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>Paytm raised around US$2.2bn via selling a mix of primary and secondary shares in its IPO.</li>
<li>We have covered various aspects of the deal in our previous notes links to which are below.</li>
<li>In this note, we will talk about the upcoming anchor book lock-up expiry and look at how past IPOs have done around this time period.</li>
</ul>


Paytm raised around US$2.2bn via selling a mix of primary and secondary shares in its IPO.
We have covered various aspects of the deal in our previous notes links to which are below.
In this note, we will talk about the upcoming anchor book lock-up expiry and look at how past IPOs have done around this time period.


Paytm (One 97) - Large Anchor Book Expiry, Prior Listings Have Corrected a Few Days Ahead

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>Germany, the EU's most consequential power, now has a "traffic-lights" coalition government with an ambitious agenda for its structural transformation into a green, digitized economy. </li>
<li>Socially-Liberal policies, including expunging 'race" from the constitution, will allow greater entry of technology professionals, and relatively smooth path toward citizenship, which should attract considerable talent. </li>
<li>With the debt brake absent in 2022, the state railway and development bank will borrow big to fund the investment surge, lowering Germany's current account surplus and boosting Eurozone growth. </li>
</ul>


Germany, the EU's most consequential power, now has a "traffic-lights" coalition government with an ambitious agenda for its structural transformation into a green, digitized economy. 
Socially-Liberal policies, including expunging 'race" from the constitution, will allow greater entry of technology professionals, and relatively smooth path toward citizenship, which should attract considerable talent. 
With the debt brake absent in 2022, the state railway and development bank will borrow big to fund the investment surge, lowering Germany's current account surplus and boosting Eurozone growth. 


Germany: Scholz-Led Traffic-Light Coalition to Redefine Left-Wing Pragmatism

<ul>
<li>Metro Brands (MB), an Indian footwear retailer targeting the economy, mid and premium segments, aims to raise up to US$182m in its India IPO. </li>
<li>As of Sep 21, it operated 598 stores across 136 cities spread across 30 states and union territories in India.</li>
<li>In this note, will look at the company's background and past performance.</li>
</ul>


Metro Brands (MB), an Indian footwear retailer targeting the economy, mid and premium segments, aims to raise up to US$182m in its India IPO. 
As of Sep 21, it operated 598 stores across 136 cities spread across 30 states and union territories in India.
In this note, will look at the company's background and past performance.


Metro Brands IPO - Core Brands Aren’t Growing

<ul>
<li>Star Health and Allied Insurance (SHAI), the largest private health and retail health insurance company in India, plans to raise up to  US$979m in its India IPO.</li>
<li>It is backed by Westbridge and Rakesh Jhunjhunwala. Owing to the latter, it will draw ample retail interest. </li>
<li>In this note, we will talk about the IPO valuations.</li>
</ul>


Star Health and Allied Insurance (SHAI), the largest private health and retail health insurance company in India, plans to raise up to  US$979m in its India IPO.
It is backed by Westbridge and Rakesh Jhunjhunwala. Owing to the latter, it will draw ample retail interest. 
In this note, we will talk about the IPO valuations.


Star Health Insurance IPO - Mixed Updates. Good but Expensive

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>As expected, the December review of the <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX Index (SENSEX INDEX)</a> sees <a href="https://www.smartkarma.com/entities/wipro-ltd" target="_blank" data-smartkarma-citation="entities:15360:1" rel="noopener">Wipro Ltd (WPRO IN)</a> added and <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> deleted.</li>
<li>Buying on Wipro is 2.5 days of ADV and 8.2 days of delivery volume, while selling on Bajaj Auto is 4.5 days of ADV and 8.9 days of delivery volume.</li>
<li>The overweight of the Information Technology sector in the Sensex gets even bigger and the Consumer Discretionary sector gets even more underweighted vs the BSE All Cap Index.</li>
</ul>


As expected, the December review of the S&amp;P BSE SENSEX Index (SENSEX INDEX) sees Wipro Ltd (WPRO IN) added and Bajaj Auto Ltd (BJAUT IN) deleted.
Buying on Wipro is 2.5 days of ADV and 8.2 days of delivery volume, while selling on Bajaj Auto is 4.5 days of ADV and 8.9 days of delivery volume.
The overweight of the Information Technology sector in the Sensex gets even bigger and the Consumer Discretionary sector gets even more underweighted vs the BSE All Cap Index.


SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted

India

Tata Consultancy Services, a division of Tata Sons Limited, is a global IT services organization that provides a comprehensive range of IT services to its clients in diverse industries. The Company, caters to finance and banking, insurance, telecommunication, transportation, retail, manufacturing, pharmaceutical, and utility industries.

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Tata Consultancy Svcs (TCS IN)

Paytm (One 97) - Large Anchor Book Expiry, Prior Listings Have Corrected a Few Days Ahead

Paytm raised around US$2.2bn in its IPO. In this note, we look at the upcoming anchor book lock-up expiry and how other IPOs have done around that...

Sumeet Singh

Germany: Scholz-Led Traffic-Light Coalition to Redefine Left-Wing Pragmatism

The new coalition will borrow in 2022, & invest in a green, digital transformation over the next 5 years. Germany's large current account surplus...

Prasenjit K. Basu

Metro Brands IPO - Core Brands Aren’t Growing

Metro Brands (MB), an Indian footwear retailer targeting the economy, mid and premium segments, aims to raise up to US$182m in its India IPO.

Sumeet Singh

Star Health Insurance IPO - Mixed Updates. Good but Expensive

Star Health and Allied Insurance (SHAI), the largest private health and retail health insurance company in India, plans to raise up to US$979m in...

Sumeet Singh

SENSEX Dec 21 Index Rebalance: Wipro Added, Bajaj Auto Deleted

Wipro will be added to the Sensex in December while Bajaj Auto will be deleted. Impact on both stocks is over 8 days of delivery volume to trade....

Brian Freitas

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52-week Range

Market Cap (USDm)

P/E

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