Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Bajaj Housing Finance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bajaj-housing-finance" target="_blank" data-smartkarma-citation="entities:43675:1" rel="noopener">Bajaj Housing Finance (BHF IN)</a> is looking to raise around US$800m in its India IPO.</li>
<li>BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.</li>
</ul>



Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO.
BHF is a non-deposit taking housing finance company engaged in mortgage lending since FY18. Its mortgage products include home loans, loans against property, lease rental discounting and developer financing.
In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.


Bajaj Housing Finance IPO - Will Trade at a Premium

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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>SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. </li>
<li>As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.</li>
<li>This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.</li>
</ul>


SEBI has overhauled F&amp;O eligibility criteria, introducing stricter norms for stock inclusion and exclusion for more active stocks. 
As per calculation, New criteria will include 80 stocks and exclude 18 to 23, impacting market liquidity and stability.
This will lead to the creation of a more robust, transparent, and liquid for the F&amp;O Market.


SEBI's F&O Criteria Revision & Its Impact

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>We see four expected ADDs/DELs for BSE 100 and six expected ADDs/DELs for BSE 200.</li>
<li>The BSE 100 handling rules for names <em>without</em> futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could fall into such a trap.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
We see four expected ADDs/DELs for BSE 100 and six expected ADDs/DELs for BSE 200.
The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could fall into such a trap.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

ACME Solar Holdings / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/acme-solar-holdings" target="_blank" data-smartkarma-citation="entities:43723:1" rel="noopener">ACME Solar Holdings (1700918D IN)</a> is looking to raise US$360m in its upcoming India IPO. </li>
<li>ACME Solar (ACME) is a renewable energy firm with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



ACME Solar Holdings (1700918D IN) is looking to raise US$360m in its upcoming India IPO. 
ACME Solar (ACME) is a renewable energy firm with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects.
In this note, we talk about the company’s historical performance.


ACME Solar Holdings - Strong Sector Tailwinds but Need to Keep an Eye on Profitability

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>ONGC, Oil India to Price New Gas at 20% Premium over the APM price.</li>
<li>JSW Steel buys a 66.67% stake in M Res NSW for $120 million.</li>
<li>Adani Green Energy aims for a 30% CAGR in renewable capacity.</li>
</ul>


ONGC, Oil India to Price New Gas at 20% Premium over the APM price.
JSW Steel buys a 66.67% stake in M Res NSW for $120 million.
Adani Green Energy aims for a 30% CAGR in renewable capacity.


# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

India

Adani Green Energy Limited operates as a producer of renewable energy. The Company builds, owns, and operates power plants for solar and wind energy. Adani Green Energy serves customers worldwide.


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Adani Green Energy (ADANIGR IN)

Bajaj Housing Finance IPO - Will Trade at a Premium

Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO. In this note, we talk about the IPO valuation.

Sumeet Singh

SEBI's F&O Criteria Revision & Its Impact

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Quiddity Leaderboard BSE/SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

Zomato does not have F&O membership and it could violate a BSE Sensex Next 50 selection rule which would trigger a BSE 100 deletion. To escape...

Janaghan Jeyakumar, CFA

ACME Solar Holdings - Strong Sector Tailwinds but Need to Keep an Eye on Profitability

ACME Solar Holdings (1700918D IN) is looking to raise US$360m in its upcoming India IPO. In this note, we talk about the company’s historical...

Ethan Aw

# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bajaj Housing Finance IPO - Will Trade at a Premium

Bajaj Housing Finance (BHF IN) is looking to raise around US$800m in its India IPO. In this note, we talk about the IPO valuation.

Sumeet Singh

SEBI's F&O Criteria Revision & Its Impact

​SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Nimish Maheshwari

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

Zomato does not have F&O membership and it could violate a BSE Sensex Next 50 selection rule which would trigger a BSE 100 deletion. To escape...

Janaghan Jeyakumar, CFA

ACME Solar Holdings - Strong Sector Tailwinds but Need to Keep an Eye on Profitability

ACME Solar Holdings (1700918D IN) is looking to raise US$360m in its upcoming India IPO. In this note, we talk about the company’s historical...

Ethan Aw

# 45 India Insight: ONGC, Oil India Price Premium, JSW Steel Acquisition, Adani Green RE Target

​ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...

Sudarshan Bhandari

SEBI introduces stricter F&O eligibility criteria, impacting market liquidity and stability by including 80 stocks and excluding 18 to 23. #SEBI...

Quiddity Leaderboard BSE/SENSEX Dec 24: Zomato Needs F&O Membership to Avoid BSE 100 Deletion

ONGC and Oil India set new gas prices at 20% premium, JSW Steel acquires majority stake in M Res NSW for $120 million, Adani Green Energy targets...