SRM Contractors IPO vs VI FPO

Comparision between SRM Contractors IPO and VI FPO.

IPO Details

SRM Contractors IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while VI FPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	SRM Contractors IPO	VI FPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	FPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Interactive Financial Services Ltd	Axis Capital Limited Jefferies India Private Limited SBI Capital Markets Limited
Registrar	Bigshare Services Pvt Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of SRM Contractors IPO is up to ₹130.20 Cr whereas the issue size of the VI FPO is up to ₹18,000.00 Cr. The final issue price of SRM Contractors IPO is ₹210.00 per share and of VI FPO is ₹11.00 per share.

	SRM Contractors IPO	VI FPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹200.00 per share	₹10.00 per share
Issue Price (Upper)	₹210.00 per share	₹11.00 per share
Issue Price (Final)	₹210.00 per share	₹11.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	70 shares	1298 shares
Fresh Issue Size	62,00,000 shares	16,36,36,36,363 shares
Fresh Issue Size (Amount)	up to ₹130.20 Cr	up to ₹18,000.00 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	62,00,000 shares	16,36,36,36,363 shares
Issue Size Total (Amount)	up to ₹130.20 Cr	up to ₹18,000.00 Cr

IPO Timetable

SRM Contractors IPO opens on Mar 26, 2024, while VI FPO opens on Apr 18, 2024. The closing date of SRM Contractors IPO and VI FPO is Mar 28, 2024, and Apr 22, 2024, respectively.

	SRM Contractors IPO	VI FPO
Anchor Bid Date	Mar 22, 2024	Apr 16, 2024
Issue Open	Mar 26, 2024	Apr 18, 2024
Issue Close	Mar 28, 2024	Apr 22, 2024
Basis Of Allotment (Tentative)	Apr 01, 2024	Apr 23, 2024
Initiation of Refunds (Tentative)	Apr 02, 2024	Apr 24, 2024
Credit of Share (Tentative)	Apr 02, 2024	Apr 24, 2024
Listing date (Tentative)	Apr 03, 2024	Apr 25, 2024
Anchor Lockin End date 1	May 01, 2024	May 23, 2024
Anchor Lockin End date 2	Jun 30, 2024	Jul 22, 2024

Financials

SRM Contractors IPO P/E ratio is 18.76, as compared to VI FPO P/E ratio of -1.88.

SRM Contractors IPO

VI FPO

Financial

SRM Contractors Limited Financial Information (Restated Consolidated)

SRM Contractors Limited's revenue increased by 13.24% and profit after tax (PAT) rose by 6.71% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	168.87	137.36	120.22	112.47
Revenue	242.28	300.65	265.51	161.95
Profit After Tax	21.07	18.75	17.57	8.27
Net Worth	37.24	63.16	44.41	26.85
Reserves and Surplus	67.48	46.41	42.89	25.32
Total Borrowing	42.32	47.16	31.52	31.96
Amount in ₹ Crore

Vodafone Idea Limited Financial Information (Restated Consolidated)

Vodafone Idea Limited's revenue increased by 9.95% and profit after tax (PAT) dropped by -3.74% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	190,801.80	207,242.70	194,029.10	203,480.60
Revenue	32,125.60	42,488.50	38,644.90	42,126.40
Profit After Tax	-23,563.80	-29,301.10	-28,245.40	-44,233.10
Net Worth	-97,931.90	-74,359.10	-61,964.80	-38,228.00
Reserves and Surplus	-146,611.60	-123,038.80	-94,083.60
Total Borrowing	203,425.70	201,586.00	190,917.70	180,310.30
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

99.92%

48.75%

Promoter Shareholding (Post-Issue)

72.92%

36.87%

P/E Ratio

18.76

-1.88

Market Cap

₹481.83 Cr.

₹73131.80 Cr.

ROE

ROCE

29.43%%

Debt/Equity

0.5

EPS

₹11.20

₹-5.85

RoNW

25.02%%

Shares Offered

In the SRM Contractors IPO retail investors (RII) are offered 21,70,000 shares while in VI FPO retail investors are offered 21,70,000 shares. Qualified institutional buyers (QIB) are offered 12,40,100 shares in SRM Contractors IPO and 3,27,27,27,273 shares in VI FPO.

	SRM Contractors IPO	VI FPO
Anchor Investor Reserveration	18,59,900 shares	4,90,90,90,908 shares
Market Maker Reserveration
QIB	12,40,100 shares	3,27,27,27,273 shares
NII	9,30,000 shares	2,45,45,45,454 shares
RII	21,70,000 shares	5,72,72,72,727 shares
Employee	0 shares	0 shares
Others
Total	43,40,100 shares	11,45,45,45,454 shares

Bids Received (Subscription)

SRM Contractors IPO subscribed 86.57x in total, whereas VI FPO subscribed 6.99x.

	SRM Contractors IPO	VI FPO
QIB (times)	59.59x	19.31x
NII (times)	214.94x	4.54x
Big NII (times)	220.57x	6.04x
Small NII (times)	203.67x	1.55x
RII (times)	46.97x	1.01x
Employee (times)
Other (times)
Total (times)	86.57x	6.99x

Compare with others

SRM Contractors IPO	VI FPO
TBO Tek IPO	Go Digit IPO
Indegene IPO	Aadhar Housing Finance IPO
JNK India IPO	TBO Tek IPO
VI FPO	Indegene IPO
Bharti Hexacom IPO	JNK India IPO
Popular Vehicles & Services IPO	Bharti Hexacom IPO
Gopal Namkeen IPO	SRM Contractors IPO
Krystal Integrated Services IPO	Popular Vehicles & Services IPO
JG Chemicals IPO	Gopal Namkeen IPO
Bharat Highways InvIT	Krystal Integrated Services IPO

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