APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Ventive Hospitality Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ventive-hospitality-ltd" target="_blank" data-smartkarma-citation="entities:43933:1" rel="noopener">Ventive Hospitality Ltd (0807075D IN)</a> is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares, is downsized from an earlier size of ~US$240m.</li>
<li>Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



Ventive Hospitality Ltd (0807075D IN) is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares, is downsized from an earlier size of ~US$240m.
Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Ventive Hospitality IPO - Quick Thoughts on Peer Comp and Valuation

Continuum Green Energy Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/continuum-green-energy-ltd" target="_blank" data-smartkarma-citation="entities:44172:1" rel="noopener">Continuum Green Energy Ltd (1580973D IN)</a> is looking to raise about US$430m in its upcoming India IPO. The deal will be run by Kotak, Ambit, Citi and JM Fin.</li>
<li>Continuum Green Energy Limited is an independent power producer with over 14 years of experience in identifying, developing, constructing and operating renewable energy projects in India.</li>
<li>It acquired its first 16.50 MW wind project in 2010 and has grown its portfolio to a total operational and under-construction capacity of 3.52 GWp, as of Dec 9, 2024.</li>
</ul>



Continuum Green Energy Ltd (1580973D IN) is looking to raise about US$430m in its upcoming India IPO. The deal will be run by Kotak, Ambit, Citi and JM Fin.
Continuum Green Energy Limited is an independent power producer with over 14 years of experience in identifying, developing, constructing and operating renewable energy projects in India.
It acquired its first 16.50 MW wind project in 2010 and has grown its portfolio to a total operational and under-construction capacity of 3.52 GWp, as of Dec 9, 2024.


Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

LG Electronics India / Equity Capital Markets

<ul>
<li>Our base case valuation of LG Electronics India is implied market cap of 1,256 billion INR or US$14.7 billion.</li>
<li>Several media accounts have mentioned that LGEI could be targeting a valuation of about US$13 billion to US$15 billion.</li>
<li>LGEI's valuation would need to be about US$13 billion or less in order for us to be Bullish on this IPO. </li>
</ul>


Our base case valuation of LG Electronics India is implied market cap of 1,256 billion INR or US$14.7 billion.
Several media accounts have mentioned that LGEI could be targeting a valuation of about US$13 billion to US$15 billion.
LGEI's valuation would need to be about US$13 billion or less in order for us to be Bullish on this IPO. 


LG Electronics India IPO Valuation Analysis

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ventive-hospitality-ltd" target="_blank" data-smartkarma-citation="entities:43933:1" rel="noopener">Ventive Hospitality Ltd (0807075D IN)</a> is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares is downsized from an earlier target of ~US$240m.</li>
<li>Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Ventive Hospitality Ltd (0807075D IN) is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares is downsized from an earlier target of ~US$240m.
Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.
In this note, we talk about the company’s historical performance.


Ventive Hospitality Pre-IPO - Leveraging Expanded Portfolio to Drive Growth

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IGI (India) Limited / Equity Capital Markets

<ul>
<li>International Gemmological Institute (India) raised around US$500m in its India IPO. </li>
<li>IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye.</li>
<li>We have looked at the company’s past performance and IPO valuations in our previous notes. In this note, we talk about the trading dynamics.</li>
</ul>


International Gemmological Institute (India) raised around US$500m in its India IPO. 
IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye.
We have looked at the company’s past performance and IPO valuations in our previous notes. In this note, we talk about the trading dynamics.


IGI (India) IPO Trading - Decent Anchor and Strong Overall Demand

India ECM
Coverage of Indian IPOs & Placements

Ventive Hospitality IPO - Quick Thoughts on Peer Comp and Valuation

Ventive Hospitality is looking to raise about US$188m in its India IPO. In this note, we will undertake a quick peer comparison and talk about the...

Akshat Shah

Continuum Green Energy Pre-IPO Tearsheet

Continuum Green Energy is looking to raise about US$430m in its upcoming India IPO. The deal will be run by Kotak, Ambit, Citi and JM Fin.

Akshat Shah

LG Electronics India IPO Valuation Analysis

Our base case valuation of LG Electronics India is implied market cap of US$14.7 billion. LGEI's valuation would need to be about US$13 billion or...

Douglas Kim

Ventive Hospitality Pre-IPO - Leveraging Expanded Portfolio to Drive Growth

Ventive Hospitality is looking to raise about US$188m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

IGI (India) IPO Trading - Decent Anchor and Strong Overall Demand

International Gemmological Institute (India) raised around US$500m in its India IPO. We have looked at the past performance in our earlier notes,...

Sumeet Singh