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>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a> managed to raise around US$734m in its India IPO.</li>
<li>Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells</li>
<li>In our previous notes, we looked at the company’s past performance and valuations. In this note, we talk about the trading dynamics.</li>
</ul>



Ola Electric managed to raise around US$734m in its India IPO.
Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells
In our previous notes, we looked at the company’s past performance and valuations. In this note, we talk about the trading dynamics.


Ola Electric IPO Trading - Decent Anchor, Tepid Overall Demand

Investment Research - Asia Consumer Sector, Investory

Devi Subhakesan

Investment Research - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (1700674D IN)</a> 's IPO appears attractive versus peers based on valuation analysis, supported by detailed sales and revenue projections.  </li>
<li>Expect strong near-term revenue growth driven by its dominant market presence, e-mobility expansion, and potential entry into the e-motorcycle segment.</li>
<li>With a significant head start in the rapidly growing e2W sector, Ola's robust product lineup, competitive pricing, and strong brand make it a compelling EV play.</li>
</ul>



Ola Electric (1700674D IN) 's IPO appears attractive versus peers based on valuation analysis, supported by detailed sales and revenue projections.  
Expect strong near-term revenue growth driven by its dominant market presence, e-mobility expansion, and potential entry into the e-motorcycle segment.
With a significant head start in the rapidly growing e2W sector, Ola's robust product lineup, competitive pricing, and strong brand make it a compelling EV play.


Ola Electric IPO: Valuation Analysis. A High-Voltage EV Play

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (1700674D IN)</a> plans to raise INR55bn through fresh issue of shares while existing shareholders will offer 84.9m shares at an indicative IPO price band of INR72-76 per share.</li>
<li>We expect the company’s revenues to continue to expand and grow at much higher rates during the next few years compared to competitors in the Indian two-wheeler market.</li>
<li>Our valuation analysis suggests that Ola Electric’s IPO is attractively priced compared to peers and we would suggest subscribing for the company’s IPO.</li>
</ul>



Ola Electric (1700674D IN) plans to raise INR55bn through fresh issue of shares while existing shareholders will offer 84.9m shares at an indicative IPO price band of INR72-76 per share.
We expect the company’s revenues to continue to expand and grow at much higher rates during the next few years compared to competitors in the Indian two-wheeler market.
Our valuation analysis suggests that Ola Electric’s IPO is attractively priced compared to peers and we would suggest subscribing for the company’s IPO.


Ola Electric IPO: Forecasts and Valuation

<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, the coming week will see see the listing of <a href="https://www.smartkarma.com/entities/akums-drugs-and-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:40915:1" rel="noopener">Akums Drugs</a> while books will  be open for <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a>, <a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions</a> and <a href="https://www.smartkarma.com/entities/black-sesame-technologies-inc" target="_blank" data-smartkarma-citation="entities:39894:1" rel="noopener">Black Sesame Technologies.</a>
</li>
<li>On the placement front, there were two large deals in <a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" data-smartkarma-citation="entities:41:1" rel="noopener">Fortescue Metals (FMG AU)</a> and <a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" data-smartkarma-citation="entities:26712:1" rel="noopener">Adani Transmission (ADANIT IN)</a>. </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, the coming week will see see the listing of Akums Drugs while books will  be open for Ola Electric, BrainBees Solutions and Black Sesame Technologies.

On the placement front, there were two large deals in Fortescue Metals (FMG AU) and Adani Transmission (ADANIT IN). 


ECM Weekly (5th Aug 2024) - Ola Electric, Brainbees, WeRide, Sanil, CR Beverages, Carote, Fortescue

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.

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (1700674D IN)</a> and <a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (0172540D IN)</a> IPOs.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/a8-new-media-group-ltd" target="_blank" data-smartkarma-citation="entities:3444:1" rel="noopener">A8 New Media (800 HK)</a>, <a href="https://www.smartkarma.com/entities/asia-cement-china-holdings" target="_blank" data-smartkarma-citation="entities:3374:1" rel="noopener">Asia Cement China (743 HK)</a>, <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a>, <a href="https://www.smartkarma.com/entities/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl Corp (4921 JP)</a>, <a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a>, <a href="https://www.smartkarma.com/entities/pacific-metals-co-ltd" target="_blank" data-smartkarma-citation="entities:3439:1" rel="noopener">Pacific Metals (5541 JP)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: Ola Electric (1700674D IN) and BrainBees Solutions (0172540D IN) IPOs.
Event-Driven developments: A8 New Media (800 HK), Asia Cement China (743 HK), CPMC Holdings (906 HK), Fancl Corp (4921 JP), Sun Corp (6736 JP), Pacific Metals (5541 JP). 


Weekly Deals Digest (04 Aug) - Ola, Brainbees, A8, Asia Cement, CPMC, Fancl, Sun Corp, Heiwa

India

OLA Electric Mobility Limited manufactures electric vehicles. The Company focuses on designing, engineering, and manufacturing of electric scooters and bikes, as well as components like battery packs, motors, and vehicle frames. OLA Electric Mobility serves customers worldwide.

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Ola Electric (OLAELEC IN)

Ola Electric IPO Trading - Decent Anchor, Tepid Overall Demand

Ola Electric managed to raise around US$734m in its India IPO. In this note, we talk about the trading dynamics. While the anchor book was decent,...

Sumeet Singh

Ola Electric IPO: Valuation Analysis. A High-Voltage EV Play

Ola Electric IPO subscription closes tomorrow, Tuesday Aug 6th. This Insight gives you Valuation comp with sector peers.based on detailed...

Devi Subhakesan

Ola Electric IPO: Forecasts and Valuation

Ola Electric plans to raise INR55bn through fresh issue of shares and our valuation analysis suggests that Ola Electric’s IPO is attractively...

Shifara Samsudeen, ACMA, CGMA

ECM Weekly (5th Aug 2024) - Ola Electric, Brainbees, WeRide, Sanil, CR Beverages, Carote, Fortescue

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

Weekly Deals Digest (04 Aug) - Ola, Brainbees, A8, Asia Cement, CPMC, Fancl, Sun Corp, Heiwa

Last week, notable developments occurred in Event-Driven (A8, Asia Cement China, CPMC, Fancl, Sun Corp, Heiwa Real Estate, Pacific Metals) and ECM...

Arun George

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