APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> is looking to raise US$760m from selling some stake in <a href="https://www.smartkarma.com/entities/hindustan-zinc-ltd" target="_blank" data-smartkarma-citation="entities:8688:1" rel="noopener">Hindustan Zinc (HZ IN)</a>.</li>
<li>Overall, while the deal would represent just 2.6% of the firm’s outstanding shares, the deal is a large one to digest at 41 days of the stock’s three month ADV.</li>
<li>In this note, we take an early look at the deal, and comment on the deal dynamics.</li>
</ul>



Vedanta Ltd (VEDL IN) is looking to raise US$760m from selling some stake in Hindustan Zinc (HZ IN).
Overall, while the deal would represent just 2.6% of the firm’s outstanding shares, the deal is a large one to digest at 41 days of the stock’s three month ADV.
In this note, we take an early look at the deal, and comment on the deal dynamics.


Hindustan Zinc OFS Early Look - Due for a Correction, Large Selling Pressure Looming

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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.

Equity Bottom-Up

<ul><li>Motilal Oswal's research report onHindustan Zinc In 2QFY25, revenue stood at INR83b (+22% YoY/+2% QoQ) against our estimate of INR78b.</li><li>The YoY growth was driven by better metal and silver volumes and zinc and silver prices, further supported by a strong dollar and marginally offset by lower lead prices.</li><li>EBITDA stood at INR41b (+31% YoY/+5% QoQ) against our estimate of INR39b.</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.

Motilal Oswal's research report onHindustan Zinc In 2QFY25, revenue stood at INR83b (+22% YoY/+2% QoQ) against our estimate of INR78b.The YoY growth was driven by better metal and silver volumes and zinc and silver prices, further supported by a strong dollar and marginally offset by lower lead prices.EBITDA stood at INR41b (+31% YoY/+5% QoQ) against our estimate of INR39b.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.

Hindustan Zinc - Performance in Line; Focus on Controlling CoP

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Yesterday after the close, <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> made an announcement of Intention to delist American Depositary Shares from the New York Stock Exchange and terminate its American Depositary Share Program.This has been a big mover. <section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/231/745/original/Screenshot+2021-09-25+at+11.33.54+PM.png?1632584056" class="editor-image img-responsive" data-smartkarma-image-id="231745"></figure></section>The elimination of the ADS sets up a group of Very Interesting Possibilities and it is worthwhile working through what those possibilities are, and what the timing could be.

Yesterday after the close, Vedanta Ltd (VEDL IN) made an announcement of Intention to delist American Depositary Shares from the New York Stock Exchange and terminate its American Depositary Share Program.This has been a big mover. The elimination of the ADS sets up a group of Very Interesting Possibilities and it is worthwhile working through what those possibilities are, and what the timing could be.

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPOs front, Indian deals flow seemed to be the only one continuing unbated despite the US elections overhang from the past week. </li>
<li>On the placements front, there weren't many large deals but we did look at upcoming lockup expiries.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPOs front, Indian deals flow seemed to be the only one continuing unbated despite the US elections overhang from the past week. 
On the placements front, there weren't many large deals but we did look at upcoming lockup expiries.


ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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>Hindalco to Invest INR 2,450 Crore in Gujarat Copper and E-Waste Projects</li>
<li>JK Cement Plans INR 30 Billion Capacity Expansion by FY26</li>
<li>Hindustan Zinc Unveils $2.5 Billion Expansion Plan to Double Output</li>
</ul>


Hindalco to Invest INR 2,450 Crore in Gujarat Copper and E-Waste Projects
JK Cement Plans INR 30 Billion Capacity Expansion by FY26
Hindustan Zinc Unveils $2.5 Billion Expansion Plan to Double Output


# 60 India Insight: Hindalco INR 2,450 Cr Investment, JK Cement & Hindustan Zinc Capacity Expansion

India

Hindustan Zinc Limited specializes in the exploration, mining and smelting of zinc, lead and other non-ferrous metals.  The Company's products include zinc ore, lead zinc concentrate, zinc metal, lead metal, cadmium metal, silver metal and sulfuric acid.

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Hindustan Zinc (HZ IN)

Hindustan Zinc OFS Early Look - Due for a Correction, Large Selling Pressure Looming

The GoI has launched an OFS to trim a portion of its stake in Hindustan Zinc to raise US$317m. The deal will represent 2.5% of the firm's total...

Clarence Chu

Hindustan Zinc - Performance in Line; Focus on Controlling CoP

Motilal Oswal's research report onHindustan Zinc In 2QFY25, revenue stood at INR83b (+22% YoY/+2% QoQ) against our estimate of INR78b.

Motilal Oswal

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

VEDL is going to eliminate its ADS. This is not benign. For anyone. Near-term or short-term. There are opportunities in the interim.

Travis Lundy

ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

# 60 India Insight: Hindalco INR 2,450 Cr Investment, JK Cement & Hindustan Zinc Capacity Expansion

Major Indian companies Hindalco, JK Cement, and Hindustan Zinc announce significant investments and expansion plans to boost production and...

Sudarshan Bhandari

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52-week Range

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Hindustan Zinc OFS Early Look - Due for a Correction, Large Selling Pressure Looming

The GoI has launched an OFS to trim a portion of its stake in Hindustan Zinc to raise US$317m. The deal will represent 2.5% of the firm's total...

Clarence Chu

Hindustan Zinc - Performance in Line; Focus on Controlling CoP

Motilal Oswal's research report onHindustan Zinc In 2QFY25, revenue stood at INR83b (+22% YoY/+2% QoQ) against our estimate of INR78b.

Motilal Oswal

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

VEDL is going to eliminate its ADS. This is not benign. For anyone. Near-term or short-term. There are opportunities in the interim.

Travis Lundy

ECM Weekly (11th Nov 2024)-SF Holdings, Swiggy, ACME, NivaBupa, Sagility, Eternal Beauty, Shuangdeng

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

# 60 India Insight: Hindalco INR 2,450 Cr Investment, JK Cement & Hindustan Zinc Capacity Expansion

​Major Indian companies Hindalco, JK Cement, and Hindustan Zinc announce significant investments and expansion plans to boost production and...

Sudarshan Bhandari

Major Indian companies Hindalco, JK Cement, and Hindustan Zinc announce significant investments and expansion plans to boost production and...