APAC IPOs & Placements, Aequitas Research

Akshat Shah

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

Kalpataru Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kalpataru-limited" target="_blank" data-smartkarma-citation="entities:43866:1" rel="noopener">Kalpataru Limited (KTARU IN)</a> is looking to raise about US$189m in its upcoming India IPO. The deal will be run by ICICI, JM Fin and Nomura.</li>
<li>Kalpataru is an integrated real estate development company involved in activities associated with real estate development, including identification and acquisition of land, planning, designing, execution, sales, and marketing of projects.</li>
<li>It is a prominent real estate developer in the Mumbai Metropolitan Region (MMR) and is present across all micro-markets in MMR, as per an Anarock Report.</li>
</ul>



Kalpataru Limited (KTARU IN) is looking to raise about US$189m in its upcoming India IPO. The deal will be run by ICICI, JM Fin and Nomura.
Kalpataru is an integrated real estate development company involved in activities associated with real estate development, including identification and acquisition of land, planning, designing, execution, sales, and marketing of projects.
It is a prominent real estate developer in the Mumbai Metropolitan Region (MMR) and is present across all micro-markets in MMR, as per an Anarock Report.


Clarence Chu

Afcons Infrastructure Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/afcons-infrastructure-limited" target="_blank" data-smartkarma-citation="entities:41288:1" rel="noopener">Afcons Infrastructure Limited (6595396Z IN)</a> is looking to raise around US$650m in its India IPO.</li>
<li>Afcons Infrastructure Limited (Afcons) is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group.</li>
<li>In a previous note, we looked at the firm’s past performance. In this note, we look at the updates since, and discuss valuation.</li>
</ul>



Afcons Infrastructure Limited (6595396Z IN) is looking to raise around US$650m in its India IPO.
Afcons Infrastructure Limited (Afcons) is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group.
In a previous note, we looked at the firm’s past performance. In this note, we look at the updates since, and discuss valuation.


Afcons Infrastructure IPO - Decent Upside from the Price Range

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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>Tier-1 infrastructure developers are trading at ~16x 1-yr forward valuation.</li><li>The sector has witnessed re-rating as (1) ordering may remain strong with the emergence of new segments like water, railway, etc.</li><li>(2) asset monetisation is fructifying, (3) balance sheets are strong and NWC days are stable, and (4) cash flow generation is likely to be robust.</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>

Tier-1 infrastructure developers are trading at ~16x 1-yr forward valuation.The sector has witnessed re-rating as (1) ordering may remain strong with the emergence of new segments like water, railway, etc.(2) asset monetisation is fructifying, (3) balance sheets are strong and NWC days are stable, and (4) cash flow generation is likely to be robust.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.

Industrials (Q2FY25 Results Preview): Awaiting ordering revival

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

JD.com Inc (ADR) / Equity Capital Markets

<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 IPO front, we looked at a number of upcoming listings in India.</li>
<li>There was a revival in placement flows during the week, after a lull over the past few weeks.</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 IPO front, we looked at a number of upcoming listings in India.
There was a revival in placement flows during the week, after a lull over the past few weeks.


ECM Weekly (26th Aug 2024) - Zomato, Colowide, Star Asia, Yamaha, 99Speed, Hero Fin, Bajaj Housing

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Kalpataru Limited (KTARU IN)

Kalpataru Pre-IPO Tearsheet

Kalpataru Limited is looking to raise about US$189m in its upcoming India IPO. The deal will be run by ICICI, JM Fin and Nomura.

Akshat Shah

Afcons Infrastructure IPO - Decent Upside from the Price Range

Afcons Infrastructure Limited (6595396Z IN) is looking to raise around US$650m in its India IPO. In this note, we look at the updates since, and...

Clarence Chu

Industrials (Q2FY25 Results Preview): Awaiting ordering revival

The sector has witnessed re-rating as (1) ordering may remain strong with the emergence of new segments like water, railway, etc.

HDFC Securities

ECM Weekly (26th Aug 2024) - Zomato, Colowide, Star Asia, Yamaha, 99Speed, Hero Fin, Bajaj Housing

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)