Mindspace REIT vs Route Mobile IPO

Comparision between Mindspace REIT and Route Mobile IPO.

IPO Details

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

	Mindspace REIT	Route Mobile 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	Axis Capital Limited Edelweiss Financial Services Ltd ICICI Securities Limited Idbi Capital Market Services 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 Mindspace REIT is up to ₹4,500.00 Cr whereas the issue size of the Route Mobile IPO is up to ₹600.00 Cr. The final issue price of Mindspace REIT is ₹275.00 per share and of Route Mobile IPO is ₹350.00 per share.

	Mindspace REIT	Route Mobile IPO
Face Value		₹10 per share
Issue Price (Lower)	₹274.00 per share	₹345.00 per share
Issue Price (Upper)	₹275.00 per share	₹350.00 per share
Issue Price (Final)	₹275.00 per share	₹350.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	200 shares	40 shares
Fresh Issue Size
Fresh Issue Size (Amount)	up to ₹1,000.00 Cr	up to ₹240.00 Cr
OFS Issue Size
OFS Issue Size (Amount)	up to ₹3,500.00 Cr	up to ₹360.00 Cr
Issue Size Total		1,73,91,303 shares
Issue Size Total (Amount)	up to ₹4,500.00 Cr	up to ₹600.00 Cr

IPO Timetable

Mindspace REIT opens on Jul 27, 2020, while Route Mobile IPO opens on Sep 09, 2020. The closing date of Mindspace REIT and Route Mobile IPO is Jul 29, 2020, and Sep 11, 2020, respectively.

	Mindspace REIT	Route Mobile IPO
Anchor Bid Date
Issue Open	Jul 27, 2020	Sep 09, 2020
Issue Close	Jul 29, 2020	Sep 11, 2020
Basis Of Allotment (Tentative)	Aug 06, 2020	Sep 16, 2020
Initiation of Refunds (Tentative)	Aug 07, 2020	Sep 17, 2020
Credit of Share (Tentative)	Aug 07, 2020	Sep 18, 2020
Listing date (Tentative)	Aug 07, 2020	Sep 21, 2020
Anchor Lockin End date 1	Sep 05, 2020	Oct 16, 2020
Anchor Lockin End date 2	Nov 04, 2020	Dec 15, 2020

Financials

Mindspace REIT P/E ratio is , as compared to Route Mobile IPO P/E ratio of .

Mindspace REIT

Route Mobile 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 Consolidated)
Particulars	For the year/period ended (Rs in Million)
	30-June-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	6,348.31	6,265.48	5,057.81	4,473.66
Total Revenue	3,122.95	9,681.02	8,523.77	5,094.85
Profit After Tax	269.34	691.02	545.32	466.77

Promoter Shareholding (Pre-Issue)

96%

Promoter Shareholding (Post-Issue)

66.33%

P/E Ratio

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 Route Mobile IPO retail investors are offered 0 shares. Qualified institutional buyers (QIB) are offered 3,69,52,600 shares in Mindspace REIT and 34,78,259 shares in Route Mobile IPO.

	Mindspace REIT	Route Mobile IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	3,69,52,600 shares	34,78,259 shares
NII	3,07,93,800 shares	26,08,696 shares
RII	0 shares	60,86,957 shares
Employee	0 shares	0 shares
Others
Total	6,77,46,400 shares	1,21,73,912 shares

Bids Received (Subscription)

Mindspace REIT subscribed 12.96x in total, whereas Route Mobile IPO subscribed 73.30x.

	Mindspace REIT	Route Mobile IPO
QIB (times)	10.61x	89.76x
NII (times)	15.51x	192.81x
Big NII (times)
Small NII (times)
RII (times)		12.67x
Employee (times)
Other (times)
Total (times)	12.96x	73.30x

Compare with others

Mindspace REIT	Route Mobile IPO
Route Mobile IPO	RailTel IPO
Angel One IPO	Gland Pharma IPO
Happiest Minds IPO	Mazagon Dock IPO
CAMS IPO	Likhitha Infrastructure IPO
UTI AMC IPO	Chemcon IPO
Yes Bank FPO	Angel One IPO
Rossari Biotech IPO	Happiest Minds IPO
Equitas Small Finance Bank IPO	CAMS IPO
Prince Pipes IPO	UTI AMC IPO
SBI Cards IPO	Mindspace REIT

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