Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> is planning to raise around US$1.25bn through its upcoming India IPO.</li>
<li>Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Swiggy is planning to raise around US$1.25bn through its upcoming India IPO.
Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
In this note, we talk about the not-so-positive aspects of the deal.


Swiggy Pre-IPO - The Negtives - Neither Food nor Quick Commerce Was the Largest Revenue Driver

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Adani Green and Adani Power secure 6.6 GW power supply deal, bolstering renewable and thermal capacity.</li>
<li>Tata Electronics plans two more semiconductor fabs in Gujarat, enhancing India’s chip manufacturing capabilities.</li>
<li>Reliance expands non-food retail space by 50%, focusing on boosting profitability and premium segments.</li>
</ul>


Adani Green and Adani Power secure 6.6 GW power supply deal, bolstering renewable and thermal capacity.
Tata Electronics plans two more semiconductor fabs in Gujarat, enhancing India’s chip manufacturing capabilities.
Reliance expands non-food retail space by 50%, focusing on boosting profitability and premium segments.


# 59 India Insight: Adani Green 6.6 GW RE, Tata Electronics Semiconductor, Reliance Expansion

Bajaj Housing Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> raised around US$800m in its India IPO.</li>
<li>BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.</li>
<li>In our previous notes, we looked at the company’s past performance and valuation. In this note, we will talk about the trading dynamics.</li>
</ul>



Bajaj Housing Finance (BHF IN) raised around US$800m in its India IPO.
BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
In our previous notes, we looked at the company’s past performance and valuation. In this note, we will talk about the trading dynamics.


Bajaj Housing Finance IPO - Valuation Might Get Stretched from Demand Overflow

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> is looking to raise around US$800m in its India IPO.</li>
<li>BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.</li>
</ul>



Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO.
BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.


Bajaj Housing Finance IPO - Will Trade at a Premium

<ul>
<li>Samvardhana Motherson Plans $1 Billion QIP for Debt Reduction or Acquisition.</li>
<li>Tata Consumer Ltd. Products Merges Three Subsidiaries to Streamline Operations </li>
<li>Adani Power to Invest INR 18,000 Crore to Triple Kawai Plant Capacity</li>
</ul>


Samvardhana Motherson Plans $1 Billion QIP for Debt Reduction or Acquisition.
Tata Consumer Ltd. Products Merges Three Subsidiaries to Streamline Operations 
Adani Power to Invest INR 18,000 Crore to Triple Kawai Plant Capacity


# 55 India Insight: Motherson Plans QIP, Tata Consumer Merger, Adani Power Invest INR 18,000 Crore

India

Adani Power Ltd is a power project development company. The Company develops, operates and maintains power projects in India.

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Adani Power (ADANI IN)

Swiggy Pre-IPO - The Negtives - Neither Food nor Quick Commerce Was the Largest Revenue Driver

Swiggy is planning to raise around US$1.25bn through its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

# 59 India Insight: Adani Green 6.6 GW RE, Tata Electronics Semiconductor, Reliance Expansion

Adani and Tata boost renewable energy and semiconductor manufacturing, while Reliance focuses on expanding non-food retail space for profitability.

Sudarshan Bhandari

Bajaj Housing Finance IPO - Valuation Might Get Stretched from Demand Overflow

Bajaj Housing Finance (BHF IN) raised around US$800m in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

Bajaj Housing Finance IPO - Will Trade at a Premium

Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO. In this note, we talk about the IPO valuation.

Sumeet Singh

# 55 India Insight: Motherson Plans QIP, Tata Consumer Merger, Adani Power Invest INR 18,000 Crore

Major Indian companies like Samvardhana Motherson, Tata Consumer Ltd., and Adani Power are making strategic moves to reduce debt, streamline...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Swiggy Pre-IPO - The Negtives - Neither Food nor Quick Commerce Was the Largest Revenue Driver

Swiggy is planning to raise around US$1.25bn through its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

# 59 India Insight: Adani Green 6.6 GW RE, Tata Electronics Semiconductor, Reliance Expansion

​Adani and Tata boost renewable energy and semiconductor manufacturing, while Reliance focuses on expanding non-food retail space for profitability.

Sudarshan Bhandari

Bajaj Housing Finance IPO - Valuation Might Get Stretched from Demand Overflow

Bajaj Housing Finance (BHF IN) raised around US$800m in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

Bajaj Housing Finance IPO - Will Trade at a Premium

Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO. In this note, we talk about the IPO valuation.

Sumeet Singh

# 55 India Insight: Motherson Plans QIP, Tata Consumer Merger, Adani Power Invest INR 18,000 Crore

​Major Indian companies like Samvardhana Motherson, Tata Consumer Ltd., and Adani Power are making strategic moves to reduce debt, streamline...

Sudarshan Bhandari

Adani and Tata boost renewable energy and semiconductor manufacturing, while Reliance focuses on expanding non-food retail space for profitability.

Major Indian companies like Samvardhana Motherson, Tata Consumer Ltd., and Adani Power are making strategic moves to reduce debt, streamline...