In today’s briefing:
- Zeekr IPO Trading – Not as Cheap as It Looks but Float Is Tiny
- Aadhar Housing Finance IPO | Takeaways from Branch Visits
- Indegene IPO Trading – High Anchor Quality + Strong Demand, Expect a Pop on Debut
Zeekr IPO Trading – Not as Cheap as It Looks but Float Is Tiny
- ZEEKR (ZK US), a premium EV brand by Geely, raised around US$440m in its US listing, after the deal was upsized and priced at the top.
- Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
- We have looked at the company’s past performance and provided our thoughts on valuations in our earlier notes. In this note, we talk about the trading dynamics.
Aadhar Housing Finance IPO | Takeaways from Branch Visits
- Branches visited – Ajmer, Bengaluru, Mandya, Mysuru, Jaipur, Solapur, Pimpri and Pune.
- Business growth is driven by taking calls that peers are reluctant to take with regards to property and incomes.
- Lack of team and increasing competition are primary concerns that also warrant attention.
Indegene IPO Trading – High Anchor Quality + Strong Demand, Expect a Pop on Debut
- Indegene Limited (1864095D IN) raised around US$220m in its India IPO, via selling a mix of primary and secondary shares.
- Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.
- We had looked at the firm’s past performance and shared our thoughts on Indegene’s valuation in earlier notes. In this note, we will look at the trading dynamics.
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