Afcons Infrastructure IPO vs Manba Finance IPO

Comparision between Afcons Infrastructure IPO and Manba Finance IPO.

IPO Details

Afcons Infrastructure IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Manba Finance IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Afcons Infrastructure IPO	Manba Finance 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	ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Jefferies India Private Limited Nomura Financial Advisory And Securities (India) Pvt Ltd Nuvama Wealth Management Limited SBI Capital Markets Limited	Hem Securities 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 Afcons Infrastructure IPO is up to ₹5,430.00 Cr whereas the issue size of the Manba Finance IPO is up to ₹150.84 Cr. The final issue price of Afcons Infrastructure IPO is ₹463.00 per share and of Manba Finance IPO is ₹120.00 per share.

	Afcons Infrastructure IPO	Manba Finance IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹440.00 per share	₹114.00 per share
Issue Price (Upper)	₹463.00 per share	₹120.00 per share
Issue Price (Final)	₹463.00 per share	₹120.00 per share
Discount (Retail)
Discount (Employee)	₹44.00 per share
Market Lot Size	32 shares	125 shares
Fresh Issue Size	2,69,97,840 shares	1,25,70,000 shares
Fresh Issue Size (Amount)	up to ₹1,250.00 Cr	up to ₹150.84 Cr
OFS Issue Size	9,02,80,778 shares
OFS Issue Size (Amount)	up to ₹4,180.00 Cr
Issue Size Total	11,72,78,618 shares	1,25,70,000 shares
Issue Size Total (Amount)	up to ₹5,430.00 Cr	up to ₹150.84 Cr

IPO Timetable

Afcons Infrastructure IPO opens on Oct 25, 2024, while Manba Finance IPO opens on Sep 23, 2024. The closing date of Afcons Infrastructure IPO and Manba Finance IPO is Oct 29, 2024, and Sep 25, 2024, respectively.

	Afcons Infrastructure IPO	Manba Finance IPO
Anchor Bid Date	Oct 24, 2024	Sep 20, 2024
Issue Open	Oct 25, 2024	Sep 23, 2024
Issue Close	Oct 29, 2024	Sep 25, 2024
Basis Of Allotment (Tentative)	Oct 30, 2024	Sep 26, 2024
Initiation of Refunds (Tentative)	Oct 31, 2024	Sep 26, 2024
Credit of Share (Tentative)	Oct 31, 2024	Sep 27, 2024
Listing date (Tentative)	Nov 04, 2024	Sep 30, 2024
Anchor Lockin End date 1	Nov 29, 2024	Oct 26, 2024
Anchor Lockin End date 2	Jan 28, 2025	Dec 25, 2024

Financials

Afcons Infrastructure IPO P/E ratio is 35.08, as compared to Manba Finance IPO P/E ratio of 14.39.

Afcons Infrastructure IPO

Manba Finance IPO

Financial

Afcons Infrastructure Limited Financial Information (Restated Consolidated)

Afcons Infrastructure Limited's revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	17,184.58	16,233.64	14,301.25	12,973.77
Revenue	3,213.47	13,646.88	12,844.09	11,269.55
Profit After Tax	91.59	449.76	410.86	357.61
Net Worth	3,662.25	3,575.05	3,155.06	2,691.03
Reserves and Surplus	3,342.52	3,255.22	2,653.75	2,190.11
Total Borrowing	3,365.1	2,455	1,562.82	1,555.2
Amount in ₹ Crore

Manba Finance Limited Financial Information (Restated)

Manba Finance Limited's revenue increased by 44% and profit after tax (PAT) rose by 90% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	973.75	787.25	561.46
Revenue	191.63	133.32	106.62
Profit After Tax	31.42	16.58	9.74
Net Worth	200.61	168.43	151.74
Reserves and Surplus	162.46	155.54	138.96
Total Borrowing	752.27	595.93	394.4
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

99.48%

100%

Promoter Shareholding (Post-Issue)

67.16%

74.98%

P/E Ratio

35.08

14.39

Market Cap

₹17026.18 Cr.

₹602.87 Cr.

ROE

10.55%%

21.36%%

ROCE

14.89%%

19.39%%

Debt/Equity

0.91

3.75

EPS

₹13.20

₹8.34

RoNW

2.50%%

15.66%%

Shares Offered

In the Afcons Infrastructure IPO retail investors (RII) are offered 4,08,58,531 shares while in Manba Finance IPO retail investors are offered 4,08,58,531 shares. Qualified institutional buyers (QIB) are offered 2,33,47,732 shares in Afcons Infrastructure IPO and 25,14,000 shares in Manba Finance IPO.

	Afcons Infrastructure IPO	Manba Finance IPO
Anchor Investor Reserveration	3,50,21,597 shares	37,71,000 shares
Market Maker Reserveration
QIB	2,33,47,732 shares	25,14,000 shares
NII	1,75,10,799 shares	18,85,500 shares
RII	4,08,58,531 shares	43,99,500 shares
Employee	5,96,659 shares	0 shares
Others
Total	8,23,13,721 shares	87,99,000 shares

Bids Received (Subscription)

Afcons Infrastructure IPO subscribed 2.77x in total, whereas Manba Finance IPO subscribed 224.05x.

	Afcons Infrastructure IPO	Manba Finance IPO
QIB (times)	3.99x	148.55x
NII (times)	5.31x	511.62x
Big NII (times)	6.63x	546.56x
Small NII (times)	2.67x	441.73x
RII (times)	0.99x	143.95x
Employee (times)	1.77x
Other (times)
Total (times)	2.77x	224.05x

Compare with others

Afcons Infrastructure IPO	Manba Finance IPO
Swiggy IPO	Waaree Energies IPO
Godavari Biorefineries IPO	Garuda Construction and Engineering IPO
Deepak Builders & Engineers IPO	Afcons Infrastructure IPO
Waaree Energies IPO	Hyundai Motor IPO
Garuda Construction and Engineering IPO	Diffusion Engineers IPO
Hyundai Motor IPO	KRN Heat Exchanger IPO
Diffusion Engineers IPO	Northern Arc Capital IPO
Manba Finance IPO	Arkade Developers IPO
KRN Heat Exchanger IPO	Western Carriers (India) IPO
Northern Arc Capital IPO	P N Gadgil Jewellers IPO

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