Equitas Small Finance Bank IPO vs SBI Cards IPO

Comparision between Equitas Small Finance Bank IPO and SBI Cards IPO.

IPO Details

Equitas Small Finance Bank IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while SBI Cards IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Equitas Small Finance Bank IPO	SBI Cards 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	Edelweiss Financial Services Ltd Iifl Securities Ltd Jm Financial Limited	Axis Capital Limited Bofa Securities India Limited Hsbc Securities & Capital Markets Pvt Ltd Kotak Mahindra Capital Company Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets 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 Equitas Small Finance Bank IPO is up to ₹517.60 Cr whereas the issue size of the SBI Cards IPO is up to ₹10,354.77 Cr. The final issue price of Equitas Small Finance Bank IPO is ₹33.00 per share and of SBI Cards IPO is ₹755.00 per share.

	Equitas Small Finance Bank IPO	SBI Cards IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹32.00 per share	₹750.00 per share
Issue Price (Upper)	₹33.00 per share	₹755.00 per share
Issue Price (Final)	₹33.00 per share	₹755.00 per share
Discount (Retail)	₹0.00 per share
Discount (Employee)	₹0.00 per share	₹75.00 per share
Market Lot Size	450 shares	19 shares
Fresh Issue Size		66,22,517 shares
Fresh Issue Size (Amount)	up to ₹280.00 Cr	up to ₹500.00 Cr
OFS Issue Size	7,20,00,000 shares	13,05,26,798 shares
OFS Issue Size (Amount)	up to ₹237.60 Cr	up to ₹9,854.77 Cr
Issue Size Total		13,71,93,464 shares
Issue Size Total (Amount)	up to ₹517.60 Cr	up to ₹10,354.77 Cr

IPO Timetable

Equitas Small Finance Bank IPO opens on Oct 20, 2020, while SBI Cards IPO opens on Mar 02, 2020. The closing date of Equitas Small Finance Bank IPO and SBI Cards IPO is Oct 22, 2020, and Mar 05, 2020, respectively.

	Equitas Small Finance Bank IPO	SBI Cards IPO
Anchor Bid Date
Issue Open	Oct 20, 2020	Mar 02, 2020
Issue Close	Oct 22, 2020	Mar 05, 2020
Basis Of Allotment (Tentative)	Oct 27, 2020	Mar 11, 2020
Initiation of Refunds (Tentative)	Oct 28, 2020	Mar 12, 2020
Credit of Share (Tentative)	Oct 29, 2020	Mar 13, 2020
Listing date (Tentative)	Nov 02, 2020	Mar 16, 2020
Anchor Lockin End date 1	Nov 26, 2020	Apr 10, 2020
Anchor Lockin End date 2	Jan 25, 2021	Jun 09, 2020

Financials

Equitas Small Finance Bank IPO P/E ratio is , as compared to SBI Cards IPO P/E ratio of 45.8.

Equitas Small Finance Bank IPO

SBI Cards IPO

Financial

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Million)
	30-Jun-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	208,921.39	193,145.47	157,626.91	133,011.50
Total Revenue	7,509.68	29,277.95	23,948.32	17,729.03
Profit After Tax	576.71	2,436.35	2,105.66	318.31

Summary of financial Information (Restated)
Particulars	For the year/period ended (Rs in Million)
	31-Dec-19	31-March-19	31-Mar-18	31-Mar-17
Total Assets	259,934.65	202,396.36	156,860.07	107,649.82
Total Revenue	72,401.56	72,868.35	53,701.92	34,710.38
Profit After Tax	11,612.07	8,627.22	6,011.42	3,728.61

Promoter Shareholding (Pre-Issue)

74%

Promoter Shareholding (Post-Issue)

69.51%

P/E Ratio

45.8

Market Cap

₹70890.00 Cr.

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the Equitas Small Finance Bank IPO retail investors (RII) are offered 5,01,37,500 shares while in SBI Cards IPO retail investors are offered 5,01,37,500 shares. Qualified institutional buyers (QIB) are offered 2,79,75,001 shares in Equitas Small Finance Bank IPO and 2,42,24,003 shares in SBI Cards IPO.

	Equitas Small Finance Bank IPO	SBI Cards IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	2,79,75,001 shares	2,42,24,003 shares
NII	2,14,87,500 shares	1,83,41,418 shares
RII	5,01,37,500 shares	4,27,96,641 shares
Employee	3,12,500 shares	18,64,669 shares
Others
Total	11,58,50,001 shares	10,02,79,411 shares

Bids Received (Subscription)

Equitas Small Finance Bank IPO subscribed 1.95x in total, whereas SBI Cards IPO subscribed 26.54x.

	Equitas Small Finance Bank IPO	SBI Cards IPO
QIB (times)	3.91x	57.18x
NII (times)	0.22x	45.23x
Big NII (times)
Small NII (times)
RII (times)	2.08x	2.50x
Employee (times)	1.84x	4.74x
Other (times)	0.42x	25.36x
Total (times)	1.95x	26.54x

Compare with others

Equitas Small Finance Bank IPO	SBI Cards IPO
CAMS IPO	Mindspace REIT
UTI AMC IPO	Yes Bank FPO
Mindspace REIT	Rossari Biotech IPO
Yes Bank FPO	Equitas Small Finance Bank IPO
Rossari Biotech IPO	Prince Pipes IPO
Prince Pipes IPO	Ujjivan Bank IPO
SBI Cards IPO	CSB Bank IPO
Ujjivan Bank IPO	IRCTC IPO
CSB Bank IPO	Vishwaraj IPO
IRCTC IPO	Sterling and Wilson IPO

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