Four significant Initial Public Offerings (IPOs) are set to open concurrently: Vikram Solar IPO, Gem Aromatics IPO, Shreeji Group IPO, and Patel Retail IPO. This article provides a detailed comparison of these four IPOs, evaluating them across crucial parameters such as financial health, business model, issue size, valuation, and Grey Market Premium (GMP). Our aim is to help you understand their relative strengths and rankings.
Financial Health Analysis
When assessing the financial health of these four IPOs, Vikram Solar IPO emerges as the top contender. The company demonstrates a strong and consistent growth trajectory, with significant year-on-year improvement in its financial health. Notably, its Profit After Tax (PAT) has improved by approximately 75%, and revenue by 37% during fiscal years 2024 and 2025. Following Vikram Solar, Shreeji Group IPO secures the second position, showcasing a healthy balance sheet and consistent growth. Gem Aromatics IPO ranks third in terms of financial health. Patel Retail IPO, while showing some revenue improvement in its balance sheet, is placed fourth in this category.
Financial Health Ranking:
- Vikram Solar IPO
- Shreeji Group IPO
- Gem Aromatics IPO
- Patel Retail IPO
Business Model Evaluation
Analyzing the business models, Vikram Solar IPO, operating in the robust solar sector, is positioned first. Its business model is considered the most promising among the four. Patel Retail IPO takes the second spot, benefiting from its presence in the Fast-Moving Consumer Goods (FMCG) sector. The company is anticipated to gain from upcoming changes in GST rates. Shreeji Group IPO, a company focused on logistics, ranks third. Finally, Gem Aromatics IPO, belonging to the chemical sector, is placed fourth. The chemical sector’s performance is often dependent on factors like raw material costs and geopolitical relations (e.g., India-China relations), which can introduce volatility.
Business Model Ranking:
- Vikram Solar IPO
- Patel Retail IPO
- Shreeji Group IPO
- Gem Aromatics IPO
Issue Size Comparison
In terms of issue size, Vikram Solar IPO stands out with the largest offering of ₹2080 crore, placing it first. Gem Aromatics IPO comes in second with an issue size of ₹451 crore. Shreeji Group IPO is third with ₹411 crore, while Patel Retail IPO holds the fourth position with an issue size of ₹443 crore. It is also important to note that 35% of the shares are reserved for retail investors across all these IPOs, which is higher than the typical 10% or 15%. This higher retail reservation could potentially lead to better allotment chances, with Vikram Solar IPO offering the highest probability, followed by Gem Aromatics IPO, Shreeji Group IPO, and then Patel Retail IPO.
Issue Size Ranking:
- Vikram Solar IPO
- Gem Aromatics IPO
- Shreeji Group IPO
- Patel Retail IPO
Valuation Metrics
Regarding valuation, Shreeji Group IPO is considered the most attractive. Patel Retail IPO is trading at a P/E (Price-to-Earnings) of 25. Gem Aromatics IPO is ranked third in terms of attractive valuation. Vikram Solar IPO, despite its strong Grey Market Premium, has a higher valuation, with a P/E of 75, placing it fourth in this category.
Valuation Ranking:
- Shreeji Group IPO
- Gem Aromatics IPO
- Patel Retail IPO
- Vikram Solar IPO
Grey Market Premium (GMP) Insights
The Grey Market Premium (GMP) offers a glimpse into potential listing gains. Vikram Solar IPO currently commands the highest GMP at 16%, indicating strong market sentiment and potential for significant listing gains. Patel Retail IPO follows with a GMP of 14%, ranking second. Shreeji Group IPO’s GMP stands at 10%, placing it third. Gem Aromatics IPO shows a GMP of 8%, ranking fourth in this aspect.
GMP Ranking:
- Vikram Solar IPO
- Patel Retail IPO
- Shreeji Group IPO
- Gem Aromatics IPO
Overall Priority Ranking
Considering all the discussed parameters—financial health, business model, issue size, valuation, and Grey Market Premium—the overall priority ranking for these four IPOs is as follows:
- 1st Priority: Vikram Solar IPO
- 2nd Priority: Shreeji Group IPO
- 3rd Priority: Gem Aromatics IPO
- 4th Priority: Patel Retail IPO
Conclusion
This comprehensive analysis aims to provide clarity on the four concurrent IPOs. Investors are encouraged to conduct their own due diligence before making investment decisions. We invite you to share your own priority rankings in the comments section below. For daily IPO updates and further discussions, consider subscribing to our channel and joining our Telegram group via the link provided in the comments.
