Embassy Office Parks vs IRCON International IPO

Comparision between Embassy Office Parks and IRCON International IPO.

IPO Details

Embassy Office Parks is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while IRCON International IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Embassy Office Parks	IRCON International IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	REIT	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Axis Capital Limited Credit Suisse Securities (India) Private Limited Deutsche Equities India Private Limited Goldman Sachs (India) Securities Private Limited Hsbc Securities & Capital Markets Pvt Ltd Iifl Securities Ltd Jm Financial Limited Nomura Financial Advisory And Securities (India) Pvt Ltd	Axis Capital Limited Idbi Capital Market Services Limited SBI Capital Markets Limited
Registrar	Kfin Technologies Limited	Kfin Technologies Limited
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 Embassy Office Parks is up to ₹4,750.00 Cr whereas the issue size of the IRCON International IPO is up to ₹470.49 Cr. The final issue price of Embassy Office Parks is ₹300.00 per share and of IRCON International IPO is ₹475.00 per share.

	Embassy Office Parks	IRCON International IPO
Face Value	₹300 per share	₹10 per share
Issue Price (Lower)	₹299.00 per share	₹470.00 per share
Issue Price (Upper)	₹300.00 per share	₹475.00 per share
Issue Price (Final)	₹300.00 per share	₹475.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	400 shares	30 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	15,83,33,200 shares	99,05,157 shares
Issue Size Total (Amount)	up to ₹4,750.00 Cr	up to ₹470.49 Cr

IPO Timetable

Embassy Office Parks opens on Mar 18, 2019, while IRCON International IPO opens on Sep 17, 2018. The closing date of Embassy Office Parks and IRCON International IPO is Mar 20, 2019, and Sep 19, 2018, respectively.

	Embassy Office Parks	IRCON International IPO
Anchor Bid Date
Issue Open	Mar 18, 2019	Sep 17, 2018
Issue Close	Mar 20, 2019	Sep 19, 2018
Basis Of Allotment (Tentative)	Mar 28, 2019	Sep 25, 2018
Initiation of Refunds (Tentative)	Mar 29, 2019	Sep 26, 2018
Credit of Share (Tentative)		Sep 26, 2018
Listing date (Tentative)	Apr 01, 2019	Sep 28, 2018
Anchor Lockin End date 1	Apr 27, 2019	Oct 25, 2018
Anchor Lockin End date 2	Jun 26, 2019	Dec 24, 2018

Financials

Embassy Office Parks P/E ratio is , as compared to IRCON International IPO P/E ratio of .

Embassy Office Parks

IRCON International IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. millions)
	31-Dec-18	31-Mar-18	31-Mar-17	31-Mar-16
Total Assets	1,37,790.86	1,35,155.22	1,11,968.97	1,05,490.00
Total Revenue	13,759.83	16,118.00	14,849.20	13,970.16
Profit After Tax	2,851.14	2,569.08	1,770.57	931.83

Summary of financial Information (Restated Consolidated)
Particulars	For the year/period ended (in Rs. Million)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15 (Proforma)	31-Mar-14	31-Mar-13
Total Assets	127,782.22	92.314.11	81,394.06	65,210.01	62,134.65	62,389.08
Total Revenue	42,124.02	33,013.48	29,086.37	33,325.05	41,507.70	45,431.58
Profit After Tax	4,115.80	3,839.78	3,931.08	5,630.31	7,469.80	8,048.95

Summary of financial Information (Restated Standalone)
Particulars	For the year/period ended (in Rs. Millions)
	31-Marc-18	31-Mar-17	31-Mar-16	31-Mar-15(Proforma)	31-Mar-14	31-Mar-13
Total Assets	1,27,079.37	91,676.27	81,367.77	65,287.03	61,718.40	62,393.25
Total Revenue	41,230.59	33,544.28	28,343.49	32,192.33	41,588.22	45,600.59
Profit After Tax	3,908.60	3,688.51	3,693.04	5,591.28	7,403.85	8,131.88

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Embassy Office Parks retail investors (RII) are offered 0 shares while in IRCON International IPO retail investors are offered 0 shares. Qualified institutional buyers (QIB) are offered 3,88,66,800 shares in Embassy Office Parks and 47,02,578 shares in IRCON International IPO.

	Embassy Office Parks	IRCON International IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	3,88,66,800 shares	47,02,578 shares
NII	3,23,89,600 shares	14,10,774 shares
RII	0 shares	32,91,805 shares
Employee	0 shares	5,00,000 shares
Others
Total	7,12,56,400 shares	99,05,157 shares

Bids Received (Subscription)

Embassy Office Parks subscribed 2.57x in total, whereas IRCON International IPO subscribed 9.77x.

	Embassy Office Parks	IRCON International IPO
QIB (times)	2.15x	12.29x
NII (times)	3.09x	4.92x
Big NII (times)
Small NII (times)
RII (times)		9.66x
Employee (times)		0.36x
Other (times)
Total (times)	2.57x	9.77x

Compare with others

Embassy Office Parks	IRCON International IPO
IndiaMart IPO	Metropolis IPO
Neogen Chemicals IPO	Embassy Office Parks
Rail Vikas IPO	MSTC IPO
Polycab IPO	Xelpmoc Design and Tech IPO
Metropolis IPO	Aavas Financiers IPO
MSTC IPO	Garden Reach Shipbuilders IPO
Xelpmoc Design and Tech IPO	Chalet Hotels Limited IPO
Aavas Financiers IPO	TCNS Clothing IPO
IRCON International IPO	CreditAccess Grameen IPO
Garden Reach Shipbuilders IPO	HDFC AMC IPO

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