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

Healthium Medtech / Equity Capital Markets

Healthium Medtech (HM) is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).While the company started off by manufacturing surgical consumables, it has since then expanded into other segments, mostly via acquisitions. Now the company primarily sells products pertaining to surgical consumables, urology and arthroscopy. HM revenue has been growing steadily over the past few years, while its margins have been expanding, resulting in bottom-line growth comfortably outpacing sales growth. In addition, HM has undertaken three acquisitions in FY22 which will increase its earnings by 40-50%. Although, the company hasn’t been very forthcoming with data and it didn’t pay a whole lot for the companies that it recently acquired.We have covered the company background in our earlier note, <a href="https://www.smartkarma.com/insights/healthium-medtech-pre-ipo-tearsheet" target="_blank" rel="noopener">Healthium Medtech Pre-IPO Tearsheet.</a>

Healthium Medtech (HM) is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).While the company started off by manufacturing surgical consumables, it has since then expanded into other segments, mostly via acquisitions. Now the company primarily sells products pertaining to surgical consumables, urology and arthroscopy. HM revenue has been growing steadily over the past few years, while its margins have been expanding, resulting in bottom-line growth comfortably outpacing sales growth. In addition, HM has undertaken three acquisitions in FY22 which will increase its earnings by 40-50%. Although, the company hasn’t been very forthcoming with data and it didn’t pay a whole lot for the companies that it recently acquired.We have covered the company background in our earlier note, Healthium Medtech Pre-IPO Tearsheet.

Healthium Medtech Pre-IPO - Steady Earnings, Creating a Niche

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Global Health (Medanta) / Equity Capital Markets

<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 about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse, Jefferies and JM Financial. Global Health (Medanta) is a hospital network that operates under the Medanta brand. The firm currently has four hospitals in operation, located in Gurugram, Indore, Ranchi and Lucknow, a hospital under construction with an operational outpatient facility in Patna, and one last hospital in Noida planned for development. As of Mar 2021, the firm provides services in over 30 medical specialties and employs 1,100 doctors, with 2,176 installed beds in its operational hospitals.

Global Health (Medanta) (GH IN) is looking to raise about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse, Jefferies and JM Financial. Global Health (Medanta) is a hospital network that operates under the Medanta brand. The firm currently has four hospitals in operation, located in Gurugram, Indore, Ranchi and Lucknow, a hospital under construction with an operational outpatient facility in Patna, and one last hospital in Noida planned for development. As of Mar 2021, the firm provides services in over 30 medical specialties and employs 1,100 doctors, with 2,176 installed beds in its operational hospitals.

Wellness Forever / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/wellness-forever" target="_blank" data-smartkarma-citation="entities:34644:1" rel="noopener">Wellness Forever (1269329D IN)</a> is looking to raise US$164m in its upcoming India IPO. The deal will be run by DAM Capital, Equirus Capital, and IIFL Securities.Wellness Forever is a Mumbai-based pharmacy retail chain, with a leading position in Western India in terms of total revenues, according to Technopak. Since launching its first retail store in Thane in 2008, the firm has expanded to having over 236 stores in 23 cities across the Indian states of Maharashtra, Kamataka and Goa, where it had a total registered consumer base of 6.7m customers as of Jun 2021.

Wellness Forever (1269329D IN) is looking to raise US$164m in its upcoming India IPO. The deal will be run by DAM Capital, Equirus Capital, and IIFL Securities.Wellness Forever is a Mumbai-based pharmacy retail chain, with a leading position in Western India in terms of total revenues, according to Technopak. Since launching its first retail store in Thane in 2008, the firm has expanded to having over 236 stores in 23 cities across the Indian states of Maharashtra, Kamataka and Goa, where it had a total registered consumer base of 6.7m customers as of Jun 2021.

Puranik Builders Limited / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/puranik-builders-limited" target="_blank" data-smartkarma-citation="entities:34464:1" rel="noopener">Puranik Builders Limited (1607816D IN)</a> is looking to raise about US$150m in its upcoming India IPO. The deal will be run by Elara Capital and Yes Securities. This is a refiling after its previous two filings, in 2018 and 2019, lapsed. Puranik Builders is a residential real estate developer for the Mumbai Metropolitan Region (MMR) and Pune Metropolitan Region (PMR). According to Cushman &amp; Wakefield (C&amp;W), the firm is among the leading residential real estate developers in the growing Thane region of MMR, based on projects being marketed and corresponding units sold. As of Jul 2021, it had completed 35 projects amounting to 554,197 sqm of Developable Area across MMR and PMR.

Puranik Builders Limited (1607816D IN) is looking to raise about US$150m in its upcoming India IPO. The deal will be run by Elara Capital and Yes Securities. This is a refiling after its previous two filings, in 2018 and 2019, lapsed. Puranik Builders is a residential real estate developer for the Mumbai Metropolitan Region (MMR) and Pune Metropolitan Region (PMR). According to Cushman &amp; Wakefield (C&amp;W), the firm is among the leading residential real estate developers in the growing Thane region of MMR, based on projects being marketed and corresponding units sold. As of Jul 2021, it had completed 35 projects amounting to 554,197 sqm of Developable Area across MMR and PMR.  

Puranik Builders Pre-IPO Tearsheet (Refiled)

Heathium Medtech is looking to raise up to US$491m in its upcoming India IPO. The deal will be run by ICICI, CLSA, CS, and Nomura. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).

Heathium Medtech is looking to raise up to US$491m in its upcoming India IPO. The deal will be run by ICICI, CLSA, CS, and Nomura. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).

India

Healthium Medtech Private Limited manufactures and supplies health care solutions. The Company produces and distributes sutures, gloves, urology and ostomy products, surgical stapling, and arthroscopy solutions. Healthium Medtech serves customers in India.

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Healthium Medtech (8118634Z IN)

Healthium Medtech Pre-IPO - Steady Earnings, Creating a Niche

Healthium Medtech is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a medtech company that manufactures products...

Sumeet Singh

Global Health Pre-IPO Tearsheet

Global Health (Medanta) (GH IN) is looking to raise about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse,...

Clarence Chu

Wellness Forever Pre-IPO Tearsheet

Wellness Forever (1269329D IN) is looking to raise US$164m in its upcoming India IPO. The deal will be run by DAM Capital, Equirus Capital, and...

Clarence Chu

Puranik Builders Pre-IPO Tearsheet (Refiled)

Puranik Builders Limited (1607816D IN) is looking to raise about US$150m in its upcoming India IPO. The deal will be run by Elara Capital and Yes...

Clarence Chu

Healthium Medtech Pre-IPO Tearsheet

Heathium Medtech is looking to raise up to US$491m in its upcoming India IPO. The deal will be run by ICICI, CLSA, CS, and Nomura.

Clarence Chu

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