In today’s briefing:
- Ola Electric IPO Trading – Decent Anchor, Tepid Overall Demand
- Paras Healthcare Pre-IPO Tearsheet
- Suraksha Diagnostic Pre-IPO Tearsheet
- WeRide (WRD US) IPO: The Bull Case
Ola Electric IPO Trading – Decent Anchor, Tepid Overall Demand
- Ola Electric managed to raise around US$734m in its India IPO.
- Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells
- In our previous notes, we looked at the company’s past performance and valuations. In this note, we talk about the trading dynamics.
Paras Healthcare Pre-IPO Tearsheet
- Paras Healthcare Limited (0490145D IN) is looking to raise about US$180m in its upcoming India IPO. The deal will be run by ICICI, IIFL and Motilal Oswal.
- Paras Healthcare is the fifth largest healthcare provider, in terms of bed capacity in North India, Bihar and Jharkhand, with an aggregate of 2,135 beds, as of March 31, 2024.
- The company offers several clinical specialties across its hospitals including cardiac sciences, oncology, neuro sciences, gastro sciences and orthopedics and joint replacement.
Suraksha Diagnostic Pre-IPO Tearsheet
- Suraksha Diagnostic (1481262D IN) is looking to raise up to US$230m in its upcoming India IPO. The deal will be run by ICICI Securities, Nuvama Wealth and SBI Capital.
- Suraksha Diagnostic is a full-service and integrated diagnostic chain. It offers a one-stop integrated solution for pathology and radiology testing, and medical consultation services to its customers.
- It has flagship central reference laboratory, eight satellite laboratories and 194 customer touchpoints, and 146 sample collection centres (primarily franchised) as of FY24, across certain states of India.
WeRide (WRD US) IPO: The Bull Case
- WeRide (WRD US), a provider of autonomous driving products and services, seeks to raise between US$200 to US$300 million through a Nasdaq IPO.
- WeRide is the most commercially successful L4 autonomous driving company globally, measured by commercialization revenue in 2021, 2022 and 2023.
- The bull case rests on a large TAM, strong product capabilities, near-term mass commercialization, articulation of a path to profitability, improving earnings quality and presence of blue-chip investors.
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