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.

Event-Driven

<ul>
<li>PropertyGuru and Bridgetown 2 announced, on 23rd Jul 2021, that they have entered into a business combination agreement which will see PropertyGuru go public in the US. </li>
<li>Both the companies will hold their respective EGMs next week and aim to complete the listing by 18th Mar 2022.</li>
<li>We have looked at the company’s prior listing attempt, in Australia in 2019, and the current SPAC merger. In this note, we will talk about the recent updates.</li>
</ul>


PropertyGuru and Bridgetown 2 announced, on 23rd Jul 2021, that they have entered into a business combination agreement which will see PropertyGuru go public in the US. 
Both the companies will hold their respective EGMs next week and aim to complete the listing by 18th Mar 2022.
We have looked at the company’s prior listing attempt, in Australia in 2019, and the current SPAC merger. In this note, we will talk about the recent updates.


PropertyGuru/Bridgetown 2 SPAC Listing/Merger - Peers Are Down a Lot, as the Deal Nears Completion

Equity Capital Markets

<ul>
<li>Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.</li>
<li>Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. </li>
<li>In this note, we talk about the not so positive aspects of the deal.</li>
</ul>


Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.
Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. 
In this note, we talk about the not so positive aspects of the deal.


Fabindia Pre-IPO - The Negatives - Past Financial Performance Trends Remain Unclear

<ul>
<li>Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.</li>
<li>Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.
Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. 
In this note, we will talk about the positive aspects of the deal.


Fabindia Pre-IPO - The Positives - Strong Urban Brand

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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>India's stock market dropped $386 billion after election results showed a narrower-than-expected lead for Modi</li>
<li>Intel's CEO introduced new AI products at Computex, challenging Nvidia's market dominance</li>
<li>Chinese companies rush to raise funds amid a stock market rebound, driven by investor optimism and future uncertainty</li>
</ul>


India's stock market dropped $386 billion after election results showed a narrower-than-expected lead for Modi
Intel's CEO introduced new AI products at Computex, challenging Nvidia's market dominance
Chinese companies rush to raise funds amid a stock market rebound, driven by investor optimism and future uncertainty


#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

China and US Equity Analyst

Roger Xie

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/weibo-corp-adr" target="_blank" data-smartkarma-citation="entities:3826:1" rel="noopener">Weibo Corp (WB US)</a> reported a set of solid results for 4Q21; ad revenue (excluding Alibaba) has post robust 28% year-over-year growth and MAU remains healthy.</li>
<li>Weibo is leveraging its competences to increase user engagement. Weibo video account has amassed 25mn users; Weibo Live's DAU has grown 100% year-over-year.</li>
<li>Weibo current valuation 10x forward P/E looks attractive; we expect 1Q22 user engagement will improve given that topics on Winter Olympics has already exceeded Toyko Olympics.</li>
</ul>



Weibo Corp (WB US) reported a set of solid results for 4Q21; ad revenue (excluding Alibaba) has post robust 28% year-over-year growth and MAU remains healthy.
Weibo is leveraging its competences to increase user engagement. Weibo video account has amassed 25mn users; Weibo Live's DAU has grown 100% year-over-year.
Weibo current valuation 10x forward P/E looks attractive; we expect 1Q22 user engagement will improve given that topics on Winter Olympics has already exceeded Toyko Olympics.


Weibo (WB US): Solid 4Q21 Results; Winter Olympics to Bolster User Engagement

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (9988 HK)

PropertyGuru/Bridgetown 2 SPAC Listing/Merger - Peers Are Down a Lot, as the Deal Nears Completion

PropertyGuru and Bridgetown 2 announced, on 23rd Jul 2021, that they have entered into a business combination agreement which will see PropertyGuru...

Sumeet Singh

Fabindia Pre-IPO - The Negatives - Past Financial Performance Trends Remain Unclear

Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is...

Sumeet Singh

Fabindia Pre-IPO - The Positives - Strong Urban Brand

Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is...

Sumeet Singh

#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...

Nimish Maheshwari

Weibo (WB US): Solid 4Q21 Results; Winter Olympics to Bolster User Engagement

Weibo Corp (WB US) reported a set of solid results for 4Q21; we expect 1Q22 user engagement will improve given that topics on Beijing Winter...

Roger Xie

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

PropertyGuru/Bridgetown 2 SPAC Listing/Merger - Peers Are Down a Lot, as the Deal Nears Completion

PropertyGuru and Bridgetown 2 announced, on 23rd Jul 2021, that they have entered into a business combination agreement which will see PropertyGuru...

Sumeet Singh

Fabindia Pre-IPO - The Negatives - Past Financial Performance Trends Remain Unclear

Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is...

Sumeet Singh

Fabindia Pre-IPO - The Positives - Strong Urban Brand

Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is...

Sumeet Singh

#11Business Buzz: India's Stock Market Plunge, Intel Vs. Nvidia, and China's Fundraising Frenzy

​India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...

Nimish Maheshwari

Weibo (WB US): Solid 4Q21 Results; Winter Olympics to Bolster User Engagement

Weibo Corp (WB US) reported a set of solid results for 4Q21; we expect 1Q22 user engagement will improve given that topics on Beijing Winter...

Roger Xie

India's stock market falls as Modi's lead narrows, Intel challenges Nvidia with new AI products, Chinese companies raise funds amidst market...