Comparison between Neptune Logitek IPO and Workmates Core2Cloud IPO.
Neptune Logitek 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.
| Neptune Logitek 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 | Galactico Corporate Services Ltd. | Horizon Management Pvt.Ltd. |
| Registrar | Bigshare Services Pvt.Ltd. | MUFG Intime India Pvt.Ltd. |
| Market Maker | Asnani Stock Broker Pvt.Ltd. | 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 Neptune Logitek IPO is up to ₹44.29 Cr whereas the issue size of the Workmates Core2Cloud IPO is up to ₹66.34 Cr. The final issue price of Neptune Logitek IPO is ₹126.00 per share and of Workmates Core2Cloud IPO is ₹204.00 per share.
| Neptune Logitek 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) | ₹126.00 per share | ₹204.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 600 shares |
| Fresh Issue Size | 35,15,000 shares | 27,37,200 shares |
| Fresh Issue Size (Amount) | up to ₹44.29 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 | 35,15,000 shares | 32,52,000 shares |
| Issue Size Total (Amount) | up to ₹44.29 Cr | up to ₹66.34 Cr |
Neptune Logitek IPO opens on Dec 15, 2025, while Workmates Core2Cloud IPO opens on Nov 11, 2025. The closing date of Neptune Logitek IPO and Workmates Core2Cloud IPO is Dec 17, 2025, and Nov 13, 2025, respectively.
| Neptune Logitek IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Bid Date | Nov 10, 2025 | |
| Issue Open | Dec 15, 2025 | Nov 11, 2025 |
| Issue Close | Dec 17, 2025 | Nov 13, 2025 |
| Basis Of Allotment (Tentative) | Dec 18, 2025 | Nov 14, 2025 |
| Initiation of Refunds (Tentative) | Dec 19, 2025 | Nov 17, 2025 |
| Credit of Share (Tentative) | Dec 19, 2025 | Nov 17, 2025 |
| Listing date (Tentative) | Dec 22, 2025 | Nov 18, 2025 |
| Anchor Lockin End date 1 | Dec 13, 2025 | |
| Anchor Lockin End date 2 | Feb 11, 2026 |
Neptune Logitek IPO P/E ratio is 13.76, as compared to Workmates Core2Cloud IPO P/E ratio of 14.66.
| Neptune Logitek IPO | Workmates Core2Cloud IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated)Neptune Logitek Ltd.'s revenue increased by 48% and profit after tax (PAT) rose by 254228% 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) | 99.99 | 98.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 72.99 | 72.02 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 13.76 | 14.66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹172.62 Cr. | ₹263.54 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 14.89% | 67.44% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 21.25% | 64.61% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 2.91 | 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹9.16 | ₹13.91 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 45.89% | 60.85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Neptune Logitek IPO Retail Individual Investors (RII) are offered 17,57,500 shares while in Workmates Core2Cloud IPO retail investors are offered 17,57,500 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Neptune Logitek IPO and 6,62,400 shares in Workmates Core2Cloud IPO.
| Neptune Logitek IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| Anchor Investor Reservation | 0 shares | 9,60,000 shares |
| Market Maker Reservation | 1,85,000 shares | 1,71,600 shares |
| QIB | 0 shares | 6,62,400 shares |
| NII | 17,57,500 shares | 4,89,600 shares |
| RII | 17,57,500 shares | 11,40,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 35,15,000 shares | 32,52,000 shares |
Neptune Logitek IPO subscribed 1.61x in total, whereas Workmates Core2Cloud IPO subscribed 141.38x.
| Neptune Logitek IPO | Workmates Core2Cloud IPO | |
|---|---|---|
| QIB (times) | 147.03x | |
| NII (times) | 0.32x | 202.96x |
| Big NII (times) | 244.88x | |
| Small NII (times) | 119.11x | |
| RII (times) | 2.90x | 111.64x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.61x | 141.38x |
