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

Sunshine Insurance Group  Lt / Equity Capital Markets

<ul>
<li>Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.</li>
<li>SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>


Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.
SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.
In this note, we talk about the not-so-positive aspects of the deal.


Sunshine Insurance Group Pre-IPO - The Negatives - Lacks Growth

<ul>
<li>Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.</li>
<li>SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, aims to raise up to US$1bn in its HK IPO.
SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.
In this note, we talk about the positive aspects of the deal.


Sunshine Insurance Group Pre-IPO - The Positives - Steady Headline Growth

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

Fusion Micro Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fusion-micro-finance-ltd" target="_blank" data-smartkarma-citation="entities:36450:1" rel="noopener">Fusion Micro Finance Ltd (1053199D IN)</a> is looking to raise about US$250m in its upcoming India IPO. </li>
<li>Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal. </li>
</ul>



Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. 
Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.
In this note, we talk about the not-so-positive aspects of the deal. 


Fusion Micro Finance Pre-IPO - The Negatives - Much Less Inspiring as a Business

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fusion-micro-finance-ltd" target="_blank" data-smartkarma-citation="entities:36450:1" rel="noopener">Fusion Micro Finance Ltd (1053199D IN) </a>is looking to raise about US$250m in its upcoming India IPO. </li>
<li>Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.</li>
<li>In this note, we talk about the positive aspects of the deal. </li>
</ul>



Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. 
Fusion Micro Finance (FMF) is a non-banking financial company - microfinance institution (NBFC-MFI) that provides financial services to unserved and underserved women in rural and peri-rural areas across India.
In this note, we talk about the positive aspects of the deal. 


Fusion Micro Finance Pre-IPO - The Positives - Inspiring as a Social Cause

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>AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)</li><li>Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUM</li><li>Interest rate hikes are likely to keep treasury gains under check</li></ul><p><em>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.</em></p>

AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUMInterest rate hikes are likely to keep treasury gains under checkContent 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.

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

India

HDFC Standard Life Insurance Company Limited is a life insurance firm. The Company offers protection, pension, savings and investment, and children's and women's plans to individuals. HDFC Standard Life Insurance serves customers in India and United Arab Emirates.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

HDFC Life Insurance (HDFCLIFE IN)

Sunshine Insurance Group Pre-IPO - The Negatives - Lacks Growth

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we talk about the...

Sumeet Singh

Sunshine Insurance Group Pre-IPO - The Positives - Steady Headline Growth

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we talk about the...

Sumeet Singh

Fusion Micro Finance Pre-IPO - The Negatives - Much Less Inspiring as a Business

Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. In this note, we talk about the not-so-positive...

Ethan Aw

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sunshine Insurance Group Pre-IPO - The Negatives - Lacks Growth

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we talk about the...

Sumeet Singh

Sunshine Insurance Group Pre-IPO - The Positives - Steady Headline Growth

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, aims to raise up to US$1bn in its HK IPO. In this note, we talk about the...

Sumeet Singh

Fusion Micro Finance Pre-IPO - The Negatives - Much Less Inspiring as a Business

Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. In this note, we talk about the not-so-positive...

Ethan Aw

Fusion Micro Finance Pre-IPO - The Positives - Inspiring as a Social Cause

Fusion Micro Finance Ltd (1053199D IN) is looking to raise about US$250m in its upcoming India IPO. In this note, we talk about the positive...

Ethan Aw

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2...

HDFC Securities