In today’s briefing:
- WM Motor Holding IPO – The Negatives – Has Ample Issues to Contend With
- Balaji Speciality Chemicals Pre-IPO Tearsheet
WM Motor Holding IPO – The Negatives – Has Ample Issues to Contend With
- WM Motor Technology Co Ltd (WMT CH) (WMM) is looking to raise about US$1bn in its upcoming Hong Kong IPO.
- WM Motor is a smart EV player in China. As of the latest practicable date, it had a total of four main EV models.
- In this note, we talk about the not-so-positive aspects of the deal.
Balaji Speciality Chemicals Pre-IPO Tearsheet
- Balaji Speciality Chemicals (1742663D IN) is looking to raise about US$126m in its upcoming India IPO. The deal will be run by JM Financial and HDFC Bank.
- Balaji Speciality Chemicals (BSC) is the sole manufacturer in India of niche chemicals such as Ethylenediamine, Piperazine (Anhydrous), Diethylenetriamine, Amino Ethyl Ethanol Amines and Amino Ethyl Piperazine, according to CRISIL.
- The chemicals it manufactures are import substitutes and are used in end-use industries such as speciality chemicals. Its customer base grew from 45 in FY20 to 182 in FY22.
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