Bondada Engineering IPO vs Zeal Global Services IPO

Comparison between Bondada Engineering IPO and Zeal Global Services IPO.

IPO Details

Bondada Engineering IPO is a SME Fixed Price IPO proposed to list at BSE SME while Zeal Global Services IPO is a SME Fixed Price proposed to list at NSE SME.

	Bondada Engineering IPO	Zeal Global Services IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Fixed Price	Fixed Price
Listing At	BSE SME	NSE SME
Lead Managers	Vivro Financial Services Pvt.Ltd.	Expert Global Consultants Pvt.Ltd.
Registrar	Kfin Technologies Ltd.	Skyline Financial Services Pvt.Ltd.
Market Maker	Rikhav Securities Ltd.	Rikhav Securities Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Bondada Engineering IPO is up to ₹40.56 Cr whereas the issue size of the Zeal Global Services IPO is up to ₹34.63 Cr. The final issue price of Bondada Engineering IPO is ₹75.00 per share and of Zeal Global Services IPO is ₹103.00 per share.

	Bondada Engineering IPO	Zeal Global Services IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)
Issue Price (Upper)
Issue Price (Final)	₹75.00 per share	₹103.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	1600 shares	1200 shares
Fresh Issue Size	54,08,000 shares	33,62,400 shares
Fresh Issue Size (Amount)	up to ₹40.56 Cr	up to ₹34.63 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	54,08,000 shares	33,62,400 shares
Issue Size Total (Amount)	up to ₹40.56 Cr	up to ₹34.63 Cr

IPO Timetable

Bondada Engineering IPO opens on Aug 18, 2023, while Zeal Global Services IPO opens on Jul 28, 2023. The closing date of Bondada Engineering IPO and Zeal Global Services IPO is Aug 22, 2023, and Aug 01, 2023, respectively.

	Bondada Engineering IPO	Zeal Global Services IPO
Anchor Bid Date
Issue Open	Aug 18, 2023	Jul 28, 2023
Issue Close	Aug 22, 2023	Aug 01, 2023
Basis Of Allotment (Tentative)	Aug 25, 2023	Aug 04, 2023
Initiation of Refunds (Tentative)	Aug 28, 2023	Aug 07, 2023
Credit of Share (Tentative)	Aug 29, 2023	Aug 08, 2023
Listing date (Tentative)	Aug 30, 2023	Aug 09, 2023
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials & KPIs

Bondada Engineering IPO P/E ratio is 6.56, as compared to Zeal Global Services IPO P/E ratio of 13.83.

Bondada Engineering IPO

Zeal Global Services IPO

Financials

Bondada Engineering IPO Financial Information (Restated Consolidated)
Period Ended	31 Mar 2021	31 Mar 2022	31 Mar 2023
Assets	17,091.69	15,761.73	25,115.46
Total Income	28,832.29	33,420.96	37,095.77
Profit After Tax	920.55	1,013.53	1,825.19
Net Worth	4,775.88	5,789.41	7,837.54
Reserves and Surplus	4,693.88	5,707.41	6,246.93
Total Borrowing	4,667.31	3,803.23	8,422.65

Amount in ₹ Lakhs

Zeal Global Services Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	2,203.03	7,671.09	133.60	435.76	375.76	258.00
31-Mar-21	1,893.07	6,094.93	169.61	603.09	543.09	171.41
31-Mar-22	3,194.82	12,127.77	524.30	1,277.22	1,081.82	194.32
31-Jan-23	4,969.26	9,505.38	826.65	2,115.61	1,920.21	1,243.92
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

86.00

100.00

Promoter Shareholding (Post-Issue)

63.33

73.40

P/E Ratio

6.56

13.83

Market Cap

₹162.02 Cr.

₹137.09 Cr.

ROE

22.77%

39.07%

ROCE

35.63%

0.56

Debt/Equity

1.07

0.59

EPS

₹11.43

₹8.46

RoNW

22.77%

48.73%

Shares Offered

In the Bondada Engineering IPO Retail Individual Investors (RII) are offered 27,04,000 shares while in Zeal Global Services IPO retail investors are offered 27,04,000 shares. Qualified Institutional Buyers (QIB) are offered in Bondada Engineering IPO and in Zeal Global Services IPO.

	Bondada Engineering IPO	Zeal Global Services IPO
Anchor Investor Reserveration
Market Maker Reserveration	2,88,000 shares	1,77,600 shares
QIB
NII	27,04,000 shares	16,80,000 shares
RII	27,04,000 shares	16,82,400 shares
Employee
Others
Total	54,08,000 shares	33,62,400 shares

Bids Received (Subscription)

Bondada Engineering IPO subscribed 112.28x in total, whereas Zeal Global Services IPO subscribed 4.06x.

	Bondada Engineering IPO	Zeal Global Services IPO
QIB (times)
NII (times)	115.46x	4.26x
Big NII (times)
Small NII (times)
RII (times)	100.05x	3.85x
Employee (times)
Other (times)
Total (times)	112.28x	4.06x

Compare with others

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Yudiz Solutions IPO	Vinsys IT IPO
Zeal Global Services IPO	Yasons Chemex Care IPO