MAS Financial IPO vs Reliance Nippon Life IPO

Comparision between MAS Financial IPO and Reliance Nippon Life IPO.

IPO Details

MAS Financial IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Reliance Nippon Life IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	MAS Financial IPO	Reliance Nippon Life 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	Motilal Oswal Investment Advisors Limited	Axis Capital Limited Clsa India Private Limited Edelweiss Financial Services Ltd Iifl Securities Ltd Jm Financial Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets Limited Yes Bank Limited
Registrar	Link Intime India Private Ltd	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 MAS Financial IPO is up to ₹460.04 Cr whereas the issue size of the Reliance Nippon Life IPO is up to ₹1,542.24 Cr. The final issue price of MAS Financial IPO is ₹459.00 per share and of Reliance Nippon Life IPO is ₹252.00 per share.

	MAS Financial IPO	Reliance Nippon Life IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹456.00 per share	₹247.00 per share
Issue Price (Upper)	₹459.00 per share	₹252.00 per share
Issue Price (Final)	₹459.00 per share	₹252.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	32 shares	59 shares
Fresh Issue Size		2,44,80,000 shares
Fresh Issue Size (Amount)	up to ₹233.00 Cr
OFS Issue Size		3,67,20,000 shares
OFS Issue Size (Amount)	up to ₹227.04 Cr
Issue Size Total		6,12,00,000 shares
Issue Size Total (Amount)	up to ₹460.04 Cr	up to ₹1,542.24 Cr

IPO Timetable

MAS Financial IPO opens on Oct 06, 2017, while Reliance Nippon Life IPO opens on Oct 25, 2017. The closing date of MAS Financial IPO and Reliance Nippon Life IPO is Oct 10, 2017, and Oct 27, 2017, respectively.

	MAS Financial IPO	Reliance Nippon Life IPO
Anchor Bid Date
Issue Open	Oct 06, 2017	Oct 25, 2017
Issue Close	Oct 10, 2017	Oct 27, 2017
Basis Of Allotment (Tentative)	Oct 13, 2017	Nov 01, 2017
Initiation of Refunds (Tentative)	Oct 16, 2017	Nov 03, 2017
Credit of Share (Tentative)	Oct 17, 2017	Nov 03, 2017
Listing date (Tentative)	Oct 18, 2017	Nov 06, 2017
Anchor Lockin End date 1	Nov 12, 2017	Dec 01, 2017
Anchor Lockin End date 2	Jan 11, 2018	Jan 30, 2018

Financials

MAS Financial IPO P/E ratio is , as compared to Reliance Nippon Life IPO P/E ratio of .

MAS Financial IPO

Reliance Nippon Life IPO

Financial

Summary of financial Information (Consolidated)
Particulars	For the year/period ended (in Rs. million)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	20,244.79	18,126.51	14,877.85	10,776.32	7,715.68
Total Revenue	3,415.17	2,887.04	2,265.28	1,776.78	1,388.47
Profit After Tax	674.17	500.08	388.20	316.76	268.39

Summary of financial Information (Consolidated)
Particulars	For the year/period ended (in Rs. million)
	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14	31-Mar-13
Total Assets	20,198.10	18,857.91	16,629.97	16,812.08	15,087.00
Total Revenue	14,004.38	12,710.70	9,301.15	7,840.26	7,126.74
Profit After Tax	4,055.70	3,901.24	3,495.94	3,023.01	1,989.60

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the MAS Financial IPO retail investors (RII) are offered 34,77,296 shares while in Reliance Nippon Life IPO retail investors are offered 34,77,296 shares. Qualified institutional buyers (QIB) are offered 19,87,028 shares in MAS Financial IPO and 1,22,40,000 shares in Reliance Nippon Life IPO.

	MAS Financial IPO	Reliance Nippon Life IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	19,87,028 shares	1,22,40,000 shares
NII	14,90,270 shares	91,80,000 shares
RII	34,77,296 shares	2,14,20,000 shares
Employee	1,70,316 shares
Others
Total	71,24,910 shares	4,28,40,000 shares

Bids Received (Subscription)

MAS Financial IPO subscribed 128.39x in total, whereas Reliance Nippon Life IPO subscribed 81.54x.

	MAS Financial IPO	Reliance Nippon Life IPO
QIB (times)	148.33x	118.40x
NII (times)	378.53x	209.44x
Big NII (times)
Small NII (times)
RII (times)	15.97x	5.65x
Employee (times)	2.41x
Other (times)
Total (times)	128.39x	81.54x

Compare with others

MAS Financial IPO	Reliance Nippon Life IPO
New India Assurance IPO	Astron Paper IPO
Mahindra Logistics IPO	HDFC Life IPO
Reliance Nippon Life IPO	Khadim India IPO
General Insurance Corporation IPO	New India Assurance IPO
Indian Energy Exchange IPO	Mahindra Logistics IPO
Godrej Agrovet IPO	General Insurance Corporation IPO
ICICI Lombard IPO	Indian Energy Exchange IPO
SBI Life Insurance IPO	MAS Financial IPO
Capacite Infra IPO	Godrej Agrovet IPO
Matrimony IPO	ICICI Lombard IPO

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