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

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>Silver hits 11-year high amidst supply-demand dynamics and geo-political uncertainty.</li>
<li>Rising industrial demand, particularly in green tech, and tightening supply forecast a sustained rally.</li>
<li>Global deficit remains substantial, forecasted to continue, while mine production declines.</li>
</ul>


Silver hits 11-year high amidst supply-demand dynamics and geo-political uncertainty.
Rising industrial demand, particularly in green tech, and tightening supply forecast a sustained rally.
Global deficit remains substantial, forecasted to continue, while mine production declines.


Silver's Record-Breaking Rally: Insights and Analysis

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Forensic Accounting

<ul>
<li>The investigative analysis highlights a deceptive and confusing saga involving the Vedanta Group's semiconductor venture in India. </li>
<li>The group skillfully blurred the lines between <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a>  and <a href="https://www.smartkarma.com/entities/vedanta-resources-ltd" target="_blank" data-smartkarma-citation="entities:22202:1" rel="noopener">Vedanta Resources (VED LN)</a>, creating an impression that the semiconductor business was under Vedanta Limited, despite previous clarifications. </li>
<li>Eventually, regulatory authorities penalized Vedanta for disclosure lapses, exposing governance concerns and a lack of transparency in this complex corporate maneuver.</li>
</ul>


The investigative analysis highlights a deceptive and confusing saga involving the Vedanta Group's semiconductor venture in India. 
The group skillfully blurred the lines between Vedanta Ltd (VEDL IN)  and Vedanta Resources (VED LN), creating an impression that the semiconductor business was under Vedanta Limited, despite previous clarifications. 
Eventually, regulatory authorities penalized Vedanta for disclosure lapses, exposing governance concerns and a lack of transparency in this complex corporate maneuver.


Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

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

Hindustan Aeronautics  / Equity Capital Markets

<ul>
<li>The Government of India (GoI) aims to raise around US$372m (INR30.7bn) via an offer for sale of <a href="https://www.smartkarma.com/entities/hindustan-aeronautics-ltd" target="_blank" data-smartkarma-citation="entities:26747:1" rel="noopener">Hindustan Aeronautics Ltd (HNAL IN)</a> stock. </li>
<li>The floor price of INR2,450 / share is set at approximately 6.7% to Wednesday’s (22nd Mar 2023) last close. The deal represents 10.5 days of ADV. </li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


The Government of India (GoI) aims to raise around US$372m (INR30.7bn) via an offer for sale of Hindustan Aeronautics Ltd (HNAL IN) stock. 
The floor price of INR2,450 / share is set at approximately 6.7% to Wednesday’s (22nd Mar 2023) last close. The deal represents 10.5 days of ADV. 
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Hindustan Aeronautics Placement - Still Running Hot on Defence Spending Focus

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>The Government of India (GoI) aims to raise around US$500m via selling a 1.4% stake in <a href="https://www.smartkarma.com/entities/axis-bank-ltd" target="_blank" data-smartkarma-citation="entities:768:1" rel="noopener">Axis Bank Ltd (AXSB IN)</a>. </li>
<li>This won’t be the first selldown by GoI as it has been reducing its stake since 2019. We have covered a number of the past deals in the name.</li>
<li>In this note, we will run the deal through our ECM framework and comment on other deal dynamics.</li>
</ul>


The Government of India (GoI) aims to raise around US$500m via selling a 1.4% stake in Axis Bank Ltd (AXSB IN). 
This won’t be the first selldown by GoI as it has been reducing its stake since 2019. We have covered a number of the past deals in the name.
In this note, we will run the deal through our ECM framework and comment on other deal dynamics.


Axis Bank Placement - Second Deal for the Month but This Is Very Well Flagged

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)

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

Silver's Record-Breaking Rally: Insights and Analysis

Silver, soaring to an 11-year high, rides a wave of global demand fueled by supply deficits, geopolitical tensions, and surging industrial usage.

Sudarshan Bhandari

Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...

Nimish Maheshwari

Hindustan Aeronautics Placement - Still Running Hot on Defence Spending Focus

The Government of India (GoI) aims to raise around US$372m (INR30.7bn) via an offer for sale of Hindustan Aeronautics Ltd (HNAL IN) stock.

Ethan Aw

Axis Bank Placement - Second Deal for the Month but This Is Very Well Flagged

The Government of India (GoI) aims to raise around US$500m via selling a 1.4% stake in Axis Bank Ltd (AXSB IN). This isn't the first selldown by...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Silver's Record-Breaking Rally: Insights and Analysis

Silver, soaring to an 11-year high, rides a wave of global demand fueled by supply deficits, geopolitical tensions, and surging industrial usage.

Sudarshan Bhandari

Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

​Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...

Nimish Maheshwari

Hindustan Aeronautics Placement - Still Running Hot on Defence Spending Focus

The Government of India (GoI) aims to raise around US$372m (INR30.7bn) via an offer for sale of Hindustan Aeronautics Ltd (HNAL IN) stock.

Ethan Aw

Axis Bank Placement - Second Deal for the Month but This Is Very Well Flagged

The Government of India (GoI) aims to raise around US$500m via selling a 1.4% stake in Axis Bank Ltd (AXSB IN). This isn't the first selldown by...

Sumeet Singh

Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...