In today’s briefing:
- Vishnu Prakash R Punglia Ltd IPO- Forensic Analysis
- Cello World Pre-IPO Tearsheet
- India Industrials | Quarterly Update – ABB India, Siemens, Polycab and Havells
- JSW Infra Pre-IPO – The Negatives – Fees Rose Quicker than Escalations. High Related Party Dealings
Vishnu Prakash R Punglia Ltd IPO- Forensic Analysis
- Vishnu Prakash R Punglia (1636911D IN) IPO has opened for subscription.
- The company operates in the EPC space with a prominence in Water Supply Projects and a strong geographic presence in Rajasthan.
- The financials of the company should be looked at carefully, especially given the fact that margins are boosted by inventory, and there are plenty of RPT with the promoters.
Cello World Pre-IPO Tearsheet
- Cello World Limited (CW IN) is looking to raise around US$210m in its upcoming India IPO. The bookrunners on the deal are Kotak, JM Financial, ICICI, IIFL, and Motilal Oswal.
- Cello World (CW) is an Indian consumer products company. The firm is a leading company in the consumerware market in India.
- According to the Technopak Report, the firm’s consumer houseware, writing instruments and stationery, and moulded furniture and allied products categories are amongst the largest brands in the Indian consumerware market.
India Industrials | Quarterly Update – ABB India, Siemens, Polycab and Havells
- In this Insight, we review the recent performance of ABB India Ltd (ABB IN), Siemens Ltd (SIEM IN), Polycab India (POLYCAB IN) and Havells India (HAVL IN)
- Most companies have performed in line with our expectations, except for Polycab, which has exceeded our performance expectations.
- We continue to favour ABB over Siemens (ABB/SIEM), Polycab over Havells (POLYCAB/HAVL)
JSW Infra Pre-IPO – The Negatives – Fees Rose Quicker than Escalations. High Related Party Dealings
- JSW Infrastructure (5978490Z IN) is looking to raise around US$340m in its upcoming India IPO.
- JSW Infrastructure (JSWI) is the fastest growing port-related infrastructure company in terms of growth in installed cargo handling capacity and cargo volumes handled during FY20 to FY22, according to CRISIL.
- In this note, we will talk about the not so positive aspects of the deal.
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