In today’s briefing:
- Tata Technologies IPO Lockup Expiry – US$1.5bn Lockup Release, Some Funds Are Sitting on 40x Gains
- Allied Blenders and Distillers Pre-IPO – Refiling Updates and Initial Thoughts on Valuation
Tata Technologies IPO Lockup Expiry – US$1.5bn Lockup Release, Some Funds Are Sitting on 40x Gains
- Tata Technologies (TT) raised around US$370m in its India IPO in Dec 2023.
- Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers.
- In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.
Allied Blenders and Distillers Pre-IPO – Refiling Updates and Initial Thoughts on Valuation
- Allied Blenders & Distillers (9844250Z IN) is looking to raise about US$180m in its upcoming India IPO.
- ABD is the largest Indian-owned Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between FY14 and FY22.
- In this note, we provide a summary of its refiling updates, undertake a quick peer comparison and share our initial thoughts on valuation.
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