Daily Brief India: Arvind Fashions, China Vanke , Rubicon Research Limited, Vikran Engineering Limited, NTPC Green Energy Ltd and more

• In this Insight, we highlight industry and company-specific developments based on the annual reports of various companies related to the apparel industry.
• The industry has encountered challenges, primarily due to a slowdown in demand and rising inflation. Most companies are now hoping for a turnaround.
• Companies in Focus Aditya Birla Fashion and Retail Ltd (ABFRL IN), Arvind Fashions (ARVINDFA IN), Vedant Fashions (MANYAVAR IN), Go Fashion India (GOCOLORS IN) and Credo Brands Marketing (CREDO IN).  

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• China Vanke
• Reliance Industries
• West China Cement

• Rubicon Research Limited (1453591D IN) is looking to raise about US$130m in its India IPO.
• It is a pharmaceutical formulations company with an increasing portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States.
• In this note, we talk about the company’s historical performance.

• Vikran Engineering Limited (1635154D IN) is planning to raise about US$119m through its upcoming IPO in India. The lead bookrunners for the deal are Pantomath Limited, Systematix Group.
• Vikran Engineering Limited (VEL) based in Mumbai, operates as an Engineering, Procurement & Construction (EPC) firm, focusing on power, water, and railway infrastructure projects. 
• VEL plans to allocate its funds towards financing the company’s working capital needs and general corporate purposes.

• NTPC Green Energy Ltd (2214556D IN) is looking to raise around US$1.2bn in its upcoming India IPO.
• NTPC Green Energy Limited (NGEL) is a renewable energy public sector enterprise and a wholly owned subsidiary of NTPC Limited, a Maharatna central public sector enterprise (PSU). 
• In this note, we will talk about the positive aspects of the deal.