APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

Premier Energies Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/premier-energies-limited" target="_blank" data-smartkarma-citation="entities:42190:1" rel="noopener">Premier Energies Limited (0377949D IN)</a> raised around US$337m after pricing the deal at the top end of the range at INR450 / share.</li>
<li>It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services.</li>
<li>We have looked at various aspects of the deal in our previous notes. In this note,  we talk about demand and trading dynamics. </li>
</ul>



Premier Energies Limited (0377949D IN) raised around US$337m after pricing the deal at the top end of the range at INR450 / share.
It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services.
We have looked at various aspects of the deal in our previous notes. In this note,  we talk about demand and trading dynamics. 


Premier Energies IPO Trading - Very Strong Insti Demand, Looks Ready to Pop

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Forensic Accounting

Premier Energies Limited / Forensic Accounting

<ul>
<li>Premier Energies made SALE before Offer For Sale - A mini OFS just before IPO to close investors who helped company in its journey till IPO.</li>
<li>The stake sale amounting to INR 800+ crores raises the concern over governance and disclosure norms</li>
<li>Such a unique case where the promoter used the loophole might face actions from SEBI.</li>
</ul>


Premier Energies made SALE before Offer For Sale - A mini OFS just before IPO to close investors who helped company in its journey till IPO.
The stake sale amounting to INR 800+ crores raises the concern over governance and disclosure norms
Such a unique case where the promoter used the loophole might face actions from SEBI.


Premier Energies Promoter Sold Shares Just Before IPO Raises Governance Concern

<ul>
<li>
<a href="https://www.smartkarma.com/entities/premier-energies-limited" target="_blank" data-smartkarma-citation="entities:42190:1" rel="noopener">Premier Energies Limited (0377949D IN)</a> is looking to raise up to US$337m in its India IPO, after upsizing from an earlier reported float of US$300m.</li>
<li>The firm manufactures solar photovoltaic (PV) cells, and solar modules. It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services.</li>
<li>Previously, we talked about the company’s historical performance. In this note, we provide a summary of its RHP updates and share our quick thoughts on peer comparison and valuation.</li>
</ul>



Premier Energies Limited (0377949D IN) is looking to raise up to US$337m in its India IPO, after upsizing from an earlier reported float of US$300m.
The firm manufactures solar photovoltaic (PV) cells, and solar modules. It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services.
Previously, we talked about the company’s historical performance. In this note, we provide a summary of its RHP updates and share our quick thoughts on peer comparison and valuation.


Premier Energies IPO - RHP Updates & Quick Thoughts on Peer Comp and Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/premier-energies-limited" target="_blank" data-smartkarma-citation="entities:42190:1" rel="noopener">Premier Energies Limited (0377949D IN)</a> is looking to raise US$300m in its upcoming India IPO. It is a manufacturer of solar photovoltaic (PV) cells, and solar modules. </li>
<li>It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services. </li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Premier Energies Limited (0377949D IN) is looking to raise US$300m in its upcoming India IPO. It is a manufacturer of solar photovoltaic (PV) cells, and solar modules. 
It also executes engineering, procurement, and construction (EPC) projects and provides follow-up operation and maintenance (O&amp;M) services. 
In this note, we talk about the company’s historical performance.


Premier Energies Pre-IPO - Still Ramping up but Already Profitable

Indian Accounting Research Analyst, Trudence Capital Advisors

Nitin Mangal

Indian Accounting Research Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>
<a href="https://www.smartkarma.com/entities/premier-energies-limited" target="_blank" data-smartkarma-citation="entities:42190:1" rel="noopener">Premier Energies Limited (0377949D IN)</a> is into manufacturing of solar cells and modules. The company is the second largest integrated player (cell+module) in India with a market share of 28%</li>
<li>The business has picked up in the last two years. Revenues, order book and capacities have increased and margins have also seen improvement. </li>
<li>However, the company is struggling on cash conversion on the back of highly levered balance sheet. Focus should also be on few questionable related party transactions.</li>
</ul>



Premier Energies Limited (0377949D IN) is into manufacturing of solar cells and modules. The company is the second largest integrated player (cell+module) in India with a market share of 28%
The business has picked up in the last two years. Revenues, order book and capacities have increased and margins have also seen improvement. 
However, the company is struggling on cash conversion on the back of highly levered balance sheet. Focus should also be on few questionable related party transactions.


Premier Energies Ltd IPO- Forensic Analysis

India

Premier Solar Systems Private Limited manufactures solar energy equipment. The Company offers PV modules, lanterns, street lighting, water pumps, and power plants. Premier Solar Systems serves customers in India.

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Premier Energies Limited (0377949D IN)

Premier Energies IPO Trading - Very Strong Insti Demand, Looks Ready to Pop

Premier Energies Limited (0377949D IN) raised around US$337m after pricing the deal at the top end of the range at INR450 / share.

Ethan Aw

Premier Energies Promoter Sold Shares Just Before IPO Raises Governance Concern

Premier Energies made SALE before Offer For Sale - A mini OFS just before IPO to close investors who helped company in its journey till IPO

Nimish Maheshwari

Premier Energies IPO - RHP Updates & Quick Thoughts on Peer Comp and Valuation

Premier Energies Limited (0377949D IN) is looking to raise up to US$337m in its India IPO, after upsizing from an earlier reported float of US$300m.

Ethan Aw

Premier Energies Pre-IPO - Still Ramping up but Already Profitable

Premier Energies Limited (0377949D IN) is looking to raise US$300m in its upcoming India IPO. It is a manufacturer of solar photovoltaic (PV)...

Ethan Aw

Premier Energies Ltd IPO- Forensic Analysis

The business has picked up in the last two years. However, the company is struggling on cash conversion on the back of highly levered balance...

Nitin Mangal

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52-week Range

Market Cap (USDm)

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