Bharat Highways InvIT vs Exicom Tele-Systems IPO

Comparision between Bharat Highways InvIT and Exicom Tele-Systems IPO.

IPO Details

Bharat Highways InvIT is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Exicom Tele-Systems IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Bharat Highways InvIT	Exicom Tele-Systems IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	InvIT	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	ICICI Securities Limited Axis Bank Limited Hdfc Bank Limited Iifl Securities Ltd	Monarch Networth Capital Ltd Unistone Capital Pvt Ltd Systematix Corporate Services Limited
Registrar	Kfin Technologies Limited	Link Intime India Private Ltd
Market Maker
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 Bharat Highways InvIT is up to ₹2,500.00 Cr whereas the issue size of the Exicom Tele-Systems IPO is up to ₹429.00 Cr. The final issue price of Bharat Highways InvIT is ₹100.00 per share and of Exicom Tele-Systems IPO is ₹142.00 per share.

	Bharat Highways InvIT	Exicom Tele-Systems IPO
Face Value		₹10 per share
Issue Price (Lower)	₹98.00 per share	₹135.00 per share
Issue Price (Upper)	₹100.00 per share	₹142.00 per share
Issue Price (Final)	₹100.00 per share	₹142.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	150 shares	100 shares
Fresh Issue Size	25,00,00,000 shares	2,31,69,014 shares
Fresh Issue Size (Amount)	up to ₹2,500.00 Cr	up to ₹329.00 Cr
OFS Issue Size		70,42,200 shares
OFS Issue Size (Amount)		up to ₹100.00 Cr
Issue Size Total	25,00,00,000 shares	3,02,11,214 shares
Issue Size Total (Amount)	up to ₹2,500.00 Cr	up to ₹429.00 Cr

IPO Timetable

Bharat Highways InvIT opens on Feb 28, 2024, while Exicom Tele-Systems IPO opens on Feb 27, 2024. The closing date of Bharat Highways InvIT and Exicom Tele-Systems IPO is Mar 01, 2024, and Feb 29, 2024, respectively.

	Bharat Highways InvIT	Exicom Tele-Systems IPO
Anchor Bid Date	Feb 27, 2024	Feb 26, 2024
Issue Open	Feb 28, 2024	Feb 27, 2024
Issue Close	Mar 01, 2024	Feb 29, 2024
Basis Of Allotment (Tentative)	Mar 06, 2024	Mar 01, 2024
Initiation of Refunds (Tentative)	Mar 07, 2024	Mar 04, 2024
Credit of Share (Tentative)	Mar 07, 2024	Mar 04, 2024
Listing date (Tentative)	Mar 12, 2024	Mar 05, 2024
Anchor Lockin End date 1	Apr 05, 2024	Mar 31, 2024
Anchor Lockin End date 2	Jun 04, 2024	May 30, 2024

Financials

Bharat Highways InvIT P/E ratio is , as compared to Exicom Tele-Systems IPO P/E ratio of 217.63.

Bharat Highways InvIT

Exicom Tele-Systems IPO

Financial

Bharat Highways Infrastructure Investment Trust Financial Information (Restated)

Bharat Highways Infrastructure Investment Trust's revenue decreased by -3.92% and profit after tax (PAT) rose by 738.34% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,916.80	6,056.28	5,536.40	4,943.95
Revenue	388.54	1,537.47	1,600.18	2,170.39
Profit After Tax	101.35	527.05	62.87	149.45
Amount in ₹ Crore

Exicom Tele-Systems Limited Financial Information (Restated Consolidated)

Exicom Tele-Systems Limited's revenue decreased by -14.79% and profit after tax (PAT) rose by 24.07% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	629.41	705.09	602.99	678.46
Revenue	467.21	723.40	848.96	524.36
Profit After Tax	27.46	6.37	5.14	3.45
Net Worth	311.40	232.00	221.57	213.44
Reserves and Surplus	204.95	213.61	207.39	201.55
Total Borrowing	72.84	117.92	107.67	101.76
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

93.28%

Promoter Shareholding (Post-Issue)

P/E Ratio

217.63

Market Cap

₹1715.71 Cr.

ROE

13.38%%

ROCE

10.92%%

Debt/Equity

EPS

₹0.65

RoNW

2.75%%

Shares Offered

In the Bharat Highways InvIT retail investors (RII) are offered 0 shares while in Exicom Tele-Systems IPO retail investors are offered 0 shares. Qualified institutional buyers (QIB) are offered 5,61,88,800 shares in Bharat Highways InvIT and 1,01,19,700 shares in Exicom Tele-Systems IPO.

	Bharat Highways InvIT	Exicom Tele-Systems IPO
Anchor Investor Reserveration	8,25,97,350 shares	1,25,38,800 shares
Market Maker Reserveration
QIB	5,61,88,800 shares	1,01,19,700 shares
NII	0 shares	45,31,600 shares
RII	0 shares	30,21,100 shares
Employee	0 shares	0 shares
Others
Total	10,30,12,800 shares	1,76,72,400 shares

Bids Received (Subscription)

Bharat Highways InvIT subscribed 6.74x in total, whereas Exicom Tele-Systems IPO subscribed 133.56x.

	Bharat Highways InvIT	Exicom Tele-Systems IPO
QIB (times)	6.59x	124.82x
NII (times)		159.29x
Big NII (times)		163.96x
Small NII (times)		149.95x
RII (times)		124.27x
Employee (times)
Other (times)	6.93x
Total (times)	6.74x	133.56x

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