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

Dr Agarwal's Health Care Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dr-agarwal-s-health-care-ltd" target="_blank" data-smartkarma-citation="entities:43984:1" rel="noopener">Dr Agarwal's Health Care Ltd (8140044Z IN)</a> is looking to raise about US$350m in its India IPO. The deal is downsized from an earlier reported size of around US$480m.</li>
<li>Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.</li>
<li>Previously, we have looked at the company’s past performance. In this note, we provide a summary of its RHP updates and share our quick thoughts on peer comparison and valuation.</li>
</ul>



Dr Agarwal's Health Care Ltd (8140044Z IN) is looking to raise about US$350m in its India IPO. The deal is downsized from an earlier reported size of around US$480m.
Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
Previously, we have looked at the company’s past performance. In this note, we provide a summary of its RHP updates and share our quick thoughts on peer comparison and valuation.


Dr Agarwal’s Healthcare IPO - RHP Updates & Quick Thoughts on Peer Comp and Valuation

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>GAIL and BPCL have partnered with Chhattisgarh Biofuel Development Authority to establish compressed biogas plants in six cities, utilizing urban waste for clean energy production, promoting sustainability, and creating jobs.</li>
<li>India’s 2025-26 budget is expected to allocate Rs 30,000 crore to new and renewable energy, with PM Surya Ghar scheme aiming for 50 lakh rooftop solar installations by 2026.</li>
<li>Airtel and Bajaj Finance have partnered to create a digital financial services platform. Initially, Airtel will offer Bajaj Finance’s products via its Airtel Thanks App, expanding to nationwide stores later.</li>
</ul>


GAIL and BPCL have partnered with Chhattisgarh Biofuel Development Authority to establish compressed biogas plants in six cities, utilizing urban waste for clean energy production, promoting sustainability, and creating jobs.
India’s 2025-26 budget is expected to allocate Rs 30,000 crore to new and renewable energy, with PM Surya Ghar scheme aiming for 50 lakh rooftop solar installations by 2026.
Airtel and Bajaj Finance have partnered to create a digital financial services platform. Initially, Airtel will offer Bajaj Finance’s products via its Airtel Thanks App, expanding to nationwide stores later.


#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dr-agarwal-s-health-care-ltd" target="_blank" data-smartkarma-citation="entities:43984:1" rel="noopener">Dr Agarwal's Health Care Ltd (8140044Z IN)</a> is looking to raise about US$480m in its upcoming India IPO.</li>
<li>Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Dr Agarwal's Health Care Ltd (8140044Z IN) is looking to raise about US$480m in its upcoming India IPO.
Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
In this note, we talk about the company’s historical performance.


Dr Agarwal’s Healthcare Pre-IPO - Strong Revenue Growth Led by Expanding Network of Facilities

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>For our analysis, we have considered current NSE500 stocks as our universe. Further, shareholding pattern trends have been observed for last one year period (Q2FY24 to Q2FY25).</li><li>Shareholding changes of various market participant categories have been tracked namely Promoters, FIIs, DIIs and public.</li><li>Observing trends in the reorganization of ownership structure has been the key focus area of this analysis</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

For our analysis, we have considered current NSE500 stocks as our universe. Further, shareholding pattern trends have been observed for last one year period (Q2FY24 to Q2FY25).Shareholding changes of various market participant categories have been tracked namely Promoters, FIIs, DIIs and public.Observing trends in the reorganization of ownership structure has been the key focus area of this analysisContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dixon-technologies-india-ltd" target="_blank" data-smartkarma-citation="entities:25486:1" rel="noopener">Dixon Technologies India Ltd (DIXON IN)</a>  plans to invest $3 billion to establish a display fabrication facility in India, aiming to capitalize on government subsidies and enhance its position.</li>
<li>
<a href="https://www.smartkarma.com/entities/zomato-ltd" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOMATO IN)</a> Quick Commerce Business, Blinkit is rapidly expanding its dark store network in India's competitive quick-commerce market, leading to short-term losses but aiming for long-term gains.</li>
<li>
<a href="https://www.smartkarma.com/entities/hindustan-aeronautics-ltd" target="_blank" data-smartkarma-citation="entities:26747:1" rel="noopener">Hindustan Aeronautics (HNAL IN)</a>  aims delivering 16 LCA Mk1A jets to the IAF by 2025, a history of delays and a recent unconfirmed report raise questions about the program's timeline.</li>
</ul>



Dixon Technologies India Ltd (DIXON IN)  plans to invest $3 billion to establish a display fabrication facility in India, aiming to capitalize on government subsidies and enhance its position.

Zomato (ZOMATO IN) Quick Commerce Business, Blinkit is rapidly expanding its dark store network in India's competitive quick-commerce market, leading to short-term losses but aiming for long-term gains.

Hindustan Aeronautics (HNAL IN)  aims delivering 16 LCA Mk1A jets to the IAF by 2025, a history of delays and a recent unconfirmed report raise questions about the program's timeline.


#90 India Insight: Dixon's $3 Bn Display Fab, Blinkit Expansion Burns Cash, HAL Delays

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)

Dr Agarwal’s Healthcare IPO - RHP Updates & Quick Thoughts on Peer Comp and Valuation

Dr Agarwal’s Healthcare is looking to raise about US$350m in its India IPO. In this note, we provide a summary of its RHP updates and share our...

Akshat Shah

#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...

Sudarshan Bhandari

Dr Agarwal’s Healthcare Pre-IPO - Strong Revenue Growth Led by Expanding Network of Facilities

Dr Agarwal’s Healthcare is looking to raise about US$480m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

#90 India Insight: Dixon's $3 Bn Display Fab, Blinkit Expansion Burns Cash, HAL Delays

Dixon Technologies to invest $3 billion in display facility, Zomato's Blinkit expanding dark store network, HAL aims to deliver 16 LCA jets by...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Dr Agarwal’s Healthcare IPO - RHP Updates & Quick Thoughts on Peer Comp and Valuation

Dr Agarwal’s Healthcare is looking to raise about US$350m in its India IPO. In this note, we provide a summary of its RHP updates and share our...

Akshat Shah

#91 India Insight: GAIL, BPCL Biogas Plants; Airtel, Bajaj Launch ; ₹30k Cr for Renewable Energy

​GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...

Sudarshan Bhandari

Dr Agarwal’s Healthcare Pre-IPO - Strong Revenue Growth Led by Expanding Network of Facilities

Dr Agarwal’s Healthcare is looking to raise about US$480m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Akshat Shah

Share Holding Tracker (Q2FY25)

For our analysis, we have considered current NSE500 stocks as our universe. Further, shareholding pattern trends have been observed for last one...

HDFC Securities

#90 India Insight: Dixon's $3 Bn Display Fab, Blinkit Expansion Burns Cash, HAL Delays

​Dixon Technologies to invest $3 billion in display facility, Zomato's Blinkit expanding dark store network, HAL aims to deliver 16 LCA jets by...

Sudarshan Bhandari

GAIL and BPCL partner with Chhattisgarh for biogas plants, India's budget to allocate Rs 30,000 crore for renewable energy, Airtel and Bajaj...

Dixon Technologies to invest $3 billion in display facility, Zomato's Blinkit expanding dark store network, HAL aims to deliver 16 LCA jets by...