Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of IPO & Placements for Aequitas Research. At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%. 
Prior to Aequitas. I was heading Content Strategy for Smartkarma, along with covering IPOs & Placement. In an earlier life I have covered ASEAN property and the banking space in India.

Head of Research, IPOs & Placements

Indian Railway Finance Pre-IPO - Low Risk, Low Margin Business

Indian Railway Finance IPO - Low Risk, Low Margin, Low Returns

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Indian Railway Finance Corporation / Equity Capital Markets

Indian Railway Finance Corporation (IRFC IN)

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<p>Indian Railway Finance Corporation (IRFC) raised around US$630m via selling new and existing shares in its Indian IPO.</p>
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<p>IRFC is the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas capital markets. Its primary business is financing the acquisition of rolling stock assets and project assets of the Indian railways and lending to other entities under the Ministry of Railways.</p>
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<div>We have covered various aspects of the deal in our previous notes: </div>
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<ul style="list-style-type: disc;">
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<p><a href="https://www.smartkarma.com/insights/indian-railway-finance-pre-ipo-low-risk-low-margin-business" target="_blank" rel="noopener">Indian Railway Finance Pre-IPO - Low risk, low margin business</a></p>
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<li dir="ltr"><a href="https://www.smartkarma.com/insights/indian-railway-finance-ipo-low-risk-low-margin-low-returns" target="_blank" rel="noopener">Indian Railway Finance IPO - Low Risk, Low Margin, Low Returns</a></li>
</ul>
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<p>In this note, we’ll talk about the updates for the deal and provide a table with implied valuations at different share price levels.</p>
</div>


Indian Railway Finance Corporation (IRFC) raised around US$630m via selling new and existing shares in its Indian IPO.


IRFC is the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas capital markets. Its primary business is financing the acquisition of rolling stock assets and project assets of the Indian railways and lending to other entities under the Ministry of Railways.

We have covered various aspects of the deal in our previous notes: 



Indian Railway Finance Pre-IPO - Low risk, low margin business

Indian Railway Finance IPO - Low Risk, Low Margin, Low Returns



In this note, we’ll talk about the updates for the deal and provide a table with implied valuations at different share price levels.


Indian Railway Finance IPO Trading - Not a Bad Subscription Result