In today’s briefing:
- Mr DIY Indonesia IPO Trading – Recent Indo Listings Trade with Limited Liquidity
- Travel Food Services Ltd Pre-IPO Tearsheet
- Bloks Group IPO: PHIP Updates, Revenue Continues To Post Hyper Growth As IPO Nears
- Paras Healthcare Pre-IPO: Increasing Efficiency but Patients Are Spending Less
- Pre-IPO HealthyWay (PHIP Updates) – Some Points Worth the Attention
Mr DIY Indonesia IPO Trading – Recent Indo Listings Trade with Limited Liquidity
- PT Daya Intiguna Yasa Tbk (Mr DIY Indonesia) (2517930D IJ) raised US$296m from its Indonesia IPO.
- Mr DIY Indonesia (MRDIYI) is a home improvement retailer. The entity is the Indonesian entity under the Mr DIY group’s list of subsidiaries.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.
Travel Food Services Ltd Pre-IPO Tearsheet
- Travel Food Services Ltd (1450229D IN) (TFS) is planning to raise about US$236m in its upcoming India IPO. The lead bookrunners for the deal are Kotak, HSBC, ICICI, B&K.
- The company was established in 2009 and operates in the airport travel quick-service restaurant (Travel QSR) and lounge sectors.
- TFS holds a market share of 24% in the Indian airport travel QSR sector based on revenue for FY24, according to CRISIL Report.
Bloks Group IPO: PHIP Updates, Revenue Continues To Post Hyper Growth As IPO Nears
- Bloks Group, a founder-led leader in China’s assembly character toy segment, updated its PHIP and continued to post hyper growth.
- In the nine months ended Sep-24, the company’s revenue totaled ~RMB1629m, representing a y/y growth of ~177%, due to significant increase in product sales volume.
- According to the most recent PHIP, Ultraman IP license in China was extended to 2027 and TRANSFORMERS IP license with Hasbro will expire only in 2028.
Paras Healthcare Pre-IPO: Increasing Efficiency but Patients Are Spending Less
- Paras Healthcare Limited (0490145D IN) is looking to raise up to US$180m in its upcoming India IPO.
- It is the fifth largest healthcare provider in India with a core focus on providing affordable and quality, specialized tertiary medical care in Tier 2 and 3 cities.
- In this note, we look at the firm’s past performance.
Pre-IPO HealthyWay (PHIP Updates) – Some Points Worth the Attention
- The two core businesses is corporate and digital marketing services (2B business) and health and medical services (2C business),the synergy of which can form a virtuous cycle within the platform.
- The key performance driver for HealthWay is 2B business, but the pain point is 2C business, which is hard to scale up. Actually, HealthyWay’s growth momentum has slowed down significantly.
- After completing the final round of financing, HealthyWay’s valuation reached RMB4.1 billion. We think its valuation could be higher than ClouDr but lower than JD Health and Alibaba Health.
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