In today’s briefing:
- Ola Electric IPO: Forecasts and Valuation
- Akums Drugs and Pharmaceuticals IPO Trading – Strong Demand and a Decent Margin of Safety
- MDL Wholesale Pre-IPO Tearsheet
- Saint Bella IPO: Growth Story Intact, A First-Mover Advantage in Postpartum Care Market in China
Ola Electric IPO: Forecasts and Valuation
- Ola Electric (1700674D IN) plans to raise INR55bn through fresh issue of shares while existing shareholders will offer 84.9m shares at an indicative IPO price band of INR72-76 per share.
- We expect the company’s revenues to continue to expand and grow at much higher rates during the next few years compared to competitors in the Indian two-wheeler market.
- Our valuation analysis suggests that Ola Electric’s IPO is attractively priced compared to peers and we would suggest subscribing for the company’s IPO.
Akums Drugs and Pharmaceuticals IPO Trading – Strong Demand and a Decent Margin of Safety
- Akums Drugs and Pharmaceuticals (0200361D IN) raised around US$222m in its India IPO, after pricing the deal at the top end of the range at INR679/share.
- Akums Drugs and Pharmaceuticals (ADP) is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas.
- We have looked at various aspects of the deal in our previous notes. In this note, we talk about demand and trading dynamics.
MDL Wholesale Pre-IPO Tearsheet
- MDL Wholesale (WMHGCZ CH) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by UBS, CMS, CMBI, Deutsche Bank, BOCI, and China Galaxy.
- MDL Wholesale is a leading food and FMCG distribution solution provider in China, providing a broad range of customers and retailers with high-quality merchandise and convenient solutions
- Its solutions mainly include (i) food service and distribution, (ii) welfare and gifting, (iii) retailer distribution (comprising product sales to retailers and supply chain services) and (iv) merchandise wholesale.
Saint Bella IPO: Growth Story Intact, A First-Mover Advantage in Postpartum Care Market in China
- Saint Bella, a premium postpartum care service provider, filed to go public in Hong Kong. UBS and CITIC Securities are leading the offering.
- Saint Bella operates ultra-premium postpartum centers in Asia, which are located at luxury hotels and detached villas. The company opened its first postpartum center in Hangzhou in 2017.
- With strong multi-brand strategy and asset-light business model, Saint Bella is uniquely positioned in premium segment under Saint Bella, Bella Isla and Baby Bella brands.
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