In today’s briefing:
- Life Insurance Corporation IPO Trading – Demand Shored up by Policyholders, Trading Won’t Be
- Paradeep Phosphates IPO – Operates in a Regulated Industry and Hasn’t Done Much over the past Decade
- Leapmotor Pre-IPO – The Positives – Planned Launches Should Prop up Growth
Life Insurance Corporation IPO Trading – Demand Shored up by Policyholders, Trading Won’t Be
- Government of India (GoI) raised around US$2.7bn via selling a 3.5% stake in Life Insurance Corporation of India (LIC) in its India IPO.
- As of FY21, LIC was the largest life insurer in India with a 64.1% market share in terms of gross written premium (GWP).
- In this note, we will talk about the demand and trading dynamics.
Paradeep Phosphates IPO – Operates in a Regulated Industry and Hasn’t Done Much over the past Decade
- Paradeep Phosphates (75690Z IN) is looking to raise up to US$194m in its India IPO. The IPO will consist of a mix of primary and secondary shares.
- Paradeep Phosphates (PP) is a fertilizer manufacturing company based in India. The firm engages in manufacturing, trading, distribution and sales of a variety of complex fertilizers.
- While profitability improved, margins have fluctuated over the track period. Subsidies provide some downside risk protection from a raw mat price squeeze, however, MRP also limits the firm’s pricing power.
Leapmotor Pre-IPO – The Positives – Planned Launches Should Prop up Growth
- Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
- It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.
- In this note, we talk about the positive aspects of the deal.
Before it’s here, it’s on Smartkarma
