CreditAccess Grameen IPO vs Varroc Engineering IPO

Comparision between CreditAccess Grameen IPO and Varroc Engineering IPO.

IPO Details

CreditAccess Grameen IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Varroc Engineering IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	CreditAccess Grameen IPO	Varroc Engineering 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	Credit Suisse Securities (India) Private Limited ICICI Securities Limited Iifl Securities Ltd Kotak Mahindra Capital Company Limited	Citigroup Global Markets India Private Limited Credit Suisse Securities (India) Private Limited Iifl Securities Ltd Kotak Mahindra Capital Company 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	IPO Allotment URL

Issue Size and Price

The total issue size of CreditAccess Grameen IPO is up to ₹1,131.19 Cr whereas the issue size of the Varroc Engineering IPO is up to ₹1,945.77 Cr. The final issue price of CreditAccess Grameen IPO is ₹422.00 per share and of Varroc Engineering IPO is ₹967.00 per share.

	CreditAccess Grameen IPO	Varroc Engineering IPO
Face Value	₹10 per share	₹1 per share
Issue Price (Lower)	₹418.00 per share	₹965.00 per share
Issue Price (Upper)	₹422.00 per share	₹967.00 per share
Issue Price (Final)	₹422.00 per share	₹967.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	35 shares	15 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	2,68,05,394 shares	2,01,21,730 shares
Issue Size Total (Amount)	up to ₹1,131.19 Cr	up to ₹1,945.77 Cr

IPO Timetable

CreditAccess Grameen IPO opens on Aug 08, 2018, while Varroc Engineering IPO opens on Jun 26, 2018. The closing date of CreditAccess Grameen IPO and Varroc Engineering IPO is Aug 10, 2018, and Jun 28, 2018, respectively.

	CreditAccess Grameen IPO	Varroc Engineering IPO
Anchor Bid Date
Issue Open	Aug 08, 2018	Jun 26, 2018
Issue Close	Aug 10, 2018	Jun 28, 2018
Basis Of Allotment (Tentative)	Aug 16, 2018	Jul 03, 2018
Initiation of Refunds (Tentative)	Aug 20, 2018	Jul 04, 2018
Credit of Share (Tentative)	Aug 21, 2018	Jul 05, 2018
Listing date (Tentative)	Aug 23, 2018	Jul 06, 2018
Anchor Lockin End date 1	Sep 15, 2018	Aug 02, 2018
Anchor Lockin End date 2	Nov 14, 2018	Oct 01, 2018

Financials

CreditAccess Grameen IPO P/E ratio is , as compared to Varroc Engineering IPO P/E ratio of .

CreditAccess Grameen IPO

Varroc Engineering IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Millions)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14
Total Assets	52,183.48	35,640.72	28,079.76	17,268.09	10,580.80
Total Revenue	8,752.05	7,092.61	4,667.19	2,814.28	1,478.29
Profit After Tax	1,246.41	802.98	832.41	487.32	166.26

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Million)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15
Total Assets	68,523.92	58,603.80	52,458.55	44,284.68
Total Revenue	104,170.67	97,022.69	82,395.20	70,384.64
Profit After Tax	4,507.77	3,033.89	3,698.23	168.09

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the CreditAccess Grameen IPO retail investors (RII) are offered 94,31,890 shares while in Varroc Engineering IPO retail investors are offered 94,31,890 shares. Qualified institutional buyers (QIB) are offered 53,55,555 shares in CreditAccess Grameen IPO and 40,24,346 shares in Varroc Engineering IPO.

	CreditAccess Grameen IPO	Varroc Engineering IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	53,55,555 shares	40,24,346 shares
NII	40,42,239 shares	30,18,260 shares
RII	94,31,890 shares	70,42,606 shares
Employee	0 shares	1,00,000 shares
Others
Total	1,88,29,684 shares	1,41,85,212 shares

Bids Received (Subscription)

CreditAccess Grameen IPO subscribed 2.22x in total, whereas Varroc Engineering IPO subscribed 3.54x.

	CreditAccess Grameen IPO	Varroc Engineering IPO
QIB (times)	5.52x	9.15x
NII (times)	0.98x	2.45x
Big NII (times)
Small NII (times)
RII (times)	0.87x	0.84x
Employee (times)		0.63x
Other (times)
Total (times)	2.22x	3.54x

Compare with others

CreditAccess Grameen IPO	Varroc Engineering IPO
Aavas Financiers IPO	Garden Reach Shipbuilders IPO
IRCON International IPO	Chalet Hotels Limited IPO
Garden Reach Shipbuilders IPO	TCNS Clothing IPO
Chalet Hotels Limited IPO	CreditAccess Grameen IPO
TCNS Clothing IPO	HDFC AMC IPO
HDFC AMC IPO	Fine Organic IPO
Varroc Engineering IPO	RITES Limited IPO
Fine Organic IPO	IndoStar Capital Finance IPO
RITES Limited IPO	Lemon Tree Hotels IPO
IndoStar Capital Finance IPO	ICICI Securities IPO

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