ITI FPO vs SBI Cards IPO

Comparision between ITI FPO and SBI Cards IPO.

IPO Details

ITI FPO 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.

	ITI FPO	SBI Cards IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	FPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Bob Capital Markets Limited Karvy Investor Services Limited Pnb Investment Services Ltd	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	Kfin Technologies Limited	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor
IPO Allotment URL		IPO Allotment URL

Issue Size and Price

The total issue size of ITI FPO is up to ₹1,399.86 Cr whereas the issue size of the SBI Cards IPO is up to ₹10,354.77 Cr. The final issue price of ITI FPO is and of SBI Cards IPO is ₹755.00 per share.

	ITI FPO	SBI Cards IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹71.00 per share	₹750.00 per share
Issue Price (Upper)	₹77.00 per share	₹755.00 per share
Issue Price (Final)		₹755.00 per share
Discount (Retail)
Discount (Employee)		₹75.00 per share
Market Lot Size	150 shares	19 shares
Fresh Issue Size	18,00,00,000 shares	66,22,517 shares
Fresh Issue Size (Amount)		up to ₹500.00 Cr
OFS Issue Size		13,05,26,798 shares
OFS Issue Size (Amount)		up to ₹9,854.77 Cr
Issue Size Total	18,18,00,000 shares	13,71,93,464 shares
Issue Size Total (Amount)	up to ₹1,399.86 Cr	up to ₹10,354.77 Cr

IPO Timetable

ITI FPO opens on Jan 24, 2020, while SBI Cards IPO opens on Mar 02, 2020. The closing date of ITI FPO and SBI Cards IPO is Feb 05, 2020, and Mar 05, 2020, respectively.

	ITI FPO	SBI Cards IPO
Anchor Bid Date
Issue Open	Jan 24, 2020	Mar 02, 2020
Issue Close	Feb 05, 2020	Mar 05, 2020
Basis Of Allotment (Tentative)	Jan 31, 2020	Mar 11, 2020
Initiation of Refunds (Tentative)	Feb 03, 2020	Mar 12, 2020
Credit of Share (Tentative)	Feb 04, 2020	Mar 13, 2020
Listing date (Tentative)	Feb 05, 2020	Mar 16, 2020
Anchor Lockin End date 1	Mar 01, 2020	Apr 10, 2020
Anchor Lockin End date 2	Apr 30, 2020	Jun 09, 2020

Financials

ITI FPO P/E ratio is , as compared to SBI Cards IPO P/E ratio of 45.8.

ITI FPO

SBI Cards IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Million)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15
Total Assets	47,057.38	32,048.94	35,230.86	30,248.47
Total Revenue	18,116.17	20,887.16	17,903.11	6,640.29
Profit After Tax	2,305.64	2,663.91	2,372.18	(2,979.95)

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)

89.97%

74%

Promoter Shareholding (Post-Issue)

74.83%

69.51%

P/E Ratio

45.8

Market Cap

₹8307.00 Cr.

₹70890.00 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the ITI FPO retail investors (RII) are offered 1,80,00,000 shares while in SBI Cards IPO retail investors are offered 1,80,00,000 shares. Qualified institutional buyers (QIB) are offered 13,50,00,000 shares in ITI FPO and 2,42,24,003 shares in SBI Cards IPO.

	ITI FPO	SBI Cards IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	13,50,00,000 shares	2,42,24,003 shares
NII	2,70,00,000 shares	1,83,41,418 shares
RII	1,80,00,000 shares	4,27,96,641 shares
Employee	18,00,000 shares	18,64,669 shares
Others
Total	18,18,00,000 shares	10,02,79,411 shares

Bids Received (Subscription)

ITI FPO subscribed 0.62x in total, whereas SBI Cards IPO subscribed 26.54x.

	ITI FPO	SBI Cards IPO
QIB (times)	0.63x	57.18x
NII (times)	0.23x	45.23x
Big NII (times)
Small NII (times)
RII (times)	1.06x	2.50x
Employee (times)	0.98x	4.74x
Other (times)		25.36x
Total (times)	0.62x	26.54x

Compare with others

ITI FPO	SBI Cards IPO
UTI AMC IPO	Mindspace REIT
Mindspace REIT	Yes Bank FPO
Yes Bank FPO	Rossari Biotech IPO
Rossari Biotech IPO	Equitas Small Finance Bank IPO
Equitas Small Finance Bank IPO	Prince Pipes IPO
Prince Pipes IPO	Ujjivan Bank IPO
SBI Cards IPO	CSB Bank IPO
Ujjivan Bank IPO	IRCTC IPO
CSB Bank IPO	Vishwaraj IPO
IRCTC IPO	Sterling and Wilson IPO

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