Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There could be 13 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 48.8% and that will result in a one-way trade of INR 35.5bn (US$426m).</li>
<li>Since January, the potential adds to the index have outperformed the potential deletes by a big margin. Watch out for the general election results on 4 June for momentum change.</li>
</ul>


There could be 13 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 27 June.
If all changes are on expected lines, one-way turnover is estimated at 48.8% and that will result in a one-way trade of INR 35.5bn (US$426m).
Since January, the potential adds to the index have outperformed the potential deletes by a big margin. Watch out for the general election results on 4 June for momentum change.


NIFTY200 Momentum30 Index Rebalance Preview: 49% Turnover; US$850m Trade; Election Results Coming

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

Go Digit General Insurance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-digit-general-insurance-l" target="_blank" data-smartkarma-citation="entities:36266:1" rel="noopener">Go Digit General Insurance</a> raised around US$315m in its India IPO.</li>
<li>Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.</li>
<li>We have looked at the company’s performance in our past note. In this note, we talk about the trading dynamics.</li>
</ul>



Go Digit General Insurance raised around US$315m in its India IPO.
Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.
We have looked at the company’s performance in our past note. In this note, we talk about the trading dynamics.


Go Digit IPO Trading - Low Subscription Rate, Not All Shares Are Locked Up

Aadhar Housing Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aadhar-housing-finance-ltd" target="_blank" data-smartkarma-citation="entities:32152:1" rel="noopener">Aadhar Housing Finance</a>(AHF) raised around US$360m in its India IPO, via selling a mix of primary and secondary shares.</li>
<li>AHF is focused on the low income housing segments (ticket size less than INR1.5m) in India. It offers a range of mortgage-related loan products.</li>
<li>We have looked at the company’s performance and valuation in our past notes. In this note, we talk about the trading dynamics.</li>
</ul>



Aadhar Housing Finance(AHF) raised around US$360m in its India IPO, via selling a mix of primary and secondary shares.
AHF is focused on the low income housing segments (ticket size less than INR1.5m) in India. It offers a range of mortgage-related loan products.
We have looked at the company’s performance and valuation in our past notes. In this note, we talk about the trading dynamics.


Aadhar Housing Finance IPO Trading - More Loved by Institutional Investors than Retail

<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-digit-general-insurance-l" target="_blank" data-smartkarma-citation="entities:36266:1" rel="noopener">Go Digit General Insurance </a>is looking to raise around US$315m in its India IPO.</li>
<li>Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.</li>
<li>We have looked at the company’s performance in our past note. In this note, we talk about the refiling updates and valuations.</li>
</ul>



Go Digit General Insurance is looking to raise around US$315m in its India IPO.
Go Digit General Insurance is a digital full stack insurance company, offering motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.
We have looked at the company’s performance in our past note. In this note, we talk about the refiling updates and valuations.


Go Digit General Insurance IPO - Growth Remains Strong, Valuation Isn’t Cheap

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards the end of the year.</li>
<li>Swiggy, along with Zomato, operates a duopoly that has come to dominate the food delivery market in India. In 1H24, Swiggy serviced over 274,000 restaurants via its 370,000 delivery partners.</li>
<li>In this note, we will take an early look at the company based on the publicly available financials. </li>
</ul>



Swiggy aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards the end of the year.
Swiggy, along with Zomato, operates a duopoly that has come to dominate the food delivery market in India. In 1H24, Swiggy serviced over 274,000 restaurants via its 370,000 delivery partners.
In this note, we will take an early look at the company based on the publicly available financials. 


Swiggy Pre-IPO Early Look - Innovation Leader, Profitability Laggard

India

State Bank of India provides a wide range of banking and financial services to corporate, institutional, commercial, agricultural, industrial and individual customers throughout India.  The Bank also provides international banking to its Indian customers and has operations in other countries.

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State Bank Of India (SBIN IN)

NIFTY200 Momentum30 Index Rebalance Preview: 49% Turnover; US$850m Trade; Election Results Coming

There could be 13 changes for the Nifty200 Momentum 30 Index in June. The potential adds have outpeformed the potential deletes. Results of the...

Brian Freitas

Go Digit IPO Trading - Low Subscription Rate, Not All Shares Are Locked Up

Go Digit General Insurance raised around US$315m in its India IPO. In this note, we talk about the subscription rate and other trading dynamics.

Sumeet Singh

Aadhar Housing Finance IPO Trading - More Loved by Institutional Investors than Retail

Aadhar Housing Finance(AHF) raised around US$360m in its India IPO, via selling a mix of primary and secondary shares. In this note, we talk about...

Sumeet Singh

Go Digit General Insurance IPO - Growth Remains Strong, Valuation Isn’t Cheap

Go Digit General Insurance is looking to raise around US$315m in its India IPO. We have looked at the company's past performance in our earlier...

Sumeet Singh

Swiggy Pre-IPO Early Look - Innovation Leader, Profitability Laggard

Swiggy aims to raise US$1.25bn in its upcoming India IPO. The company has filed confidentially for its IPO, which is likely to be launched towards...

Sumeet Singh

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52-week Range

Market Cap (USDm)

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