APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. </li>
<li>The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. 
The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.
The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas India IPOs Bookrunner Performance (2019-2022)

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Axis Bank: Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment recognition in the corporate book, which called for higher credit costs (81bps annualised)</li><li>The bank witnessed higher net slippages (100bps), especially from the retail portfolio (+40bps QoQ)</li><li>AXSB delivered further improvement in NIMs (+30bps QoQ), albeit on the back of continued sub-par retail deposit growth; however, we argue that the current loan-to-deposit ratio (9MFY23: 90%) appears untenable</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank: Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment recognition in the corporate book, which called for higher credit costs (81bps annualised)The bank witnessed higher net slippages (100bps), especially from the retail portfolio (+40bps QoQ)AXSB delivered further improvement in NIMs (+30bps QoQ), albeit on the back of continued sub-par retail deposit growth; however, we argue that the current loan-to-deposit ratio (9MFY23: 90%) appears untenableContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Axis Bank, UltraTech Cement, Tanla Platforms, Karur Vysya Bank

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a>  is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Mankind Pharma  is looking to raise about US$1bn in its upcoming India IPO.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
In this note, we talk about the positive aspects of the deal.


Mankind Pharma Pre-IPO - The Positives - Diverse Portfolio with Steady past Performance

HSIE Results Daily: Axis Bank, UltraTech Cement

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and improving its PCR.</li><li>As a result, its key metrics such as loan growth, margins and profitability have improved.</li><li>Loan growth is witnessing a healthy recovery with 14-18% growth over the past four quarters (vs 13% CAGR over FY19-22), driven by retail loans (18% CAGR).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and improving its PCR.As a result, its key metrics such as loan growth, margins and profitability have improved.Loan growth is witnessing a healthy recovery with 14-18% growth over the past four quarters (vs 13% CAGR over FY19-22), driven by retail loans (18% CAGR).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Bank - Growth Outlook Gaining Traction

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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Axis Bank Ltd (AXSB IN)

Aequitas India IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. This includes all Indian IPOs above US$100m for 2019...

Ethan Aw

HSIE Results Daily: Axis Bank, UltraTech Cement, Tanla Platforms, Karur Vysya Bank

Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment...

HDFC Securities

Mankind Pharma Pre-IPO - The Positives - Diverse Portfolio with Steady past Performance

Mankind Pharma is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

HSIE Results Daily: Axis Bank, UltraTech Cement

Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment...

HDFC Securities

Axis Bank - Growth Outlook Gaining Traction

AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and...

Motilal Oswal

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