External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<ul><li>Healthy AUM growth: The NBFCs under our coverage reported healthy AUM growth led by strong demand across segments.</li><li>Owing to seasonal weakness, disbursements for most financiers (ex-Vehicle financiers) moderated on a QoQ basis.</li><li>Management commentary on growth momentum sustaining is reassuring.</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>

Healthy AUM growth: The NBFCs under our coverage reported healthy AUM growth led by strong demand across segments.Owing to seasonal weakness, disbursements for most financiers (ex-Vehicle financiers) moderated on a QoQ basis.Management commentary on growth momentum sustaining is reassuring.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.

Top Sector Ideas - Banking, Financial Services and Insurance (BFSI)

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

India Shelter Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/india-shelter-finance" target="_blank" data-smartkarma-citation="entities:40025:1" rel="noopener">India Shelter Finance (0570670D IN)</a> is looking to raise up to US$217m in its upcoming India IPO. The deal will be run by Ambit, Citigroup, ICICI Securities and Kotak Mahindra.</li>
<li>India Shelter Finance (ISF) is a retail focused affordable housing finance company. Between FY21-23, the firm registered a two-year CAGR growth of 40.8% in terms of AUM, according to CRISIL. </li>
<li>Its target segment comprises self-employed customers, focusing on first time home loan takers in the low and middle income group in Tier II and Tier III cities in India. </li>
</ul>



India Shelter Finance (0570670D IN) is looking to raise up to US$217m in its upcoming India IPO. The deal will be run by Ambit, Citigroup, ICICI Securities and Kotak Mahindra.
India Shelter Finance (ISF) is a retail focused affordable housing finance company. Between FY21-23, the firm registered a two-year CAGR growth of 40.8% in terms of AUM, according to CRISIL. 
Its target segment comprises self-employed customers, focusing on first time home loan takers in the low and middle income group in Tier II and Tier III cities in India. 


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. </li>
<li>It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>


National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. 
It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.
In this note, we talk about the not-so-positive aspects of the deal.


NSDL Pre-IPO - The Negatives - Margins Could Drag

<ul>
<li>National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. </li>
<li>It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. 
It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.
In this note, we talk about the positive aspects of the deal.


NSDL Pre-IPO - The Positives - Dominant Position, Strong Revenue Growth

SBFC Finance Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sbfc-finance-limited" target="_blank" data-smartkarma-citation="entities:36713:1" rel="noopener">SBFC Finance Limited (1547353D IN)</a> raised around US$131m in its India IPO, after the deal was priced at INR57/share, the top end of its IPO price range.</li>
<li>SBFC Finance is a systematically important, non-deposit taking non-banking finance company (NBFC-ND-SI), offering secured MSME Loans and Loans against Gold. </li>
<li>In this note, we will talk about the demand for the deal and other trading dynamics.</li>
</ul>



SBFC Finance Limited (1547353D IN) raised around US$131m in its India IPO, after the deal was priced at INR57/share, the top end of its IPO price range.
SBFC Finance is a systematically important, non-deposit taking non-banking finance company (NBFC-ND-SI), offering secured MSME Loans and Loans against Gold. 
In this note, we will talk about the demand for the deal and other trading dynamics.


SBFC Finance IPO Trading - Strong Demand but Priced at Fair Value

India

ICICI Bank Limited operates as a bank. The Bank offers saving accounts, loans, debit, credit cards, insurance, investments, mortgages, and online banking services. ICICI Bank serves customers worldwide.

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ICICI Bank Ltd (ICICIBC IN)

Top Sector Ideas - Banking, Financial Services and Insurance (BFSI)

The NBFCs under our coverage reported healthy AUM growth led by strong demand across segments .Owing to seasonal weakness, disbursements for most...

Axis Direct

India Shelter Finance Pre-IPO Tearsheet

India Shelter Finance (0570670D IN) is looking to raise up to US$217m in its upcoming India IPO. The deal will be run by Ambit, Citigroup, ICICI...

Ethan Aw

NSDL Pre-IPO - The Negatives - Margins Could Drag

National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. In this note we talk about the not-so-positives...

Sumeet Singh

NSDL Pre-IPO - The Positives - Dominant Position, Strong Revenue Growth

National Securities Depository Limited (NSDL) is looking to raise around US$400m in its India IPO. In this note, we talk about the positive aspects...

Sumeet Singh

SBFC Finance IPO Trading - Strong Demand but Priced at Fair Value

SBFC Finance Limited (1547353D IN) raised around US$131m in its India IPO. In this note, we will talk about the demand for the deal and other...

Ethan Aw

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52-week Range

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