In today’s briefing:
- Ola Electric’s Path to Profitability: Volumes, Cells and PLI
- Asirvad Micro Finance Pre-IPO – Accelerating Profitability Growth but with a Litany of Legal Cases
- Kalpataru Pre-IPO Tearsheet
Ola Electric’s Path to Profitability: Volumes, Cells and PLI
- Investors seem concerned about poor visibility on Ola Electric’s profitability given its aggressive pricing strategy.
- Expect increasing production volumes and the resulting benefits of operating leverage to lead to operating profits, likely by next quarter.
- Integrating in-house manufactured Lithium-ion cells into its two-wheeler EVs from FY2026 and higher Government incentive pay out in FY2025 to drive profit margins further.
Asirvad Micro Finance Pre-IPO – Accelerating Profitability Growth but with a Litany of Legal Cases
- Asirvad Micro Finance Limited (1053198D IN) is looking to raise around US$183m in its upcoming India IPO.
- Asirvad Micro Finance Limited (Asirvad) is a non-banking finance company (NBFC), and a microfinance institution (MFI) offering small loans to low-income women in India.
- In this note, we talk about the company’s historical performance.
Kalpataru Pre-IPO Tearsheet
- Kalpataru Limited (KTARU IN) is looking to raise about US$189m in its upcoming India IPO. The deal will be run by ICICI, JM Fin and Nomura.
- Kalpataru is an integrated real estate development company involved in activities associated with real estate development, including identification and acquisition of land, planning, designing, execution, sales, and marketing of projects.
- It is a prominent real estate developer in the Mumbai Metropolitan Region (MMR) and is present across all micro-markets in MMR, as per an Anarock Report.
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