Primer: Adani Power (ADANI IN) - Aug 2026
Adani Power is the largest private thermal power producer in India, strategically positioned to benefit from the country's rising electricity...
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Travel Food Services IPO - RHP Updates & Thoughts on Valuation
Travel Food Services (TFS) is looking to raise about US$233m in its India IPO. In this note, we will talk about the RHP updates and IPO valuations.
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ALMM-II: India’s Solar Shift From Modules to Cells
​Starting June 1, 2026, Indian government mandates solar projects to use PV cells from ALMM List-II, reshaping the solar industry towards domestic...
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Aequitas: Avaada Electro Pre-IPO - Offtake Visibility but Concentration and Leverage Risks Remain
Avaada Electro Limited (AEL) is looking to raise around US$800m in its upcoming India IPO. In this note, we look at the firm’s past performance.
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The Adani Group Clearance: Deconstructing the CCI Verdict and What It Means for the Conglomerate
​Allegations of bid rigging against Adani Group dismissed by CCI, leading to surge in stock prices and renewed focus on future execution.
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