L&T Finance IPO vs SRS IPO

Comparision between L&T Finance IPO and SRS IPO.

IPO Details

L&T Finance IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while SRS IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	L&T Finance IPO	SRS 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	Citigroup Global Markets India Private Limited Hsbc Securities & Capital Markets Pvt Ltd Jm Financial Limited	Idbi Capital Market Services Limited Karvy Investor Services Limited Spa Capital Advisors Ltd
Registrar	Sharepro Services Private Limited	Beetal Financial & Computer Services (P) 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 L&T Finance IPO is up to ₹1,245.00 Cr whereas the issue size of the SRS IPO is up to ₹203.00 Cr. The final issue price of L&T Finance IPO is ₹52.00 per share and of SRS IPO is ₹58.00 per share.

	L&T Finance IPO	SRS IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹51.00 per share	₹58.00 per share
Issue Price (Upper)	₹59.00 per share	₹65.00 per share
Issue Price (Final)	₹52.00 per share	₹58.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	100 shares	100 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total		3,50,00,000 shares
Issue Size Total (Amount)	up to ₹1,245.00 Cr	up to ₹203.00 Cr

IPO Timetable

L&T Finance IPO opens on Jul 27, 2011, while SRS IPO opens on Aug 23, 2011. The closing date of L&T Finance IPO and SRS IPO is Jul 29, 2011, and Aug 26, 2011, respectively.

	L&T Finance IPO	SRS IPO
Anchor Bid Date
Issue Open	Jul 27, 2011	Aug 23, 2011
Issue Close	Jul 29, 2011	Aug 26, 2011
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

L&T Finance IPO P/E ratio is , as compared to SRS IPO P/E ratio of .

L&T Finance IPO

SRS IPO

Financial

Particulars	For the year/period ended (in Rs. Million)
	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08	31-Mar-07
Total Income	20,775.34	13,298.62	5,144.58	1,877.95	595.55
Profit After Tax (PAT)	373.88	261.57	55.91	104.75	101.11

Promoter Shareholding (Pre-Issue)

95.94%

98.89%

Promoter Shareholding (Post-Issue)

82.64%

74.04%

P/E Ratio

Market Cap

ROE

ROCE

13.6%%

Debt/Equity

EPS

RoNW

13.58%%

11.9%%

Shares Offered

In the L&T Finance IPO retail investors (RII) are offered 7,37,74,510 shares while in SRS IPO retail investors are offered 7,37,74,510 shares. Qualified institutional buyers (QIB) are offered 7,53,82,416 shares in L&T Finance IPO and 1,75,00,000 shares in SRS IPO.

	L&T Finance IPO	SRS IPO
Anchor Investor Reserveration
Market Maker Reserveration
QIB	7,53,82,416 shares	1,75,00,000 shares
NII	3,16,17,647 shares	52,50,000 shares
RII	7,37,74,510 shares	1,22,50,000 shares
Employee	1,02,04,082 shares
Others
Total	21,45,08,067 shares	3,50,00,000 shares

Bids Received (Subscription)

L&T Finance IPO subscribed 5.34x in total, whereas SRS IPO subscribed 1.25x.

	L&T Finance IPO	SRS IPO
QIB (times)	1.93x	0.75x
NII (times)	6.18x	5.11x
Big NII (times)
Small NII (times)
RII (times)	9.61x	0.32x
Employee (times)	1.53x
Other (times)	3.35x
Total (times)	5.34x	1.25x

Compare with others

L&T Finance IPO	SRS IPO
TD Power IPO	Prakash Constrowell IPO
Brooks Labs IPO	PG Electroplast IPO
Tree House IPO	TD Power IPO
SRS IPO	Brooks Labs IPO
Inventure Securities IPO	Tree House IPO
Bharatiya Global Infomedia IPO	Inventure Securities IPO
Readymade Steel India IPO	L&T Finance IPO
Rushil Decor IPO	Bharatiya Global Infomedia IPO
Birla Pacific Medspa IPO	Readymade Steel India IPO
VMS Industries IPO	Rushil Decor IPO

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