APAC IPOs & Placements, Aequitas Research

Akshat Shah

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

Rubicon Research Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rubicon-research-limited" target="_blank" data-smartkarma-citation="entities:43796:1" rel="noopener">Rubicon Research Limited (1453591D IN)</a> is looking to raise about US$130m in its India IPO.</li>
<li>It is a pharmaceutical formulations company with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Rubicon Research Limited (1453591D IN) is looking to raise about US$130m in its India IPO.
It is a pharmaceutical formulations company with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States.
In this note, we talk about the company’s historical performance.


Rubicon Research Pre-IPO - Robust Product Development Pipeline Driving Revenue Growth

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>The India Pharma &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25E</li><li>We project sales/EBITDA growth of 11%/15% YoY for our coverage universe</li><li>Our assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the US</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.

The India Pharma &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25EWe project sales/EBITDA growth of 11%/15% YoY for our coverage universeOur assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the USContent 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.

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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.

<ul><li>We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.5% YoY and 3.1% QoQ, along with EBITDA growth of 10.5% YoY and 3.8% QoQ.</li><li>Moreover, adjusted PAT is expected to grow by 14% YoY and 1% QoQ.</li><li>This growth will likely be driven by domestic formulations and niche launches in the US market. </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.

We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.5% YoY and 3.1% QoQ, along with EBITDA growth of 10.5% YoY and 3.8% QoQ.Moreover, adjusted PAT is expected to grow by 14% YoY and 1% QoQ.This growth will likely be driven by domestic formulations and niche launches in the US market. 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.

<ul><li>Market Breadth Narrowing; Emphasis On Style &amp; Sector Rotation</li><li>The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.</li><li>Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index over the same period. </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.

Market Breadth Narrowing; Emphasis On Style &amp; Sector RotationThe Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index over the same period. 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 Top Picks for the Month of October 2024

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

<ul>
<li>The U.S. House passed the Biosecure Act, mandating U.S. pharma firms to cut ties with specific Chinese biotechs by 2032.</li>
<li>This opens opportunities for Indian CDMOs, positioning them as viable alternatives due to geopolitical alignment and regulatory quality.</li>
<li>India’s CDMOs could see substantial growth, benefiting from increased global diversification efforts away from China.</li>
</ul>


The U.S. House passed the Biosecure Act, mandating U.S. pharma firms to cut ties with specific Chinese biotechs by 2032.
This opens opportunities for Indian CDMOs, positioning them as viable alternatives due to geopolitical alignment and regulatory quality.
India’s CDMOs could see substantial growth, benefiting from increased global diversification efforts away from China.


The US Biosecure Act: A Boon for Indian CDMO Players?

India

Aurobindo Pharma Limited manufactures and markets oral and sterile antibiotics, antibacterials, anti-ulcerants and other generic basic drugs. Products include semi-synthetic penicillin drugs like ampicillin and amoxycillinas well as antibiotics, which include cloxacillin and dicloxacillin. The Company also manufactures formulations like astemizole, domeperidone and omeprazole.

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Aurobindo Pharma (ARBP IN)

Rubicon Research Pre-IPO - Robust Product Development Pipeline Driving Revenue Growth

Rubicon Research Limited is looking to raise about US$130m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

The India Pharma & Healthcare sector is expected to maintain its growth momentum in Q2FY25E. We project sales/EBITDA growth of 11%/15% YoY for our...

HDFC Securities

Q2FY25 Earnings Preview - Pharma

We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.5% YoY and 3.1% QoQ, along...

Axis Direct

Axis Top Picks for the Month of October 2024

The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same...

Axis Direct

The US Biosecure Act: A Boon for Indian CDMO Players?

The Biosecure Act passed by the U.S. House could boost Indian CDMOs as alternative to Chinese biotechs by 2032, leading to potential growth...

Nimish Maheshwari

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52-week Range

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Rubicon Research Pre-IPO - Robust Product Development Pipeline Driving Revenue Growth

Rubicon Research Limited is looking to raise about US$130m in its India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

The India Pharma & Healthcare sector is expected to maintain its growth momentum in Q2FY25E. We project sales/EBITDA growth of 11%/15% YoY for our...

HDFC Securities

Q2FY25 Earnings Preview - Pharma

We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.5% YoY and 3.1% QoQ, along...

Axis Direct

Axis Top Picks for the Month of October 2024

The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same...

Axis Direct

The US Biosecure Act: A Boon for Indian CDMO Players?

​The Biosecure Act passed by the U.S. House could boost Indian CDMOs as alternative to Chinese biotechs by 2032, leading to potential growth...

Nimish Maheshwari

The Biosecure Act passed by the U.S. House could boost Indian CDMOs as alternative to Chinese biotechs by 2032, leading to potential growth...