In today’s briefing:
- Tata Technologies Pre-IPO – RHP Updates – Headline Growth Picking Up
- Max Healthcare (MAXHEALTH IN): Robust Financial Performance in Q2; Expansion Projects Are On Track
- Jana Small Finance Bank Pre-IPO – Has Grown Decently Fast but Keep an Eye on Its CRAR
![](http://www.smartkarma.com/assets/plugins/a3-lazy-load/assets/images/lazy_placeholder.gif)
Tata Technologies Pre-IPO – RHP Updates – Headline Growth Picking Up
- Tata Technologies (TATATECH IN) (TT) is looking to raise around US$370m in its upcoming India IPO.
- 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.
- We have looked at the company’s past performance and undertaken a peer comparison and provided our initial thoughts on valutions. In this note we talk about the RHP updates.
Max Healthcare (MAXHEALTH IN): Robust Financial Performance in Q2; Expansion Projects Are On Track
- In Q2FY24, Max Healthcare Institute (MAXHEALT IN) reported revenue growth of 17% YoY and 6% QoQ to INR18.3B, driven by higher ARPOB and occupied bed days.
- EBITDA grew 21% YoY and 14% QoQ to INR4.5B, leading to a 100 basis point YoY and 190 basis point QoQ margin expansion to 28.7%.
- MHIL expect greenfield 300 bed hospital in Dwarka, South-west Delhi will be commissioned in later half of Q4FY24. It was originally expected to be commissioned in Q2FY24.
Jana Small Finance Bank Pre-IPO – Has Grown Decently Fast but Keep an Eye on Its CRAR
- Jana Small Finance Bank (3667144Z IN) is looking to raise at least US$100m in its upcoming India IPO.
- Jana Small Finance Bank (JSFB) is the fourth largest small finance bank in India in terms of AUM and deposit size as of FY23 (Year ended 31st Mar 2023).
- JSFB has grown its number of banking outlets and amount of deposits fast, which allowed the firm to grow its gross advances by 1.5x over the track record period.