Syrma IPO vs Tamilnad Mercantile Bank IPO

Comparision between Syrma IPO and Tamilnad Mercantile Bank IPO.

IPO Details

Syrma IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Tamilnad Mercantile Bank IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Syrma IPO	Tamilnad Mercantile Bank 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	Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) ICICI Securities Limited Iifl Securities Ltd	Axis Capital Limited Motilal Oswal Investment Advisors Limited SBI Capital Markets Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Syrma IPO is up to ₹840.00 Cr whereas the issue size of the Tamilnad Mercantile Bank IPO is up to ₹807.84 Cr. The final issue price of Syrma IPO is ₹220.00 per share and of Tamilnad Mercantile Bank IPO is ₹510.00 per share.

	Syrma IPO	Tamilnad Mercantile Bank IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹209.00 per share	₹500.00 per share
Issue Price (Upper)	₹220.00 per share	₹525.00 per share
Issue Price (Final)	₹220.00 per share	₹510.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	68 shares	28 shares
Fresh Issue Size		1,58,40,000 shares
Fresh Issue Size (Amount)	up to ₹766.00 Cr	up to ₹807.84 Cr
OFS Issue Size	33,69,360 shares
OFS Issue Size (Amount)
Issue Size Total		1,58,40,000 shares
Issue Size Total (Amount)	up to ₹840.00 Cr	up to ₹807.84 Cr

IPO Timetable

Syrma IPO opens on Aug 12, 2022, while Tamilnad Mercantile Bank IPO opens on Sep 05, 2022. The closing date of Syrma IPO and Tamilnad Mercantile Bank IPO is Aug 18, 2022, and Sep 07, 2022, respectively.

	Syrma IPO	Tamilnad Mercantile Bank IPO
Anchor Bid Date
Issue Open	Aug 12, 2022	Sep 05, 2022
Issue Close	Aug 18, 2022	Sep 07, 2022
Basis Of Allotment (Tentative)	Aug 23, 2022	Sep 12, 2022
Initiation of Refunds (Tentative)	Aug 24, 2022	Sep 13, 2022
Credit of Share (Tentative)	Aug 25, 2022	Sep 14, 2022
Listing date (Tentative)	Aug 26, 2022	Sep 15, 2022
Anchor Lockin End date 1	Sep 22, 2022	Oct 12, 2022
Anchor Lockin End date 2	Nov 21, 2022	Dec 11, 2022

Financials

Syrma IPO P/E ratio is 50.69, as compared to Tamilnad Mercantile Bank IPO P/E ratio of 9.22.

Syrma IPO

Tamilnad Mercantile Bank IPO

Financial

Syrma SGS Technology Ltd Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax
31-Mar-19	286.42	357.4	20.97
31-Mar-20	346.7	404.88	43.88
31-Mar-21	460.01	444.48	28.62
Amount in ₹ Crore

Tamilnad Mercantile Bank Limited Financial Information (Restated)
Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus
31-Mar-20	42758.8	3992.53	464.89	3979.65	3837.14
31-Mar-21	47527.17	4253.4	654.04	4579.98	4437.47
31-Mar-22	52858.49	4656.44	901.9	5335.71	5193.2
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

50.69

9.22

Market Cap

₹3877.04 Cr.

₹8313.45 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Syrma IPO retail investors (RII) are offered 1,40,07,027 shares while in Tamilnad Mercantile Bank IPO retail investors are offered 1,40,07,027 shares. Qualified institutional buyers (QIB) are offered 85,53,777 shares in Syrma IPO and 47,52,000 shares in Tamilnad Mercantile Bank IPO.

	Syrma IPO	Tamilnad Mercantile Bank IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	85,53,777 shares	47,52,000 shares
NII	60,03,012 shares	23,76,000 shares
RII	1,40,07,027 shares	15,84,000 shares
Employee	0 shares	0 shares
Others
Total	2,85,63,816 shares	87,12,000 shares

Bids Received (Subscription)

Syrma IPO subscribed 32.61x in total, whereas Tamilnad Mercantile Bank IPO subscribed 2.86x.

	Syrma IPO	Tamilnad Mercantile Bank IPO
QIB (times)	87.56x	1.62x
NII (times)	17.50x	2.94x
Big NII (times)	19.01x	3.10x
Small NII (times)	14.47x	2.63x
RII (times)	5.53x	6.48x
Employee (times)
Other (times)
Total (times)	32.61x	2.86x

Compare with others

Syrma IPO	Tamilnad Mercantile Bank IPO
Electronics Mart India IPO	Five Star Business Finance IPO
DCX Systems IPO	Uniparts India IPO
Tamilnad Mercantile Bank IPO	Kaynes Technology IPO
Harsha Engineers IPO	Electronics Mart India IPO
Dreamfolks Services IPO	DCX Systems IPO
Aether Industries IPO	Harsha Engineers IPO
eMudhra IPO	Dreamfolks Services IPO
Paradeep Phosphates IPO	Syrma IPO
Prudent Corporate Advisory Services IPO	Aether Industries IPO
Rainbow Children Medicare IPO	eMudhra IPO

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