IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Tata Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tata-technologies" target="_blank" data-smartkarma-citation="entities:23700:1" rel="noopener">Tata Technologies (TATATECH IN)</a> priced its IPO at Rs500 per share to raise gross proceeds of US$365 million. The shares will start trading tomorrow.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/tata-technologies-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:117597" rel="noopener">Tata Technologies IPO: The Investment Case</a> and <a href="https://www.smartkarma.com/insights/tata-technologies-ipo-valuation-insights" target="_blank" data-smartkarma-citation="insights:117850" rel="noopener">Tata Technologies IPO: Valuation Insights</a>. </li>
<li>The market sentiment on the sector has improved. In 2023, Indian IPOs with a &gt;US$100 million raise had an average first-day gain of 28.3%. The IPO price is attractive.  </li>
</ul>



Tata Technologies (TATATECH IN) priced its IPO at Rs500 per share to raise gross proceeds of US$365 million. The shares will start trading tomorrow.
We previously discussed the IPO in Tata Technologies IPO: The Investment Case and Tata Technologies IPO: Valuation Insights. 
The market sentiment on the sector has improved. In 2023, Indian IPOs with a &gt;US$100 million raise had an average first-day gain of 28.3%. The IPO price is attractive.  


APAC IPOs & Placements, Aequitas Research

Clarence Chu

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.

Concord Biotech Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/concord-biotech-ltd" target="_blank" data-smartkarma-citation="entities:36267:1" rel="noopener">Concord Biotech Ltd (658823Z IN)</a> raised US$188m in its India IPO.</li>
<li>Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).</li>
<li>In this note, we will talk about the trading dynamics.</li>
</ul>



Concord Biotech Ltd (658823Z IN) raised US$188m in its India IPO.
Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).
In this note, we will talk about the trading dynamics.


Concord Biotech IPO Trading - Strong Subscription Rates, Peers Have Moved up Since Last Note

<ul>
<li>
<a href="https://www.smartkarma.com/entities/concord-biotech-ltd" target="_blank" data-smartkarma-citation="entities:36267:1" rel="noopener">Concord Biotech Ltd (658823Z IN)</a> is looking to raise around US$188m in its India IPO.</li>
<li>Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).</li>
<li>In this note, we will undertake a peer comparison, and share our thoughts on valuation.</li>
</ul>



Concord Biotech Ltd (658823Z IN) is looking to raise around US$188m in its India IPO.
Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).
In this note, we will undertake a peer comparison, and share our thoughts on valuation.


Concord Biotech IPO - Peer Comparison & Valuation - Smaller in Scale but Wider in Margins

<ul>
<li>
<a href="https://www.smartkarma.com/entities/concord-biotech-ltd" target="_blank" data-smartkarma-citation="entities:36267:1" rel="noopener">Concord Biotech Ltd (658823Z IN)</a> is looking to raise around US$188m in its India IPO.</li>
<li>Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).</li>
<li>As per F&amp;S, Concord was one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on FY21 volume.</li>
</ul>



Concord Biotech Ltd (658823Z IN) is looking to raise around US$188m in its India IPO.
Concord Biotech (Concord) is an India-based biopharma firm, which develops and manufactures fermentation-based active pharmaceutical ingredients (APIs).
As per F&amp;S, Concord was one of the leading global developers and manufacturers of select fermentation-based APIs across immunosuppressants and oncology in terms of market share, based on FY21 volume.


Concord Biotech IPO - RHP Updates - Continued Growing Although Concentration Risk Remains Elevated

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>We spent the second half of last week meeting ECM focused clients in Hong Kong.</li>
<li>Overall, the mood remains somewhat grim for Hong Kong/China and it will be up to a few upcoming deals to open up the market again.</li>
<li>In this note, we talk about some of the feedback for the upcoming IPOs and placements.</li>
</ul>


We spent the second half of last week meeting ECM focused clients in Hong Kong.
Overall, the mood remains somewhat grim for Hong Kong/China and it will be up to a few upcoming deals to open up the market again.
In this note, we talk about some of the feedback for the upcoming IPOs and placements.


ECM Asia Takeaways from Hong Kong Investor Meetings - Rakuten, Growatt, JD Industrial and Others

India

Nexus Select Trust (NST) is a REIT with a portfolio of 17 Grade A urban consumption centers. Its diverse portfolio covers retail malls with a total leasable area of 9.8msf, three office assets (1.3msf), two hospitality assets and a renewable power plant.

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Nexus Select Trust (NST IN)

Tata Technologies IPO: Trading Debut

The market sentiment on the sector has improved. In 2023, Indian IPOs with a >US$100 million raise had an average first-day gain of 28.3%. The IPO...

Arun George

Concord Biotech IPO Trading - Strong Subscription Rates, Peers Have Moved up Since Last Note

Concord Biotech Ltd (658823Z IN) raised US$188m in its India IPO. In this note, we will talk about the trading dynamics.

Clarence Chu

Concord Biotech IPO - Peer Comparison & Valuation - Smaller in Scale but Wider in Margins

Concord Biotech Ltd (658823Z IN) is looking to raise around US$188m in its India IPO. In this note, we will undertake a peer comparison, and share...

Clarence Chu

Concord Biotech IPO - RHP Updates - Continued Growing Although Concentration Risk Remains Elevated

Concord Biotech Ltd (658823Z IN) is looking to raise around US$188m in its India IPO. Concord is an India-based biopharma firm, which develops and...

Clarence Chu

ECM Asia Takeaways from Hong Kong Investor Meetings - Rakuten, Growatt, JD Industrial and Others

We spent the second half of last week meeting ECM focused clients in Hong Kong. In this note, we talk about some of the investor feedback for live...

Sumeet Singh

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