IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Cisarua Mountain Dairy (Cimory) IPO: Valuation Insights

Cisarua Mountain Dairy (Cimory) IPO - A Legend in Dairy

Cisarua Mountain Dairy (Cimory) IPO Initiation: Creamy

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Cisarua Mountain Dairy / Equity Capital Markets

<ul>
<li>In <a href="https://www.smartkarma.com/insights/cisarua-mountain-dairy-cimory-ipo-initiation-creamy" target="_blank" data-smartkarma-citation="insights:61066" rel="noopener">Cisarua Mountain Dairy (Cimory) IPO Initiation: Creamy</a>, we noted Cimory is delivering strong growth in both its operating segments, rising margins and cash generation.</li>
<li>In <a href="https://www.smartkarma.com/insights/cisarua-mountain-dairy-cimory-ipo-valuation-insights" target="_blank" data-smartkarma-citation="insights:61144" rel="noopener">Cisarua Mountain Dairy (Cimory) IPO: Valuation Insights</a>, we noted that we would participate at the low end of the IPO price range of IDR2,780-3,160 per share.</li>
<li>It priced its IPO at IDR3,080.00 per share. Our DCF value of IDR3,331.04 per share is an 8% upside to the IPO price. The IPO price is fair but full.</li>
</ul>


In Cisarua Mountain Dairy (Cimory) IPO Initiation: Creamy, we noted Cimory is delivering strong growth in both its operating segments, rising margins and cash generation.
In Cisarua Mountain Dairy (Cimory) IPO: Valuation Insights, we noted that we would participate at the low end of the IPO price range of IDR2,780-3,160 per share.
It priced its IPO at IDR3,080.00 per share. Our DCF value of IDR3,331.04 per share is an 8% upside to the IPO price. The IPO price is fair but full.


Cisarua Mountain Dairy (Cimory) IPO: Trading Debut