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

Varroc Engineering IPO: Too Volatile for Comfort

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Varroc Engineering Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27172" target="_blank" data-smartkarma-citation="entities:27172:1">Varroc Engineering Ltd (934734Z IN)</a> plans to raise around US$290m in its IPO via a selldown of secondary shares.The company is one of the largest global players in the automotive lighting business and one of the leading suppliers for 2-3 wheeler markets in India. While its Indian business has mostly been built organically, its international business has been stitched together through various acquisitions. In effect, the company is essentially two different entities with the business in India being very different from the business outside of India and thus, it should be valued as such.

Varroc Engineering Ltd (934734Z IN) plans to raise around US$290m in its IPO via a selldown of secondary shares.The company is one of the largest global players in the automotive lighting business and one of the leading suppliers for 2-3 wheeler markets in India. While its Indian business has mostly been built organically, its international business has been stitched together through various acquisitions. In effect, the company is essentially two different entities with the business in India being very different from the business outside of India and thus, it should be valued as such. 

Varroc Engineering Limited IPO - A Mixed Bag, in More Ways that One