Mindspace REIT vs SBI Cards IPO

Comparision between Mindspace REIT and SBI Cards IPO.

IPO Details

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

	Mindspace REIT	SBI Cards 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 Bofa Securities India Limited Hsbc Securities & Capital Markets Pvt Ltd Kotak Mahindra Capital Company Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets 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 SBI Cards IPO is up to ₹10,354.77 Cr. The final issue price of Mindspace REIT is ₹275.00 per share and of SBI Cards IPO is ₹755.00 per share.

	Mindspace REIT	SBI Cards IPO
Face Value		₹10 per share
Issue Price (Lower)	₹274.00 per share	₹750.00 per share
Issue Price (Upper)	₹275.00 per share	₹755.00 per share
Issue Price (Final)	₹275.00 per share	₹755.00 per share
Discount (Retail)
Discount (Employee)		₹75.00 per share
Market Lot Size	200 shares	19 shares
Fresh Issue Size		66,22,517 shares
Fresh Issue Size (Amount)	up to ₹1,000.00 Cr	up to ₹500.00 Cr
OFS Issue Size		13,05,26,798 shares
OFS Issue Size (Amount)	up to ₹3,500.00 Cr	up to ₹9,854.77 Cr
Issue Size Total		13,71,93,464 shares
Issue Size Total (Amount)	up to ₹4,500.00 Cr	up to ₹10,354.77 Cr

IPO Timetable

Mindspace REIT opens on Jul 27, 2020, while SBI Cards IPO opens on Mar 02, 2020. The closing date of Mindspace REIT and SBI Cards IPO is Jul 29, 2020, and Mar 05, 2020, respectively.

	Mindspace REIT	SBI Cards IPO
Anchor Bid Date
Issue Open	Jul 27, 2020	Mar 02, 2020
Issue Close	Jul 29, 2020	Mar 05, 2020
Basis Of Allotment (Tentative)	Aug 06, 2020	Mar 11, 2020
Initiation of Refunds (Tentative)	Aug 07, 2020	Mar 12, 2020
Credit of Share (Tentative)	Aug 07, 2020	Mar 13, 2020
Listing date (Tentative)	Aug 07, 2020	Mar 16, 2020
Anchor Lockin End date 1	Sep 05, 2020	Apr 10, 2020
Anchor Lockin End date 2	Nov 04, 2020	Jun 09, 2020

Financials

Mindspace REIT P/E ratio is , as compared to SBI Cards IPO P/E ratio of 45.8.

Mindspace REIT

SBI Cards 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 Million)
	31-Dec-19	31-March-19	31-Mar-18	31-Mar-17
Total Assets	259,934.65	202,396.36	156,860.07	107,649.82
Total Revenue	72,401.56	72,868.35	53,701.92	34,710.38
Profit After Tax	11,612.07	8,627.22	6,011.42	3,728.61

Promoter Shareholding (Pre-Issue)

74%

Promoter Shareholding (Post-Issue)

69.51%

P/E Ratio

45.8

Market Cap

₹23675.00 Cr.

₹70890.00 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Mindspace REIT retail investors (RII) are offered 0 shares while in SBI Cards IPO retail investors are offered 0 shares. Qualified institutional buyers (QIB) are offered 3,69,52,600 shares in Mindspace REIT and 2,42,24,003 shares in SBI Cards IPO.

	Mindspace REIT	SBI Cards IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	3,69,52,600 shares	2,42,24,003 shares
NII	3,07,93,800 shares	1,83,41,418 shares
RII	0 shares	4,27,96,641 shares
Employee	0 shares	18,64,669 shares
Others
Total	6,77,46,400 shares	10,02,79,411 shares

Bids Received (Subscription)

Mindspace REIT subscribed 12.96x in total, whereas SBI Cards IPO subscribed 26.54x.

	Mindspace REIT	SBI Cards IPO
QIB (times)	10.61x	57.18x
NII (times)	15.51x	45.23x
Big NII (times)
Small NII (times)
RII (times)		2.50x
Employee (times)		4.74x
Other (times)		25.36x
Total (times)	12.96x	26.54x

Compare with others

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

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