In today’s briefing:
- Oravel Stays (Oyo) Pre-IPO – The Positives – Network Effects Coupled with Industry Tailwinds
- Paradeep Phosphates IPO Trading – Tepid Demand and Anchor Quality Isn’t the Greatest
Oravel Stays (Oyo) Pre-IPO – The Positives – Network Effects Coupled with Industry Tailwinds
- Oyo (1698548D IN) is looking to raise around US$700m in its upcoming India IPO. The IPO will consist of both a primary and secondary portion.
- Oyo runs a digital platform that serves as a hotel and home aggregator between patrons, which include owners and lessors, and customers, such as travelers and guests booking for accommodation.
- As of Mar 2021, Oyo had 157,344 storefronts across more than 35 countries listed on its platform.
Paradeep Phosphates IPO Trading – Tepid Demand and Anchor Quality Isn’t the Greatest
- Paradeep Phosphates raised around US$194m in its India IPO. The IPO consisted of a mix of primary and secondary shares.
- Subscription for PP’s IPO had been tepid and previous deals with similar subscription rates had produced mixed performances upon debut.
- Were the firm to trade towards its closer peers’ average, there is a 5% upside potential and -18.6% downside potential on the FY23E and FY24E EV/EBITDA front, respectively.
Before it’s here, it’s on Smartkarma
