Mindspace REIT vs Prince Pipes IPO

Comparision between Mindspace REIT and Prince Pipes IPO.

IPO Details

Mindspace REIT is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Prince Pipes IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Mindspace REIT	Prince Pipes IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	REIT	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	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	Edelweiss Financial Services Ltd Jm Financial Limited
Registrar		Link Intime India Private Ltd
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 Mindspace REIT is up to ₹4,500.00 Cr whereas the issue size of the Prince Pipes IPO is up to ₹500.00 Cr. The final issue price of Mindspace REIT is ₹275.00 per share and of Prince Pipes IPO is ₹178.00 per share.

	Mindspace REIT	Prince Pipes IPO
Face Value		₹10 per share
Issue Price (Lower)	₹274.00 per share	₹177.00 per share
Issue Price (Upper)	₹275.00 per share	₹178.00 per share
Issue Price (Final)	₹275.00 per share	₹178.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	200 shares	84 shares
Fresh Issue Size
Fresh Issue Size (Amount)	up to ₹1,000.00 Cr	up to ₹250.00 Cr
OFS Issue Size
OFS Issue Size (Amount)	up to ₹3,500.00 Cr	up to ₹250.00 Cr
Issue Size Total		2,82,48,586 shares
Issue Size Total (Amount)	up to ₹4,500.00 Cr	up to ₹500.00 Cr

IPO Timetable

Mindspace REIT opens on Jul 27, 2020, while Prince Pipes IPO opens on Dec 18, 2019. The closing date of Mindspace REIT and Prince Pipes IPO is Jul 29, 2020, and Dec 20, 2019, respectively.

	Mindspace REIT	Prince Pipes IPO
Anchor Bid Date
Issue Open	Jul 27, 2020	Dec 18, 2019
Issue Close	Jul 29, 2020	Dec 20, 2019
Basis Of Allotment (Tentative)	Aug 06, 2020	Dec 26, 2019
Initiation of Refunds (Tentative)	Aug 07, 2020	Dec 27, 2019
Credit of Share (Tentative)	Aug 07, 2020	Dec 30, 2019
Listing date (Tentative)	Aug 07, 2020	Dec 30, 2019
Anchor Lockin End date 1	Sep 05, 2020	Jan 25, 2020
Anchor Lockin End date 2	Nov 04, 2020	Mar 25, 2020

Financials

Mindspace REIT P/E ratio is , as compared to Prince Pipes IPO P/E ratio of 18.35.

Mindspace REIT

Prince Pipes IPO

Financial

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

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Millions)
	Three months period ended on 30-June-2019	31-Mar-19	31-Mar-18	31-Mar-17	31-Mar-16
Total Assets	10,144.57	10,404.13	9,798.77	7,605.05	6,533.00
Total Revenue	3,801.92	15,789.95	13,265.71	13,324.95	10,816.18
Profit After Tax	266.69	833.51	727.66	741.82	295.35

Promoter Shareholding (Pre-Issue)

90.06%

Promoter Shareholding (Post-Issue)

65.80%

P/E Ratio

18.35

Market Cap

₹23675.00 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Mindspace REIT retail investors (RII) are offered 0 shares while in Prince Pipes IPO retail investors are offered 0 shares. Qualified institutional buyers (QIB) are offered 3,69,52,600 shares in Mindspace REIT and 56,49,718 shares in Prince Pipes IPO.

	Mindspace REIT	Prince Pipes IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	3,69,52,600 shares	56,49,718 shares
NII	3,07,93,800 shares	42,37,288 shares
RII	0 shares	98,87,006 shares
Employee	0 shares
Others
Total	6,77,46,400 shares	1,97,74,012 shares

Bids Received (Subscription)

Mindspace REIT subscribed 12.96x in total, whereas Prince Pipes IPO subscribed 2.21x.

	Mindspace REIT	Prince Pipes IPO
QIB (times)	10.61x	3.54x
NII (times)	15.51x	1.21x
Big NII (times)
Small NII (times)
RII (times)		1.89x
Employee (times)
Other (times)
Total (times)	12.96x	2.21x

Compare with others

Mindspace REIT	Prince Pipes 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	Equitas Small Finance Bank 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	Vishwaraj IPO

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