TCNS Clothing IPO vs Varroc Engineering IPO

Comparision between TCNS Clothing IPO and Varroc Engineering IPO.

IPO Details

TCNS Clothing IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Varroc Engineering IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	TCNS Clothing IPO	Varroc Engineering 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 Kotak Mahindra Capital Company Limited	Citigroup Global Markets India Private Limited Credit Suisse Securities (India) Private Limited Iifl Securities Ltd Kotak Mahindra Capital Company 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 TCNS Clothing IPO is up to ₹1,125.13 Cr whereas the issue size of the Varroc Engineering IPO is up to ₹1,945.77 Cr. The final issue price of TCNS Clothing IPO is ₹716.00 per share and of Varroc Engineering IPO is ₹967.00 per share.

	TCNS Clothing IPO	Varroc Engineering IPO
Face Value	₹2 per share	₹1 per share
Issue Price (Lower)	₹714.00 per share	₹965.00 per share
Issue Price (Upper)	₹716.00 per share	₹967.00 per share
Issue Price (Final)	₹716.00 per share	₹967.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	20 shares	15 shares
Fresh Issue Size
Fresh Issue Size (Amount)
OFS Issue Size	1,57,14,038 shares
OFS Issue Size (Amount)
Issue Size Total	1,57,14,038 shares	2,01,21,730 shares
Issue Size Total (Amount)	up to ₹1,125.13 Cr	up to ₹1,945.77 Cr

IPO Timetable

TCNS Clothing IPO opens on Jul 18, 2018, while Varroc Engineering IPO opens on Jun 26, 2018. The closing date of TCNS Clothing IPO and Varroc Engineering IPO is Jul 20, 2018, and Jun 28, 2018, respectively.

	TCNS Clothing IPO	Varroc Engineering IPO
Anchor Bid Date
Issue Open	Jul 18, 2018	Jun 26, 2018
Issue Close	Jul 20, 2018	Jun 28, 2018
Basis Of Allotment (Tentative)	Jul 25, 2018	Jul 03, 2018
Initiation of Refunds (Tentative)	Jul 26, 2018	Jul 04, 2018
Credit of Share (Tentative)	Jul 27, 2018	Jul 05, 2018
Listing date (Tentative)	Jul 30, 2018	Jul 06, 2018
Anchor Lockin End date 1	Aug 24, 2018	Aug 02, 2018
Anchor Lockin End date 2	Oct 23, 2018	Oct 01, 2018

Financials

TCNS Clothing IPO P/E ratio is , as compared to Varroc Engineering IPO P/E ratio of .

TCNS Clothing IPO

Varroc Engineering IPO

Financial

Summary of financial Information (Restated Standalone)
Particulars	For the year/period ended (in Rs. Million)
	31-Mar-18	31-Mar-17	31-Mar-16 (Proforma)
Total Assets	5,763.59	4,258.04	3,087.843
Total Revenue	8,491.57	7,129.73	4,881.35
Profit After Tax	980.97	157.97	(414.96)

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Million)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15
Total Assets	68,523.92	58,603.80	52,458.55	44,284.68
Total Revenue	104,170.67	97,022.69	82,395.20	70,384.64
Profit After Tax	4,507.77	3,033.89	3,698.23	168.09

Promoter Shareholding (Pre-Issue)

Promoter Shareholding (Post-Issue)

P/E Ratio

Market Cap

ROE

ROCE

Debt/Equity

EPS

RoNW

Shares Offered

In the TCNS Clothing IPO retail investors (RII) are offered 54,99,914 shares while in Varroc Engineering IPO retail investors are offered 54,99,914 shares. Qualified institutional buyers (QIB) are offered 34,12,808 shares in TCNS Clothing IPO and 40,24,346 shares in Varroc Engineering IPO.

	TCNS Clothing IPO	Varroc Engineering IPO
Anchor Investor Reserveration	47,14,210 shares
Market Maker Reserveration
QIB	34,12,808 shares	40,24,346 shares
NII	23,57,106 shares	30,18,260 shares
RII	54,99,914 shares	70,42,606 shares
Employee	0 shares	1,00,000 shares
Others
Total	1,12,69,828 shares	1,41,85,212 shares

Bids Received (Subscription)

TCNS Clothing IPO subscribed 5.22x in total, whereas Varroc Engineering IPO subscribed 3.54x.

	TCNS Clothing IPO	Varroc Engineering IPO
QIB (times)	13.47x	9.15x
NII (times)	5.08x	2.45x
Big NII (times)
Small NII (times)
RII (times)	0.57x	0.84x
Employee (times)		0.63x
Other (times)
Total (times)	5.22x	3.54x

Compare with others

TCNS Clothing IPO	Varroc Engineering IPO
Xelpmoc Design and Tech IPO	Garden Reach Shipbuilders IPO
Aavas Financiers IPO	Chalet Hotels Limited IPO
IRCON International IPO	TCNS Clothing IPO
Garden Reach Shipbuilders IPO	CreditAccess Grameen IPO
Chalet Hotels Limited IPO	HDFC AMC IPO
CreditAccess Grameen IPO	Fine Organic IPO
HDFC AMC IPO	RITES Limited IPO
Varroc Engineering IPO	IndoStar Capital Finance IPO
Fine Organic IPO	Lemon Tree Hotels IPO
RITES Limited IPO	ICICI Securities IPO

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