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Aavas Financiers IPO overview :
Aavas Financiers serves low and middle income self employed customers in semi-urban and rural areas in India with affordable housing finance options. The company offers customers home loans for the purchase or construction of residential properties, and for the extension and repair of existing housing units. As of 31 March 2018, a majority of the home loans that it disbursed were for single-unit properties, almost all of which were to be occupied by the borrowers themselves. In addition to home loans, it offers customers other mortgage loans including loans against property, which accounted for 22.44% of its Gross Loan Assets as of 31 March 2018.

As of 31 March 2018, 60.40% of its Gross Loan Assets were from customers who belonged to the economically weaker section and low income group, earning less than ? 50,000 per month and 34.76% of its Gross Loan Assets were from customers who were new to credit. The average sanctioned amount of its home loans and other mortgage loans was ? 0.88 million and ? 0.80 million, respectively.

Aavas Financiers has adopted a strategy of contiguous on-ground expansion across regions and conducted operations through 165 branches spread across 92 districts in eight states as of 31 March 2018, with significant presence in the four states of Rajasthan, Gujarat, Maharashtra and Madhya Pradesh. As of 31 March 2018, it employed 1,862 personnel and had 52,788 loan accounts including securitized and assigned cases.

Promoters of Aavas Financiers - Lake District Holdings Limited and Partners Group ESCL Limited
Aavas Financiers IPO details
Subscription Dates 25 - 27 September 2018
Price Band INR818 - 821 per share
Fresh issue INR400 crore
Offer For Sale 16,249,359 shares (INR1,329.2 - 1,334.1 crore)
Total IPO size INR1,729.2 - 1,734.1 crore
Minimum bid (lot size) 18 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Aavas Financiers' standalone financial performance(in INR crore)
FY2014 FY2015 FY2016 FY2017 FY2018
Total revenues 54.3 103.6 190.8 305.5 457.2
Total expenses 44.9 74.8 140.9 217.9 315.5
Profit after tax 6.3 19.1 32.8 57.1 92.9
Net margin (%) 11.6 18.4 17.2 18.7 20.3

Garden Reach Shipbuilders IPO overview :
Garden Reach Shipbuilders is a shipbuilding company in India under the administrative control of the MoD and primarily adheres to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard. In addition to ship and warship building capabilities, the company is engaged in engineering and engine production activities. As a part of its engineering division, it manufactures deck machinery items, pre-fabricated portable steel bridges and marine pumps. Its shipbuilding division contributes the maximum to revenue from operations and accounted for 81.23% and 75.10% of gross revenues from operations for the six months ended 30 September 2017 and 12 months ended 31 March 2017.

In last 5 decades, it has built and delivered more than 750 vessels ranging from small to large and advanced vessels to carry men and materials as well as for the surveillance of the coast line. The company has 3 separate facilities for shipbuilding, all of which are located in close vicinity of each other at Kolkata. It builds ships at the Main Works Unit and the Rajabagan Dockyard. The third facility, the FOJ Unit is primarily used for fitting out and repair of ships. The company acquired the Rajabagan Dockyard from Central Inland Water Transport Corporation Limited in the year 2006. The DEP Unit (Diesel Engine Plant) in Ranchi is engaged in the testing and overhauling of marine propulsion engines and assembly of semi-knocked down units of diesel engines.

Promoters of Garden Reach Shipbuilders - The President Of India

Garden Reach Shipbuilders IPO details
Subscription Dates 24 - 26 September 2018
Price Band INR115 - 118 per share (retail discount - INR5 per share)
Fresh issue Nil
Offer For Sale 20,046,600 shares (INR230.54 - 236.55 crore)
Total IPO size 20,046,600 shares (INR230.54 - 236.55 crore)
Minimum bid (lot size) 120 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

Garden Reach Shipbuilders' financial performance (in INR crore)
FY2013* FY2014* FY2015 FY2016 FY2017 FY2018
Total revenues 1,599.7 1,693.2 1,629.4 1,856.1 1,146.3 1,525.7
Total expenses 1,405.3 1,511.9 1,539.3 1,604.5 1,126.2 1,398.0
Profit after tax 131.8 116.6 45.8 159.6 11.7 94.4
Net margin (%) 8.2 6.9 2.8 8.6 1.0 6.2

* Figures of FY2013 and FY2014 are based on Indian GAAP. Figures for subsequent years are based on Ind AS.

Dinesh Engineers IPO overview :
Dinesh Engineers is a passive communication infrastructure provider in India, focused on providing passive communication infrastructure services mainly to the Telecom operators and internet service providers (ISPs). The company was incorporated in 2006, and has been working towards executing the fiber laying work for many telecom operators. The company has been licensed by Department of Telecommunications (DoT) with the Infrastructure Provider (IP)-I License, under which it can establish and maintain wired networks, duct space for the purpose to grant on lease or sale on IRU basis to the licensees of Telecom operators, ISPs etc.

Since the receipt of the IP-I license, it has created its own optic fibre network of around 7500 kms which runs across the state of Rajasthan, Gujarat, Maharashtra, Goa, Karnataka, Andhra Pradesh and Telengana. Its wired network infrastructure solutions are used by several telecom companies such as Airtel, BSNL, Reliance Jio, Vodafone, Idea, Tata Communication etc.

Since the year 2011, it has laid fibre network of around 9500 Kms for the telecom operators under the Vendor projects which run across the states of Maharashtra, Gujarat, Uttar Pradesh, Bihar, Karnataka, Andhra Pradesh, Chhattisgarh, Goa and Rajasthan and are currently being used by companies like BSNL, Airtel, Vodafone, Idea Cellular, Reliance Jio, TTML, BSNL, Reliance Corporate IT Park and TCIL. Apart from the above, the company has Mahanagar Gas Limited in its client list for gas pipeline work.

Promoters of Dinesh Engineers - Mr Dinesh Kollaiah Kargal & Mrs Shashikala Dinesh Kargal

Dinesh Engineers IPO details
Subscription Dates 28 September - 3 October 2018
Price Band INR183 - 185 per share
Fresh issue 10,000,000 shares (INR183 - 185 crore)
Offer For Sale Nil
Total IPO size 10,000,000 shares(INR183 - 185 crore)
Minimum bid (lot size) 80 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Dinesh Engineers' financial performance (in INR crore)
FY2015 FY2016 FY2017 FY2018
Total revenues 51.2 122.5 169.9 302.8
Total expenses 41.1 102.8 136.1 207.5
Profit after tax 6.9 12.9 22.0 61.8
Net margin (%) 13.5 10.5 12.9 20.4

IRCON International is an integrated Indian engineering and construction company, specializing in major infrastructure projects, including railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangers, runways, EHV sub-stations, electrical and mechanical works, development of industrial areas and other infrastructure activities. The company provides EPC services on a fixed-sum turnkey basis as well as on an item-rate basis. It also executes on build, operate and transfer mode in various projects in order to meet the requirements of its bids. In 2016, the company was ranked number 248 in the list of top 250 international contractors by Engineering News Record (ENR) of the United States.

The company is headquartered in Saket, New Delhi and has 26 project offices and five regional offices across India to support and manage its business operations. In addition, it has five overseas project offices in Sri Lanka, Bangladesh, Malaysia, South Africa and Algeria to provide onsite support overseas. As of 31 December 2017, it had an order book of INR223,871.7 million.

Promoters of IRCON International - The President of India

IRCON International IPO details
Subscription Dates 17 - 19 September 2018
Price Band INR470 - 475 per share (retail discount - INR10 per share)
Fresh issue Nil
Offer For Sale 9,905,157 shares (INR465.54 - 470.49 crore)
Total IPO size 9,905,157 shares(INR465.54 - 470.49 crore)
Minimum bid (lot size) 30 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

IRCON International's financial performance(in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018
Total revenues 4,543.2 4,150.8 3,232.5 2,908.6 3,301.3 4,212.4
Total expenses 3,453.2 3,053.4 2,390.1 2,302.5 2,824.9 3,659.2
Profit after tax 804.9 747.0 570.1 362.4 397.7 413.0
Net margin (%) 17.7 18.0 17.6 12.5 12.1 9.8

Business description :
CreditAccess Grameen is a leading micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India. According to CRISIL Research, it was the third largest NBFC-MFI in India in terms of gross loan portfolio as of March 31, 2017. Its range of lending products addresses the critical needs of customers throughout their life cycle and includes income generation, family welfare, home improvement and emergency loans.

The company focuses predominantly on customers in rural areas in India, who largely lack access to the formal banking sector and present a latent opportunity for offering micro-loans. Its products are built on a deep understanding of the requirements of its customers and the flexibility of its products (in terms of ticket sizes, end-uses and repayment options). Its focus customer segment is women having an annual household income of INR160,000 or less in Urban Areas and INR100,000 or less in Rural Areas. It provides loans primarily under the joint liability group (JLG) model. The company's primary focus is to provide income generation loans to its customers, which comprised 86.81% of its total JLG loan portfolio, as of September 30, 2017. CreditAccess Grameen also provides other categories of loans such as family welfare loans, home improvement loans and emergency loans to existing customers. In 2016, it introduced individual retail finance loans for customers who had been its customers for at least three years and fulfil certain other eligibility criteria linked primarily to their credit history, income and business position.

Promoters of CreditAccess Grameen - CreditAccess Asia NV

CreditAccess Grameen IPO details
Subscription Dates 8 - 10 August 2018
Price Band INR418 - 422 per share
Fresh issue INR630 crore
Offer For Sale 11,876,485 shares (INR496.44 - 501.19 crore)
Total IPO size INR1,126.44 - 1,131.19 crore
Minimum bid (lot size) 35 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
CreditAccess Grameen's financial performance(in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018
Total revenues 89.2 147.8 281.4 466.7 709.3 875.2
Total expenses 81.7 123.0 206.5 337.2 585.0 682.3
Profit after tax 7.9 16.6 48.7 83.2 80.3 124.6
Net margin (%) 8.9 11.2 17.3 17.8 11.3 14.2