Garden Reach Shipbuilders IPO vs MSTC IPO

Comparision between Garden Reach Shipbuilders IPO and MSTC IPO.

IPO Details

Garden Reach Shipbuilders IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while MSTC IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Garden Reach Shipbuilders IPO	MSTC 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	Idbi Capital Market Services Limited Yes Securities (India) Limited	Equirus Capital Private Limited
Registrar	Alankit Assignments Ltd	Alankit Assignments 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 Garden Reach Shipbuilders IPO is up to ₹344.69 Cr whereas the issue size of the MSTC IPO is up to ₹212.04 Cr. The final issue price of Garden Reach Shipbuilders IPO is ₹118.00 per share and of MSTC IPO is ₹120.00 per share.

	Garden Reach Shipbuilders IPO	MSTC IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹114.00 per share	₹120.00 per share
Issue Price (Upper)	₹118.00 per share	₹128.00 per share
Issue Price (Final)	₹118.00 per share	₹120.00 per share
Discount (Retail)		₹5.50 per share
Discount (Employee)		₹5.50 per share
Market Lot Size	120 shares	90 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	2,92,10,760 shares	1,76,70,400 shares
Issue Size Total (Amount)	up to ₹344.69 Cr	up to ₹212.04 Cr

IPO Timetable

Garden Reach Shipbuilders IPO opens on Sep 24, 2018, while MSTC IPO opens on Mar 13, 2019. The closing date of Garden Reach Shipbuilders IPO and MSTC IPO is Oct 01, 2018, and Mar 20, 2019, respectively.

	Garden Reach Shipbuilders IPO	MSTC IPO
Anchor Bid Date
Issue Open	Sep 24, 2018	Mar 13, 2019
Issue Close	Oct 01, 2018	Mar 20, 2019
Basis Of Allotment (Tentative)	Oct 01, 2018	Mar 25, 2019
Initiation of Refunds (Tentative)	Oct 03, 2018	Mar 26, 2019
Credit of Share (Tentative)	Oct 03, 2018	Mar 28, 2019
Listing date (Tentative)	Oct 10, 2018	Mar 29, 2019
Anchor Lockin End date 1	Oct 31, 2018	Apr 24, 2019
Anchor Lockin End date 2	Dec 30, 2018	Jun 23, 2019

Financials

Garden Reach Shipbuilders IPO P/E ratio is , as compared to MSTC IPO P/E ratio of .

Garden Reach Shipbuilders IPO

MSTC IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Millions)
	30-Sep-17	31-Mar-17	31-Mar-16	31-Mar-15(Proforma)
Total Assets	46,999.32	45,650.04	44,514.94	40,009.76
Total Revenue	5,8583.93	11,579.57	18,467.47	16,391.63
Profit After Tax	180.69	122.32	1,620.47	517.28

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Million)
	30-Sep-18	31-Mar-18	31-Mar-17	31-Mar-16
Total Assets	42,566.28	47,378.56	45,998.14	41,621.75
Total Revenue	14,915.50	27,931.50	18,762.00	33,078.00
Profit After Tax	(158.84)	(64.81)	1,391.50	(2,471.00)

Promoter Shareholding (Pre-Issue)

89.85%

Promoter Shareholding (Post-Issue)

64.75%

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Garden Reach Shipbuilders IPO retail investors (RII) are offered 1,00,23,300 shares while in MSTC IPO retail investors are offered 1,00,23,300 shares. Qualified institutional buyers (QIB) are offered 1,43,19,000 shares in Garden Reach Shipbuilders IPO and 1,32,00,000 shares in MSTC IPO.

	Garden Reach Shipbuilders IPO	MSTC IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	1,43,19,000 shares	1,32,00,000 shares
NII	42,95,700 shares	26,40,000 shares
RII	1,00,23,300 shares	17,60,000 shares
Employee	5,72,760 shares	70,400 shares
Others
Total	2,92,10,760 shares	1,76,70,400 shares

Bids Received (Subscription)

Garden Reach Shipbuilders IPO subscribed 1.02x in total, whereas MSTC IPO subscribed 1.46x.

	Garden Reach Shipbuilders IPO	MSTC IPO
QIB (times)	1.81x	1.13x
NII (times)	0.31x	2.15x
Big NII (times)
Small NII (times)
RII (times)	0.24x	2.95x
Employee (times)	0.14x	1.54x
Other (times)
Total (times)	1.02x	1.46x

Compare with others

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MSTC IPO	Rail Vikas IPO
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Chalet Hotels Limited IPO	Xelpmoc Design and Tech IPO
TCNS Clothing IPO	Aavas Financiers IPO
CreditAccess Grameen IPO	IRCON International IPO
HDFC AMC IPO	Garden Reach Shipbuilders IPO
Varroc Engineering IPO	Chalet Hotels Limited IPO

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