Comparison between Dhillon Freight Carrier IPO and Workmates Core2Cloud IPO.
Dhillon Freight Carrier IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Workmates Core2Cloud IPO is a SME Bookbuilding proposed to list at BSE SME.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Logo |  | |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Fixed Price | Bookbuilding |
| Listing At | BSE SME | BSE SME |
| Lead Managers | Finshore Management Services Ltd. | Horizon Management Pvt.Ltd. |
| Registrar | Kfin Technologies Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | Anant Securities | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Dhillon Freight Carrier IPO is up to ₹9.57 Cr whereas the issue size of the Workmates Core2Cloud IPO is up to ₹66.34 Cr. The final issue price of Dhillon Freight Carrier IPO is ₹72.00 per share and of Workmates Core2Cloud IPO is ₹204.00 per share.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹200.00 per share | |
| Issue Price (Upper) | ₹204.00 per share | |
| Issue Price (Final) | ₹72.00 per share | ₹204.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1600 shares | 600 shares |
| Fresh Issue Size | 13,29,600 shares | 27,37,200 shares |
| Fresh Issue Size (Amount) | up to ₹9.57 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 | 13,29,600 shares | 32,52,000 shares |
| Issue Size Total (Amount) | up to ₹9.57 Cr | up to ₹66.34 Cr |
Dhillon Freight Carrier IPO opens on Sep 29, 2025, while Workmates Core2Cloud IPO opens on Nov 11, 2025. The closing date of Dhillon Freight Carrier IPO and Workmates Core2Cloud IPO is Oct 01, 2025, and Nov 13, 2025, respectively.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Bid Date | Nov 10, 2025 | |
| Issue Open | Sep 29, 2025 | Nov 11, 2025 |
| Issue Close | Oct 01, 2025 | Nov 13, 2025 |
| Basis Of Allotment (Tentative) | Oct 03, 2025 | Nov 14, 2025 |
| Initiation of Refunds (Tentative) | Oct 06, 2025 | Nov 17, 2025 |
| Credit of Share (Tentative) | Oct 06, 2025 | Nov 17, 2025 |
| Listing date (Tentative) | Oct 07, 2025 | Nov 18, 2025 |
| Anchor Lockin End date 1 | Dec 13, 2025 | |
| Anchor Lockin End date 2 | Feb 11, 2026 |
Dhillon Freight Carrier IPO P/E ratio is 10.49, as compared to Workmates Core2Cloud IPO P/E ratio of 14.66.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)Dhillon Freight Carrier Ltd.'s revenue increased by 2% and profit after tax (PAT) rose by 58% between the financial year ending with March 31, 2025 and March 31, 2024.
| 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) | 100 | 98.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 64.29 | 72.02 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 10.49 | 14.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹28.22 Cr. | ₹263.54 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 39.65% | 67.44% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 31.77% | 64.61% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.64 | 0.38 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.86 | ₹13.91 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 33.09% | 60.85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Dhillon Freight Carrier IPO Retail Individual Investors (RII) are offered 6,65,600 shares while in Workmates Core2Cloud IPO retail investors are offered 6,65,600 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Dhillon Freight Carrier IPO and 6,62,400 shares in Workmates Core2Cloud IPO.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 9,60,000 shares |
| Market Maker Reservation | 70,400 shares | 1,71,600 shares |
| QIB | 0 shares | 6,62,400 shares |
| NII | 6,64,000 shares | 4,89,600 shares |
| RII | 6,65,600 shares | 11,40,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 13,29,600 shares | 32,52,000 shares |
Dhillon Freight Carrier IPO subscribed 2.91x in total, whereas Workmates Core2Cloud IPO subscribed 141.38x.
| Dhillon Freight Carrier IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| QIB (times) | 147.03x | |
| NII (times) | 0.96x | 202.96x |
| Big NII (times) | 244.88x | |
| Small NII (times) | 119.11x | |
| RII (times) | 4.87x | 111.64x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 2.91x | 141.38x |
