APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

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

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> is looking to raise about US$255m in its upcoming India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



Belrise Industries (9156339Z IN) is looking to raise about US$255m in its upcoming India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Contemporary Amperex Technology (CATL) / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology (CATL) (300750 CH)</a> and <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a> will remain in the spotlight in the coming week as well.</li>
<li>On the placements front, Japan deals appear to be picking up again.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, Contemporary Amperex Technology (CATL) (300750 CH) and Jiangsu Hengrui Medicine (600276 CH) will remain in the spotlight in the coming week as well.
On the placements front, Japan deals appear to be picking up again.


ECM Weekly (19 May 2025) - CATL, Hengrui, Green Tea, SMPP, Unisound, Renesas, Genda, GMO, PayTM

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/welspun-india-ltd" target="_blank" data-smartkarma-citation="entities:9284:1" rel="noopener">Welspun India (WLSI IN)</a> plans to expand Sintex’s market presence, targeting 5% share in pipes within 7 years, with substantial investment.</li>
<li>US-China tariff cuts could reduce India’s export advantage, but sectors like pharma and IT can benefit from shifts.</li>
<li>India's retail inflation drops to 3.16% in April from 3.34% in March, driven by falling food prices.</li>
</ul>



Welspun India (WLSI IN) plans to expand Sintex’s market presence, targeting 5% share in pipes within 7 years, with substantial investment.
US-China tariff cuts could reduce India’s export advantage, but sectors like pharma and IT can benefit from shifts.
India's retail inflation drops to 3.16% in April from 3.34% in March, driven by falling food prices.


#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> is looking to raise about US$255m in its upcoming India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Belrise Industries (9156339Z IN) is looking to raise about US$255m in its upcoming India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
In this note, we talk about the company’s historical performance.


Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

<ul>
<li>Starlink receives DoT approval for satellite internet in India, partnering with Jio and Airtel, targeting rural and remote areas.</li>
<li>NSE receives Sebi’s in-principle approval to launch electricity derivatives. Discussions on contract structure and tenure are ongoing.</li>
<li>Grant Thornton identifies 25 <a href="https://www.smartkarma.com/entities/indusind-bank-ltd" target="_blank" data-smartkarma-citation="entities:1558:1" rel="noopener">Indusind Bank (IIB IN)</a> staff involved in accounting lapses. Some may be retained, others face termination.</li>
</ul>


Starlink receives DoT approval for satellite internet in India, partnering with Jio and Airtel, targeting rural and remote areas.
NSE receives Sebi’s in-principle approval to launch electricity derivatives. Discussions on contract structure and tenure are ongoing.
Grant Thornton identifies 25 Indusind Bank (IIB IN) staff involved in accounting lapses. Some may be retained, others face termination.


#143 India Insight: DoT Clears Starlink, NSE Eyes Power Trade, IndusInd Staff Under Probe

India

Bharti Airtel Limited, a part of Bharti Enterprises, provides telecommunications services throughout India. The Company provides GSM Mobile Services, broadband, fixed line telephone services, long distance services (international & national) and enterprise services.

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Bharti Airtel (BHARTI IN)

Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Belrise Industries Limited is looking to raise about US$252m in its upcoming India IPO. In this note, we will talk about the IPO valuations.

Akshat Shah

ECM Weekly (19 May 2025) - CATL, Hengrui, Green Tea, SMPP, Unisound, Renesas, Genda, GMO, PayTM

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

Sudarshan Bhandari

#143 India Insight: DoT Clears Starlink, NSE Eyes Power Trade, IndusInd Staff Under Probe

Starlink partners with Jio and Airtel for satellite internet in rural India, NSE gets approval for electricity derivatives, Grant Thornton...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Belrise Industries Limited is looking to raise about US$252m in its upcoming India IPO. In this note, we will talk about the IPO valuations.

Akshat Shah

ECM Weekly (19 May 2025) - CATL, Hengrui, Green Tea, SMPP, Unisound, Renesas, Genda, GMO, PayTM

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

#146 India Insight: Welspun Eyes 5% in Pipes; Inflation Dips; Tariff Cuts May Aid IT, Pharma.

​Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

Sudarshan Bhandari

Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks

Belrise Industries Limited is looking to raise about US$255m in its upcoming India IPO. In this note, we talk about the company’s historical...

Akshat Shah

#143 India Insight: DoT Clears Starlink, NSE Eyes Power Trade, IndusInd Staff Under Probe

​Starlink partners with Jio and Airtel for satellite internet in rural India, NSE gets approval for electricity derivatives, Grant Thornton...

Sudarshan Bhandari

Welspun India aims to grow Sintex's market share in pipes, while India's retail inflation drops in April and US-China tariff cuts may impact exports.

Starlink partners with Jio and Airtel for satellite internet in rural India, NSE gets approval for electricity derivatives, Grant Thornton...