IndiGrid InvIT Fund vs PSP Projects IPO

Comparision between IndiGrid InvIT Fund and PSP Projects IPO.

IPO Details

IndiGrid InvIT Fund is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while PSP Projects IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	IndiGrid InvIT Fund	PSP Projects IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Citigroup Global Markets India Private Limited Edelweiss Financial Services Ltd Morgan Stanley India Company Pvt Ltd	Karvy Investor Services Limited Motilal Oswal Investment Advisors Limited
Registrar	Kfin Technologies Limited	Kfin Technologies Limited
Market Maker
DRHP		DRHP
RHP		RHP
Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of IndiGrid InvIT Fund is up to ₹2,250.00 Cr whereas the issue size of the PSP Projects IPO is up to ₹211.68 Cr. The final issue price of IndiGrid InvIT Fund is ₹100.00 per share and of PSP Projects IPO is ₹210.00 per share.

	IndiGrid InvIT Fund	PSP Projects IPO
Face Value	₹100 per share	₹10 per share
Issue Price (Lower)	₹98.00 per share	₹205.00 per share
Issue Price (Upper)	₹100.00 per share	₹210.00 per share
Issue Price (Final)	₹100.00 per share	₹210.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	10205 shares	70 shares
Fresh Issue Size		72,00,000 shares
Fresh Issue Size (Amount)
OFS Issue Size		28,80,000 shares
OFS Issue Size (Amount)
Issue Size Total	22,50,00,000 shares	1,00,80,000 shares
Issue Size Total (Amount)	up to ₹2,250.00 Cr	up to ₹211.68 Cr

IPO Timetable

IndiGrid InvIT Fund opens on May 17, 2017, while PSP Projects IPO opens on May 17, 2017. The closing date of IndiGrid InvIT Fund and PSP Projects IPO is May 19, 2017, and May 19, 2017, respectively.

	IndiGrid InvIT Fund	PSP Projects IPO
Anchor Bid Date
Issue Open	May 17, 2017	May 17, 2017
Issue Close	May 19, 2017	May 19, 2017
Basis Of Allotment (Tentative)		May 24, 2017
Initiation of Refunds (Tentative)		May 26, 2017
Credit of Share (Tentative)		May 26, 2017
Listing date (Tentative)		May 29, 2017
Anchor Lockin End date 1		Jun 23, 2017
Anchor Lockin End date 2		Aug 22, 2017

Financials

IndiGrid InvIT Fund P/E ratio is , as compared to PSP Projects IPO P/E ratio of .

IndiGrid InvIT Fund

PSP Projects IPO

Financial

Summary of financial Information
Particulars	For the year/period ended (in Rs. Million)
	31-Dec-16	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13	31-Mar-12
Total Assets	2,741.50	2,287.13	1,863.78	1,362.71	1,009.60	918.53
Total Revenue	2,494.15	4,677.14	2,869.67	2,147.97	2,609.69	1,807.53
Profit After Tax (PAT)	214.83	249.31	140.54	100.70	122.50	83.52

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the IndiGrid InvIT Fund retail investors (RII) are offered while in PSP Projects IPO retail investors are offered . Qualified institutional buyers (QIB) are offered 6,88,80,294 shares in IndiGrid InvIT Fund and 30,24,000 shares in PSP Projects IPO.

	IndiGrid InvIT Fund	PSP Projects IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	6,88,80,294 shares	30,24,000 shares
NII		15,12,000 shares
RII		10,08,000 shares
Employee
Others
Total	12,62,78,838 shares	55,44,000 shares

Bids Received (Subscription)

IndiGrid InvIT Fund subscribed 1.35x in total, whereas PSP Projects IPO subscribed 8.58x.

	IndiGrid InvIT Fund	PSP Projects IPO
QIB (times)	1.14x	8.38x
NII (times)		10.39x
Big NII (times)
Small NII (times)
RII (times)		6.47x
Employee (times)
Other (times)	1.60x
Total (times)	1.35x	8.58x

Compare with others

IndiGrid InvIT Fund	PSP Projects IPO
Salasar Techno IPO	Au Financiers IPO
Au Financiers IPO	GTPL Hathway IPO
GTPL Hathway IPO	Eris Lifesciences IPO
Eris Lifesciences IPO	Tejas Networks IPO
Tejas Networks IPO	IndiGrid InvIT Fund
PSP Projects IPO	IRB InvIT Fund IPO
IRB InvIT Fund IPO	S Chand and Company IPO
S Chand and Company IPO	HUDCO IPO
HUDCO IPO	Shankara Buildpro IPO
Shankara Buildpro IPO	CL Educate IPO

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