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

Life Insurance  of India / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPOs front, LIC's anchor book wasn't great while Delhivery finally launched its IPO and Hong Kong market saw its first launch in a while.</li>
<li>Placements remained few and far between with only <a href="https://www.smartkarma.com/entities/air-new-zealand-ltd" target="_blank" data-smartkarma-citation="entities:815:1" rel="noopener">Air New Zealand (AIR NZ)</a> launching its shortfall bookbuild.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPOs front, LIC's anchor book wasn't great while Delhivery finally launched its IPO and Hong Kong market saw its first launch in a while.
Placements remained few and far between with only Air New Zealand (AIR NZ) launching its shortfall bookbuild.


ECM Weekly (9th May 22) - LIC, Campus, Rainbow, Delhivery, Shieldus, Yunkang, PAG, Keep, Air NZ

<ul>
<li>Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.</li>
<li>This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target.</li>
<li>We have looked at various aspects of the deal in our earlier notes. In this note, we compare it's anchor book results with recent listings.</li>
</ul>


Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.
This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target.
We have looked at various aspects of the deal in our earlier notes. In this note, we compare it's anchor book results with recent listings.


Life Insurance Corporation of India IPO - Anchor Book Results Weren’t Great

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 href="https://www.smartkarma.com/entities/life-insurance-corp-of-india-lic" target="_blank" data-smartkarma-citation="entities:28829:1" rel="noopener">Life Insurance Corp of India (LIC) (1248Z IN)</a> is the largest life insurer in India. At the IPO price range of Rs902-904, the Indian government aims to raise $2.6-2.7 billion. </li>
<li>In <a href="https://www.smartkarma.com/insights/life-insurance-corp-of-india-ipo-key-takeaways-from-the-rhp" target="_blank" data-smartkarma-citation="insights:69219" rel="noopener">Life Insurance Corp of India IPO: Key Takeaways from the RHP</a>,  we outlined the latest developments from the Red Herring Prospectus.</li>
<li>In this note, we look at LIC’s valuation metrics. In light of the challenging market conditions, the IPO price range is reasonable.</li>
</ul>



Life Insurance Corp of India (LIC) (1248Z IN) is the largest life insurer in India. At the IPO price range of Rs902-904, the Indian government aims to raise $2.6-2.7 billion. 
In Life Insurance Corp of India IPO: Key Takeaways from the RHP,  we outlined the latest developments from the Red Herring Prospectus.
In this note, we look at LIC’s valuation metrics. In light of the challenging market conditions, the IPO price range is reasonable.


Life Insurance Corp of India IPO: Valuation Insights

<ul>
<li>
<a href="https://www.smartkarma.com/entities/life-insurance-corp-of-india-lic" target="_blank" data-smartkarma-citation="entities:28829:1" rel="noopener">Life Insurance Corp of India (LIC) (1248Z IN)</a> is set to launch its IPO with the anchor investor offer period starting 2 May. The offer period closes on 9 May. </li>
<li>At the IPO price range of Rs902-949, the Indian government aims to raise $2.6-2.7 billion, which is materially lower than the initial target of $8.7 billion. </li>
<li>Following up on <a href="https://www.smartkarma.com/insights/life-insurance-corp-of-india-ipo-premium-market" target="_blank" data-smartkarma-citation="insights:65600" rel="noopener">Life Insurance Corp of India IPO: Premium Market</a>, in this note, we look at the latest developments from the Red Herring Prospectus. </li>
</ul>



Life Insurance Corp of India (LIC) (1248Z IN) is set to launch its IPO with the anchor investor offer period starting 2 May. The offer period closes on 9 May. 
At the IPO price range of Rs902-949, the Indian government aims to raise $2.6-2.7 billion, which is materially lower than the initial target of $8.7 billion. 
Following up on Life Insurance Corp of India IPO: Premium Market, in this note, we look at the latest developments from the Red Herring Prospectus. 


Life Insurance Corp of India IPO: Key Takeaways from the RHP

<ul>
<li>Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.</li>
<li>This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target.</li>
<li>We have looked at various aspects of the deal in our earlier notes. In this note, we compare it to its international peers and talk about valuations.</li>
</ul>


Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.
This is less than half of its initial plans in terms of fundraising target and comes at less than half of its initial valuation target.
We have looked at various aspects of the deal in our earlier notes. In this note, we compare it to its international peers and talk about valuations.


Life Insurance Corporation of India IPO - Regional Peer Comparison

India

SBI Life Insurance Company Limited offers financial services. The Company provides claims, general insurance, online banking, retirement plans, tax calculators, revival of lapsed policies, and other services. SBI Life Insurance serves customers in India.

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SBI Life Insurance Co Ltd (SBILIFE IN)

ECM Weekly (9th May 22) - LIC, Campus, Rainbow, Delhivery, Shieldus, Yunkang, PAG, Keep, Air NZ

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Life Insurance Corporation of India IPO - Anchor Book Results Weren’t Great

Government of India (GoI) is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its upcoming...

Sumeet Singh

Life Insurance Corp of India IPO: Valuation Insights

The offer period is 4-9 May. The shares will be listed on 17 May. In light of the challenging market conditions, the IPO price range is reasonable.

Arun George

Life Insurance Corp of India IPO: Key Takeaways from the RHP

LIC is set to launch its IPO with the anchor investor offer period starting on 2 May. In this note, we look at the key developments from the Red...

Arun George

Life Insurance Corporation of India IPO - Regional Peer Comparison

Government of India is looking to raise around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India in its upcoming India IPO....

Sumeet Singh

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