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/bundl-technologies-private-limited-swiggy" target="_blank" data-smartkarma-citation="entities:35630:1" rel="noopener">Swiggy</a> Limited raised around US$1.35bn in its India IPO, although the demand wasn't great.</li>
<li>Swiggy Limited is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>In our previous notes, we looked at the company’s past performance and valuations. In this note, we will talk about the trading dynamics.</li>
</ul>



Swiggy Limited raised around US$1.35bn in its India IPO, although the demand wasn't great.
Swiggy Limited is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
In our previous notes, we looked at the company’s past performance and valuations. In this note, we will talk about the trading dynamics.


Swiggy IPO Trading - Decent Anchor but Tepid Overall Demand

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

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

Equity Bottom-Up

<ul>
<li>We continue our earnings coverage highlighting key earnings and what catches our attention in the conference calls.</li>
<li>Names in this auto-focused edition include <a href="https://www.smartkarma.com/entities/mahindra-mahindra-ltd" target="_blank" data-smartkarma-citation="entities:16441:1" rel="noopener">Mahindra &amp; Mahindra (MM IN)</a>, <a href="https://www.smartkarma.com/entities/maruti-suzuki-india-ltd" target="_blank" data-smartkarma-citation="entities:733:1" rel="noopener">Maruti Suzuki India (MSIL IN)</a>, <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a>, <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> .</li>
<li>Bearish names include <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> , <a href="https://www.smartkarma.com/entities/escorts-kubota-ltd" target="_blank" data-smartkarma-citation="entities:6773:1" rel="noopener">Escorts Kubota Limited (ESCORTS IN)</a> and <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> as a potential name to be bullish on.</li>
</ul>


We continue our earnings coverage highlighting key earnings and what catches our attention in the conference calls.
Names in this auto-focused edition include Mahindra &amp; Mahindra (MM IN), Maruti Suzuki India (MSIL IN), Ola Electric (OLAELEC IN), Tata Motors Ltd (TTMT IN) .
Bearish names include Tata Motors Ltd (TTMT IN) , Escorts Kubota Limited (ESCORTS IN) and Ola Electric (OLAELEC IN) as a potential name to be bullish on.


Namaste India 🙏 | Earnings Edition - Autos

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/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor (600104 CH)</a>'s  49% subsidiary, JSW MG Motor India, reported that its newly launched MG Windsor EV become the best-selling passenger electric vehicle in India for October.</li>
<li>The MG Windsor EV is driving strong sales in the New Energy Vehicle (NEV) segment, thanks to its innovative Battery-as-a-Service (BaaS) option, which significantly reduces the upfront cost for buyers.</li>
<li>By offering BaaS, JSW MG Motor makes switching to EVs more appealing, as the program decouples the battery cost from the vehicle, enabling a direct comparison with comparable ICE models.</li>
</ul>



SAIC Motor (600104 CH)'s  49% subsidiary, JSW MG Motor India, reported that its newly launched MG Windsor EV become the best-selling passenger electric vehicle in India for October.
The MG Windsor EV is driving strong sales in the New Energy Vehicle (NEV) segment, thanks to its innovative Battery-as-a-Service (BaaS) option, which significantly reduces the upfront cost for buyers.
By offering BaaS, JSW MG Motor makes switching to EVs more appealing, as the program decouples the battery cost from the vehicle, enabling a direct comparison with comparable ICE models.


SAIC Motor (600104 CH): India Sub JSW MG Motor Drives EV Surge with Battery-As-A-Service

<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> is looking to raise around US$1.35bn in its India IPO.</li>
<li>Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.</li>
</ul>



Swiggy is looking to raise around US$1.35bn in its India IPO.
Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.


<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> is planning to raise around US$1.25bn through its upcoming India IPO.</li>
<li>Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.</li>
<li>We have looked at the company’s past performance in our earlier notes. In this note, we undertake a peer comparison.</li>
</ul>



Swiggy is planning to raise around US$1.25bn through its upcoming India IPO.
Swiggy Limited (Swiggy) is a business to commerce (B2C) marketplace company offering users a platform for ordering grocery and household items (Instamart) and food delivery, through its on-demand delivery network.
We have looked at the company’s past performance in our earlier notes. In this note, we undertake a peer comparison.


Swiggy Pre-IPO - Peer Comparison - Smaller, Slower and Less Profitable

India

Tata Motors Limited manufactures cars and commercial automotive vehicles in India. The Company designs, manufactures and sells heavy commercial, medium commercial and small commercial vehicles including trucks, tankers, vans, buses, ambulances and minibuses. Tata also manufactures small cars and sports utility vehicles.

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Tata Motors DVR (TTMT/A IN)

Swiggy IPO Trading - Decent Anchor but Tepid Overall Demand

Swiggy Limited raised around US$1.35bn in its India IPO, although the demand wasn't great with only instis having some interest in the listing.

Sumeet Singh

Namaste India 🙏 | Earnings Edition - Autos

We highlight key earnings and call takeaways from companies like Mahindra & Mahindra, Maruti Suzuki India, Ola Electric, and Tata Motors.

Pranav Bhavsar

SAIC Motor (600104 CH): India Sub JSW MG Motor Drives EV Surge with Battery-As-A-Service

BaaS can be a game changer in EV adoption. By separating the cost of battery from the vehicle itself, it allows buyers to focus on the true cost...

Devi Subhakesan

Swiggy IPO - Not as Cheap as It Looks

Swiggy is looking to raise around US$1.35bn in its India IPO. We have looked at its past performance earlier. In this note, we talk about valuations.

Sumeet Singh

Swiggy Pre-IPO - Peer Comparison - Smaller, Slower and Less Profitable

Swiggy is planning to raise around US$1.25bn through its upcoming India IPO. In this note, we undertake a peer comparison.

Sumeet Singh

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