Equitas Small Finance Bank IPO vs Mindspace REIT

Comparision between Equitas Small Finance Bank IPO and Mindspace REIT.

IPO Details

Equitas Small Finance Bank IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Mindspace REIT is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Equitas Small Finance Bank IPO	Mindspace REIT
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	REIT
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Edelweiss Financial Services Ltd Iifl Securities Ltd Jm Financial Limited	Ambit Private Limited Axis Capital Limited Bofa Securities India Limited Citigroup Global Markets India Private Limited Clsa India Private Limited Hdfc Bank Limited ICICI Securities Limited Idfc Bank Limited Jm Financial Limited Kotak Mahindra Capital Company Limited Morgan Stanley India Company Pvt Ltd Nomura Financial Advisory And Securities (India) Pvt Ltd Ubs Securities India Private Limited
Registrar	Kfin Technologies Limited
Market Maker
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 Equitas Small Finance Bank IPO is up to ₹517.60 Cr whereas the issue size of the Mindspace REIT is up to ₹4,500.00 Cr. The final issue price of Equitas Small Finance Bank IPO is ₹33.00 per share and of Mindspace REIT is ₹275.00 per share.

	Equitas Small Finance Bank IPO	Mindspace REIT
Face Value	₹10 per share
Issue Price (Lower)	₹32.00 per share	₹274.00 per share
Issue Price (Upper)	₹33.00 per share	₹275.00 per share
Issue Price (Final)	₹33.00 per share	₹275.00 per share
Discount (Retail)	₹0.00 per share
Discount (Employee)	₹0.00 per share
Market Lot Size	450 shares	200 shares
Fresh Issue Size
Fresh Issue Size (Amount)	up to ₹280.00 Cr	up to ₹1,000.00 Cr
OFS Issue Size	7,20,00,000 shares
OFS Issue Size (Amount)	up to ₹237.60 Cr	up to ₹3,500.00 Cr
Issue Size Total
Issue Size Total (Amount)	up to ₹517.60 Cr	up to ₹4,500.00 Cr

IPO Timetable

Equitas Small Finance Bank IPO opens on Oct 20, 2020, while Mindspace REIT opens on Jul 27, 2020. The closing date of Equitas Small Finance Bank IPO and Mindspace REIT is Oct 22, 2020, and Jul 29, 2020, respectively.

	Equitas Small Finance Bank IPO	Mindspace REIT
Anchor Bid Date
Issue Open	Oct 20, 2020	Jul 27, 2020
Issue Close	Oct 22, 2020	Jul 29, 2020
Basis Of Allotment (Tentative)	Oct 27, 2020	Aug 06, 2020
Initiation of Refunds (Tentative)	Oct 28, 2020	Aug 07, 2020
Credit of Share (Tentative)	Oct 29, 2020	Aug 07, 2020
Listing date (Tentative)	Nov 02, 2020	Aug 07, 2020
Anchor Lockin End date 1	Nov 26, 2020	Sep 05, 2020
Anchor Lockin End date 2	Jan 25, 2021	Nov 04, 2020

Financials

Equitas Small Finance Bank IPO P/E ratio is , as compared to Mindspace REIT P/E ratio of .

Equitas Small Finance Bank IPO

Mindspace REIT

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Million)
	30-Jun-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	208,921.39	193,145.47	157,626.91	133,011.50
Total Revenue	7,509.68	29,277.95	23,948.32	17,729.03
Profit After Tax	576.71	2,436.35	2,105.66	318.31

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Million)
	31-Mar-20	31-Mar-19	31-Mar-18	31-Mar-17
Total Assets	1,12,224	91,437	84,738	81,293
Total Revenue	20,262	16,797	15,022	14,354
Profit After Tax	5,139	5,154	1,610	2,313

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

₹23675.00 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Equitas Small Finance Bank IPO retail investors (RII) are offered 5,01,37,500 shares while in Mindspace REIT retail investors are offered 5,01,37,500 shares. Qualified institutional buyers (QIB) are offered 2,79,75,001 shares in Equitas Small Finance Bank IPO and 3,69,52,600 shares in Mindspace REIT.

	Equitas Small Finance Bank IPO	Mindspace REIT
Anchor Investor Reserveration
Market Maker Reserveration
QIB	2,79,75,001 shares	3,69,52,600 shares
NII	2,14,87,500 shares	3,07,93,800 shares
RII	5,01,37,500 shares	0 shares
Employee	3,12,500 shares	0 shares
Others
Total	11,58,50,001 shares	6,77,46,400 shares

Bids Received (Subscription)

Equitas Small Finance Bank IPO subscribed 1.95x in total, whereas Mindspace REIT subscribed 12.96x.

	Equitas Small Finance Bank IPO	Mindspace REIT
QIB (times)	3.91x	10.61x
NII (times)	0.22x	15.51x
Big NII (times)
Small NII (times)
RII (times)	2.08x
Employee (times)	1.84x
Other (times)	0.42x
Total (times)	1.95x	12.96x

Compare with others

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CAMS IPO	Route Mobile IPO
UTI AMC IPO	Angel One IPO
Mindspace REIT	Happiest Minds IPO
Yes Bank FPO	CAMS IPO
Rossari Biotech IPO	UTI AMC IPO
Prince Pipes IPO	Yes Bank FPO
SBI Cards IPO	Rossari Biotech IPO
Ujjivan Bank IPO	Equitas Small Finance Bank IPO
CSB Bank IPO	Prince Pipes IPO
IRCTC IPO	SBI Cards IPO

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