In today’s briefing:
- Auckland Airport Possible Placement – Will Be Very Well Flagged US$540m Block
- SBFC Finance Pre-IPO – Has Grown Fast While Maintaining Asset Quality
- Tata Technologies Pre-IPO – Peer Comparison – Middling
Auckland Airport Possible Placement – Will Be Very Well Flagged US$540m Block
- Auckland City Council plans to sell 7% of Auckland Intl Airport (AIA NZ) to fund its budget requirements for 2023-24.
- Auckland City Mayor has been talking about selling the stake since at least Dec 2022 and hence, the deal is already very well flagged.
- In this note, we will talk about the possible placement and other deal dynamics.
SBFC Finance Pre-IPO – Has Grown Fast While Maintaining Asset Quality
- SBFC Finance Limited (1547353D IN) is looking to raise up to US$145m in its upcoming India IPO.
- SBFC Finance is a systematically important, non-deposit taking non-banking finance company (NBFC-ND-SI), offering secured MSME Loans and Loans against Gold.
- Even through COVID-19, it had managed to more than double its AUM through its branch expansion efforts. However, its NIM declined over the track record period and profitability growth slowed.
Tata Technologies Pre-IPO – Peer Comparison – Middling
- Tata Technologies (TATATECH IN) (TT) is looking to raise around US$600m in its upcoming India IPO.
- Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers.
- We have looked at the company’s past performance in our earlier notes, in this note we will undertake a peer comparison.
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