Thermax (TMX IN): Strong Order Book Entails Visibility Amid Margin Pressure
In Q2FY23, Thermax reported 41% revenue growth, while the company’s order book jumped 46%. However, inflationary pressures are expected to impact...
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Bikaji Foods International IPO Trading - One of the Strongest Demand This Year
Bikaji Foods (BIKAJI IN) , an ethnic snacks company, raised approximately US$107m in its India IPO. In this note, we look at the demand and trading...
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Sapphire Foods IPO - Smallish Stock with Big (US$550m) Multiple PE Lockup Expiry
In Nov 2021, Sapphire Foods Limited, one of Yum Brand’s franchisees in the Indian subcontinent, raised around US$280m in its Indian IPO. In this...
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ECM Weekly (13th Nov 2022) - I-Tail, Blibli, Nykaa, PB Fin, Five Star, Archean, GDRs, Axis Bank
Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
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Axis Bank Placement - Second Deal for the Month but This Is Very Well Flagged
The Government of India (GoI) aims to raise around US$500m via selling a 1.4% stake in Axis Bank Ltd (AXSB IN). This isn't the first selldown by...
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