REC FPO vs Vascon Engineers IPO

Comparision between REC FPO and Vascon Engineers IPO.

IPO Details

REC FPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Vascon Engineers IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	REC FPO	Vascon Engineers IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	FPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Bofa Securities India Limited ICICI Securities Limited Jm Financial Limited Kotak Mahindra Capital Company Limited	Axis Capital Limited Kotak Mahindra Capital Company 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 REC FPO is up to ₹3,530.04 Cr whereas the issue size of the Vascon Engineers IPO is up to ₹178.20 Cr. The final issue price of REC FPO is ₹203.00 per share and of Vascon Engineers IPO is ₹165.00 per share.

	REC FPO	Vascon Engineers IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹203.00 per share	₹165.00 per share
Issue Price (Upper)		₹185.00 per share
Issue Price (Final)	₹203.00 per share	₹165.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	30 shares	35 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	17,17,32,000 shares	1,08,00,000 shares
Issue Size Total (Amount)	up to ₹3,530.04 Cr	up to ₹178.20 Cr

IPO Timetable

REC FPO opens on Feb 19, 2010, while Vascon Engineers IPO opens on Jan 27, 2010. The closing date of REC FPO and Vascon Engineers IPO is Feb 23, 2010, and Jan 29, 2010, respectively.

	REC FPO	Vascon Engineers IPO
Anchor Bid Date
Issue Open	Feb 19, 2010	Jan 27, 2010
Issue Close	Feb 23, 2010	Jan 29, 2010
Basis Of Allotment (Tentative)
Initiation of Refunds (Tentative)
Credit of Share (Tentative)
Listing date (Tentative)
Anchor Lockin End date 1
Anchor Lockin End date 2

Financials

REC FPO P/E ratio is , as compared to Vascon Engineers IPO P/E ratio of .

REC FPO

Vascon Engineers IPO

Financial

Particulars	For the year/period ended (Rs. in Million)
	31-Mar-08	31-Mar-09	30-Sep-08	30-Sep-09
Total Income	35,410.81	49,233.06	21,980.10	31,367.14
Profit After Tax (PAT)	9,655.87	13,780.14	6,136.21	9,290.57

Particulars	For the year/period ended (Rs. in Million)
	31-Mar-09	31-Mar-08	31-Mar-07	31-Mar-06
Total Income	5,247.57	6,205.34	3,992.46	1,430.60
Profit After Tax (PAT)	192.60	595.06	466.23	127.01

Promoter Shareholding (Pre-Issue)

43.81%

Promoter Shareholding (Post-Issue)

38.41%

P/E Ratio

Market Cap

ROE

6.9%%

ROCE

Debt/Equity

EPS

RoNW

7.85%%

Shares Offered

In the REC FPO retail investors (RII) are offered 5,99,83,700 shares while in Vascon Engineers IPO retail investors are offered 5,99,83,700 shares. Qualified institutional buyers (QIB) are offered 8,56,91,000 shares in REC FPO and 64,20,000 shares in Vascon Engineers IPO.

	REC FPO	Vascon Engineers IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	8,56,91,000 shares	64,20,000 shares
NII	2,57,07,300 shares	10,70,000 shares
RII	5,99,83,700 shares	32,10,000 shares
Employee	3,50,000 shares	1,00,000 shares
Others
Total	17,17,32,000 shares	1,08,00,000 shares

Bids Received (Subscription)

REC FPO subscribed 3.14x in total, whereas Vascon Engineers IPO subscribed 1.22x.

	REC FPO	Vascon Engineers IPO
QIB (times)	5.52x	1.12x
NII (times)	2.05x	3.65x
Big NII (times)
Small NII (times)
RII (times)	0.23x	0.62x
Employee (times)	0.85x	0.54x
Other (times)
Total (times)	3.14x	1.22x

Compare with others

REC FPO	Vascon Engineers IPO
Man Infraconstruction IPO	ARSS Infra IPO
Texmo IPO	Hathway Cable IPO
ARSS Infra IPO	DB Realty IPO
Hathway Cable IPO	REC FPO
DB Realty IPO	Emmbi Polyarns IPO
Emmbi Polyarns IPO	Syncom Healthcare IPO
Vascon Engineers IPO	Thangamayil IPO
Syncom Healthcare IPO	Jubilant Foodworks IPO
Thangamayil IPO	Birla Shloka FPO
Jubilant Foodworks IPO	Aqua Logistics IPO

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