In today’s briefing:
- DAM Capital IPO Review: India’s Fastest-Growing Merchant Bank
- Ventive Hospitality IPO – Quick Thoughts on Peer Comp and Valuation
- Continuum Green Energy Pre-IPO Tearsheet
DAM Capital IPO Review: India’s Fastest-Growing Merchant Bank
- DAM Capital (930970Z IN) is the fastest growing merchant banker in last 3 years between 2022-24.
- DAM Capital is pure-play merchant banker and institutional equity business, delivering high growth and margins compared to its peers.
- Since 2019, DAM completed 27 IPOs, 16 QIPs, 6 OFS, 6 Preferential issues, 4 rights issues, 8 buybacks, 4 open offers, and 1 REIT IPO.
Ventive Hospitality IPO – Quick Thoughts on Peer Comp and Valuation
- Ventive Hospitality Ltd (0807075D IN) is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares, is downsized from an earlier size of ~US$240m.
- Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.
- We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.
Continuum Green Energy Pre-IPO Tearsheet
- Continuum Green Energy Ltd (1580973D IN) is looking to raise about US$430m in its upcoming India IPO. The deal will be run by Kotak, Ambit, Citi and JM Fin.
- Continuum Green Energy Limited is an independent power producer with over 14 years of experience in identifying, developing, constructing and operating renewable energy projects in India.
- It acquired its first 16.50 MW wind project in 2010 and has grown its portfolio to a total operational and under-construction capacity of 3.52 GWp, as of Dec 9, 2024.
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