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

Global Health (Medanta) / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (GH IN)</a> raised approximately US$268m in its India IPO.  </li>
<li>Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development. </li>
<li>We have looked at various aspects of the deal in our previous notes. In this note, we talk about the demand for the deal and the trading dynamics.</li>
</ul>



Global Health (Medanta) (GH IN) raised approximately US$268m in its India IPO.  
Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development. 
We have looked at various aspects of the deal in our previous notes. In this note, we talk about the demand for the deal and the trading dynamics.


Global Health IPO Trading - Relatively Cheap and Good

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (GH IN)</a> is looking to raise approximately US$268m in its upcoming India IPO.  </li>
<li>Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.</li>
<li>We have looked at the background of the deal in our earlier notes. In this note, we will talk about the peer comparison and valuations.</li>
</ul>



Global Health (Medanta) (GH IN) is looking to raise approximately US$268m in its upcoming India IPO.  
Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.
We have looked at the background of the deal in our earlier notes. In this note, we will talk about the peer comparison and valuations.


Global Health IPO - Small Player but Attractive

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, Blibli managed to upsize its IPO, while a few companies will launch their Indian IPOs in the coming week.</li>
<li>There were no notable placements this week, which wasn't surprising after Monday's market turmoil.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, Blibli managed to upsize its IPO, while a few companies will launch their Indian IPOs in the coming week.
There were no notable placements this week, which wasn't surprising after Monday's market turmoil.


ECM Weekly (30th Oct 2022) - Giant Biogene, Sunshine, I-Tail, Global Health, Lygend, Fusion, Blibli

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Rainbow Children's Medicare / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rainbow-children-s-medicare-limited" target="_blank" data-smartkarma-citation="entities:35874:1" rel="noopener">Rainbow Children's Hospital (RAINBOW IN)</a> is India’s largest pediatric multi-specialty healthcare chain, operating 15 hospitals and 3 clinics in 6 cities, with a total bed capacity of 1,550+.</li>
<li>Due to its presence in the affluent cities of India, the company has superior ARPOB. With the normalization of business occupancy and outpatient volume improved significantly.   </li>
<li>The company plans to add 100 beds by the end of FY23. Higher occupancy and greater scale of operation are the biggest margin driver for the company.</li>
</ul>



Rainbow Children's Hospital (RAINBOW IN) is India’s largest pediatric multi-specialty healthcare chain, operating 15 hospitals and 3 clinics in 6 cities, with a total bed capacity of 1,550+.
Due to its presence in the affluent cities of India, the company has superior ARPOB. With the normalization of business occupancy and outpatient volume improved significantly.   
The company plans to add 100 beds by the end of FY23. Higher occupancy and greater scale of operation are the biggest margin driver for the company.


Rainbow Children's Hospital (RAINBOW IN): Flying High Backed by Niche Focus and Business Recovery

Thematic (Sector/Industry)

<ul>
<li>The Japanese yen has been depreciating at a rate never seen before. Amid weakening domestic currency, Japan’s healthcare stocks have mostly outperformed their regional peers, due to their export-led growth.</li>
<li>Cash rich and fundamentally strong healthcare companies in Japan, with large international revenue exposure should be the key focus areas now.</li>
<li>Two of our top picks are sitting on double-digit gains, while the other two are facing temporary setbacks. Long-term fundamental story remains intact for all of them.   </li>
</ul>


The Japanese yen has been depreciating at a rate never seen before. Amid weakening domestic currency, Japan’s healthcare stocks have mostly outperformed their regional peers, due to their export-led growth.
Cash rich and fundamentally strong healthcare companies in Japan, with large international revenue exposure should be the key focus areas now.
Two of our top picks are sitting on double-digit gains, while the other two are facing temporary setbacks. Long-term fundamental story remains intact for all of them.   


APAC Healthcare Series (Part 3)- Focus Is on Japan; Top Picks Are Mostly in The Pink of Health

India

Apollo Hospitals Enterprise Limited owns and operates hospitals in India.  The Company also runs a 24-hour pharmacy network via over 120 outlets across India. Apollo Hospitals also runs clinics and offer managed care and family health plans. The Company has a variety of locations in Chennai, Hyderabad, Delhi, Dubai, Vizag, Bilaspur and Chengannur.

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Apollo Hospitals Enterprise (APHS IN)

Global Health IPO Trading - Relatively Cheap and Good

Global Health (Medanta) (GH IN) raised approximately US$268m in its India IPO. In this note, we talk about the demand for the deal and the trading...

Ethan Aw

Global Health IPO - Small Player but Attractive

Global Health (Medanta) (GH IN) is looking to raise approximately US$268m in its upcoming India IPO. In this note, we will talk about the peer...

Ethan Aw

ECM Weekly (30th Oct 2022) - Giant Biogene, Sunshine, I-Tail, Global Health, Lygend, Fusion, Blibli

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Rainbow Children's Hospital (RAINBOW IN): Flying High Backed by Niche Focus and Business Recovery

RCML started FY23 on a healthy note with improved case mix and robust operating metrics. Business recovery leading to higher occupancy and greater...

Tina Banerjee

APAC Healthcare Series (Part 3)- Focus Is on Japan; Top Picks Are Mostly in The Pink of Health

Two of our top picks in APAC healthcare sector are sitting on double-digit gains, while the other two are facing temporary setbacks. Long-term...

Tina Banerjee

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