	501.90	1,102.66	1,082.66	266.31
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

98.00

95.00

Promoter Shareholding (Post-Issue)

71.99

69.62

P/E Ratio

30.62

Market Cap

₹205.01 Cr.

ROE

0.46%

ROCE

0.54%

Debt/Equity

0.24

EPS

₹4.43

RoNW

90.05%

Shares Offered

In the Innokaiz India IPO Retail Individual Investors (RII) are offered 9,02,400 shares while in Vasa Denticity IPO retail investors are offered 9,02,400 shares. Qualified Institutional Buyers (QIB) are offered 5,15,200 shares in Innokaiz India IPO and 8,02,000 shares in Vasa Denticity IPO.

	Innokaiz India IPO	Vasa Denticity IPO
Anchor Investor Reserveration	7,72,800 shares	12,00,000 shares
Market Maker Reserveration	1,36,000 shares	2,16,000 shares
QIB	5,15,200 shares	8,02,000 shares
NII	3,87,200 shares	6,02,000 shares
RII	9,02,400 shares	14,04,000 shares
Employee
Others
Total	25,77,600 shares	40,08,000 shares

Bids Received (Subscription)

Innokaiz India IPO subscribed 95.08x in total, whereas Vasa Denticity IPO subscribed 73.14x.

	Innokaiz India IPO	Vasa Denticity IPO
QIB (times)	23.93x	37.26x
NII (times)	303.92x	156.09x
Big NII (times)
Small NII (times)
RII (times)	46.10x	58.07x
Employee (times)
Other (times)
Total (times)	95.08x	73.14x

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