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.

Event-Driven

<ul>
<li>Adani Enterprises is looking to raise INR200bn (US$2.4bn) via a further public offering (FPO). Bookbuild will begin tomorrow (27th Jan 23) and last till the end of the month.</li>
<li>Adani Enterprises is the flagship company of the Adani Group. The group’s entities' stock performance over the past few years has made the founder one of the richest persons globally.</li>
<li>We have covered most aspects of the deal in our earlier note published. In this note, we talk about the recent updates and the deal pricing and structure.</li>
</ul>


Adani Enterprises is looking to raise INR200bn (US$2.4bn) via a further public offering (FPO). Bookbuild will begin tomorrow (27th Jan 23) and last till the end of the month.
Adani Enterprises is the flagship company of the Adani Group. The group’s entities' stock performance over the past few years has made the founder one of the richest persons globally.
We have covered most aspects of the deal in our earlier note published. In this note, we talk about the recent updates and the deal pricing and structure.


Adani Enterprises US$2.4bn FPO - Updates, Pricing, Structure, Anchor and Some More

Alpha-Centric ESG Research

Kyle Rudden

<ul>
<li>
<a href="https://www.smartkarma.com/entities/carsome-group" target="_blank" data-smartkarma-citation="entities:35913:1" rel="noopener">Carsome (CARSOME1 SP)</a>, Malaysia's used-car eCommerce/technology unicorn, has reportedly submitted a confidential IPO filing for a dual listing on Nasdaq and <a href="https://www.smartkarma.com/entities/singapore-exchange-ltd" target="_blank" data-smartkarma-citation="entities:1047:1" rel="noopener">Singapore Exchange</a>.</li>
<li>Carsome has a great ESG story to tell, but needs to be less humble about telling it because pre-IPO ESG messaging can impact IPO valuations, especially for transportation-related deals.</li>
<li>The centerpiece of Carsome's ESG story should be the important (but underappreciated) role of used car markets in decarbonising road transportation, a leading source of carbon emissions.</li>
</ul>



Carsome (CARSOME1 SP), Malaysia's used-car eCommerce/technology unicorn, has reportedly submitted a confidential IPO filing for a dual listing on Nasdaq and Singapore Exchange.
Carsome has a great ESG story to tell, but needs to be less humble about telling it because pre-IPO ESG messaging can impact IPO valuations, especially for transportation-related deals.
The centerpiece of Carsome's ESG story should be the important (but underappreciated) role of used car markets in decarbonising road transportation, a leading source of carbon emissions.


Carsome: A Paradigm of Circular Economy and Unsung Hero in the Decarbonisation of Transportation

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>Reliance Retail Ventures will launch Shein in India, four years after its ban</li>
<li>Indian Railways plans 10,000 non-AC coaches by 2025-26 to alleviate overcrowding issues</li>
<li>The coal sector achieved a notable 10.2% growth in May, leading key infrastructure industries</li>
</ul>


Reliance Retail Ventures will launch Shein in India, four years after its ban
Indian Railways plans 10,000 non-AC coaches by 2025-26 to alleviate overcrowding issues
The coal sector achieved a notable 10.2% growth in May, leading key infrastructure industries


#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO

<ul>
<li>Hyundai Motor India files for India's largest IPO, faces supply chain risks</li>
<li>Vedanta's growth initiatives aim to boost EBITDA to $10 billion</li>
<li>HFCL, India's only firm exempt from European optical fiber anti-dumping duties</li>
</ul>


Hyundai Motor India files for India's largest IPO, faces supply chain risks
Vedanta's growth initiatives aim to boost EBITDA to $10 billion
HFCL, India's only firm exempt from European optical fiber anti-dumping duties


#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

<ul>
<li>Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga</li>
<li>Reliance entering into logistics infrastructure sector with its logistics park in Chennai</li>
<li>NTPC soon to launch its renewables arm IPO of 10,000 crore after elections</li>
</ul>


Adani Group readying its war-chest with the fund raise as it recovered from Hindenburg Saga
Reliance entering into logistics infrastructure sector with its logistics park in Chennai
NTPC soon to launch its renewables arm IPO of 10,000 crore after elections


#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

India

Life Insurance Corporation of India operates as an insurance company. The Company provides life, pension, health, and micro insurance products and services. Life Insurance serves customers in India.

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Life Insurance of India (LICI IN)

Adani Enterprises US$2.4bn FPO - Updates, Pricing, Structure, Anchor and Some More

Adani Enterprises is looking to raise INR200bn (US$2.4bn) via a further public offering (FPO). We have covered most of the details in our prior...

Sumeet Singh

Carsome: A Paradigm of Circular Economy and Unsung Hero in the Decarbonisation of Transportation

Carsome has reportedly filed for an IPO (dual Nasdaq/SGX listing), and has a great ESG story to tell investors including the role that used car...

Kyle Rudden

#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO

Reliance Retail Ventures to bring back Shein in India, Indian Railways to add 10,000 non-AC coaches, coal sector sees 10.2% growth in May.

Sudarshan Bhandari

#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...

Sudarshan Bhandari

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Adani Enterprises US$2.4bn FPO - Updates, Pricing, Structure, Anchor and Some More

Adani Enterprises is looking to raise INR200bn (US$2.4bn) via a further public offering (FPO). We have covered most of the details in our prior...

Sumeet Singh

Carsome: A Paradigm of Circular Economy and Unsung Hero in the Decarbonisation of Transportation

Carsome has reportedly filed for an IPO (dual Nasdaq/SGX listing), and has a great ESG story to tell investors including the role that used car...

Kyle Rudden

#25 India Insight: LIC Stake in IDFC, INOX Wind Soars 13%, Reliance Retail to Launch Shein IPO

​Reliance Retail Ventures to bring back Shein in India, Indian Railways to add 10,000 non-AC coaches, coal sector sees 10.2% growth in May.

Sudarshan Bhandari

#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

​Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...

Sudarshan Bhandari

#2 India Insights: Adani on Fundraising Spree, RIL Betting on Logistics, NTPC Green IPO Soon

​Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.

Sudarshan Bhandari

Reliance Retail Ventures to bring back Shein in India, Indian Railways to add 10,000 non-AC coaches, coal sector sees 10.2% growth in May.

Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...

Adani Group rebounds from Hindenburg Saga, Reliance ventures into logistics, NTPC to launch renewables IPO post-elections.