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>Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank.</li>
<li>Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.</li>
<li>We have covered various aspects of the deal in our earlier notes. In this note, we talk about the demand and trading dynamics. </li>
</ul>


Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank.
Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.
We have covered various aspects of the deal in our earlier notes. In this note, we talk about the demand and trading dynamics. 


Delhivery IPO Trading - Anchor Book Was Good but Overall Demand Was Still Tepid

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

United Parcel Service Cl B / Equity Capital Markets

<ul><li>UPS had a decent start to 2022 with the quarterly result indicating a rise in revenue and operating profit, and the expansion of operating margin.</li><li>The previous quarter was challenging because the business of international small businesses faced year over year tough comparisons.</li><li>This year, UPS will also start the implementation of robotic small sort induction, automated label applications, and automated bagging.</li></ul>

UPS had a decent start to 2022 with the quarterly result indicating a rise in revenue and operating profit, and the expansion of operating margin.The previous quarter was challenging because the business of international small businesses faced year over year tough comparisons.This year, UPS will also start the implementation of robotic small sort induction, automated label applications, and automated bagging.

United Parcel Service Inc.: Financial & Price Forecasts

<ul>
<li>Delhivery is now looking to raise around US$700m in its upcoming India IPO, the company is backed by a host of financial investors, the largest being Softbank</li>
<li>Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.</li>
<li>We have covered various aspects of the deal in our earlier notes. In this note, we talk about valuation. </li>
</ul>


Delhivery is now looking to raise around US$700m in its upcoming India IPO, the company is backed by a host of financial investors, the largest being Softbank
Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.
We have covered various aspects of the deal in our earlier notes. In this note, we talk about valuation. 


Delhivery IPO - Thoughts on Valution, Touch-And-Go

Credit

<ul><li>UPS results exceeded market expectations and the company saw consolidated revenue increasing 15% to $97.3 billion compared to last year.</li><li>Their healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver.</li><li>The management expects to meet their 2023 consolidated revenue and operating margin targets one year ahead of schedule, building on 2021 record results.</li></ul>

UPS results exceeded market expectations and the company saw consolidated revenue increasing 15% to $97.3 billion compared to last year.Their healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver.The management expects to meet their 2023 consolidated revenue and operating margin targets one year ahead of schedule, building on 2021 record results.

<ul><li>UPS has a strong position in an oligopolistic logistics markets and has recently benefitting from healthcare tailwinds.</li><li>Its healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver.</li><li>Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 3.58/ 5.</li></ul>

UPS has a strong position in an oligopolistic logistics markets and has recently benefitting from healthcare tailwinds.Its healthcare portfolio generated more than $8 billion in revenue in 2021 and was a major growth driver.Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 3.58/ 5.

United Parcel Service Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

United Parcel Service, Inc.(UPS) delivers packages and documents throughout the United States and in other countries and territories.  The Company also provides global supply chain services and less-than-truckload transportation, primarily in the U.S. UPS's business consists of integrated air and ground pick-up and delivery network

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United Parcel Service Cl B (UPS US)

Delhivery IPO Trading - Anchor Book Was Good but Overall Demand Was Still Tepid

Delhivery raised around US$680m in its India IPO, the company is backed by a host of financial investors, the largest being Softbank. In this note,...

Sumeet Singh

United Parcel Service Inc.: Financial & Price Forecasts

UPS had a decent start to 2022 with the quarterly result indicating a rise in revenue and operating profit, and the expansion of operating...

Baptista Research

Delhivery IPO - Thoughts on Valution, Touch-And-Go

Delhivery is now looking to raise around US$700m in its upcoming India IPO, the company is backed by a host of financial investors, the largest...

Sumeet Singh

United Parcel Service Inc.: Financial & Price Forecasts

UPS results exceeded market expectations and the company saw consolidated revenue increasing 15% to $97.3 billion compared to last year. Their...

Baptista Research

United Parcel Service Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

UPS has a strong position in an oligopolistic logistics markets and has recently benefitting from healthcare tailwinds. Its healthcare portfolio...

Baptista Research

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