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

<ul>
<li>Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to Walmart in 2018.</li>
<li>NT is a technology-driven financial products and services company. The company was only incorporated in 2018, it offers personal loans, home loans, general insurance and mutual funds. </li>
<li>In this note, we will talk about the not so positive aspects of the deal.</li>
</ul>


Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to Walmart in 2018.
NT is a technology-driven financial products and services company. The company was only incorporated in 2018, it offers personal loans, home loans, general insurance and mutual funds. 
In this note, we will talk about the not so positive aspects of the deal.


Navi Technologies Pre-IPO - The Negatives - Still Very Much a Work-In-Progress

<ul>
<li>Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to Walmart in 2018.</li>
<li>NT is a technology-driven financial products and services company. The company was only incorporated in 2018, it offers personal loans, home loans, general insurance and mutual funds. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to Walmart in 2018.
NT is a technology-driven financial products and services company. The company was only incorporated in 2018, it offers personal loans, home loans, general insurance and mutual funds. 
In this note, we will talk about the positive aspects of the deal.


Navi Technologies Pre-IPO - The Positives - Sold the First for US$20bn, Now Building One Without VCs

<ul>
<li>Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.</li>
<li>Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. </li>
<li>In this note, we talk about the not so positive aspects of the deal.</li>
</ul>


Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is looking to raise around US$500m in its India IPO.
Fabindia offers a diverse portfolio of lifestyle products to its customers across Apparel and Accessories, Home and Lifestyle, Personal Care and Organic Food categories. 
In this note, we talk about the not so positive aspects of the deal.


Fabindia Pre-IPO - The Negatives - Past Financial Performance Trends Remain Unclear

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.

Equity Bottom-Up

<ul><li>Infosys is India’s second largest IT services exporter and has strong global presence. </li><li>It provides industry wide solutions including next gen services like Cloud computing, digital transformations, IoT, Machine learning etc</li><li>We recommend a Buy the stock for a target price of Rs 1895 implying an upside of 10% from CMP.</li></ul><div class="content-highlight"><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></div>

Infosys is India’s second largest IT services exporter and has strong global presence. It provides industry wide solutions including next gen services like Cloud computing, digital transformations, IoT, Machine learning etcWe recommend a Buy the stock for a target price of Rs 1895 implying an upside of 10% from CMP.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.

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In early February 2022, Indian IT giant <a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Svcs (TCS IN)</a> officially announced a INR180bn (~US$2.4bn) Buyback which is one of the largest in Indian stock market history.</li>
<li>Today the company published the Letter of Offer confirming the final details and the expected timeline for this Buyback.</li>
<li>Below is a closer look at these details and their implications for shareholders.</li>
</ul>


In early February 2022, Indian IT giant Tata Consultancy Svcs (TCS IN) officially announced a INR180bn (~US$2.4bn) Buyback which is one of the largest in Indian stock market history.
Today the company published the Letter of Offer confirming the final details and the expected timeline for this Buyback.
Below is a closer look at these details and their implications for shareholders.


Tata Consultancy Services (TCS IN): US$2.4bn Mega Buyback - Letter of Offer Out; TCS Cheap Vs Peers

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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

Infosys Ltd Sp Adr (INFY US)

Navi Technologies Pre-IPO - The Negatives - Still Very Much a Work-In-Progress

Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to...

Sumeet Singh

Navi Technologies Pre-IPO - The Positives - Sold the First for US$20bn, Now Building One Without VCs

Navi Technologies (NT) aims to raise around US$500m in its India listing. NT was started by Sachin Bansal, co-founder of Flipkart which was sold to...

Sumeet Singh

Fabindia Pre-IPO - The Negatives - Past Financial Performance Trends Remain Unclear

Fabindia is a consumer lifestyle platform with a 62-year legacy focused on authentic, sustainable and Indian traditional lifestyle products. It is...

Sumeet Singh

Pick of the Week: Infosys Ltd

Infosys is India’s second largest IT services exporter and has strong global presence. We recommend a Buy the stock for a target price of Rs 1895...

Axis Direct

Tata Consultancy Services (TCS IN): US$2.4bn Mega Buyback - Letter of Offer Out; TCS Cheap Vs Peers

The Letter of Offer for the INR180bn (~US$2.4bn) Buyback by Tata Consultancy Services has been published. No major changes is pro-ration...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)