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

Schloss Bangalore Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/schloss-bangalore-ltd" target="_blank" data-smartkarma-citation="entities:43983:1" rel="noopener">Schloss Bangalore Ltd (SCHBL IN)</a> raised about US$400m in its India IPO. </li>
<li>It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Schloss Bangalore Ltd (SCHBL IN) raised about US$400m in its India IPO. 
It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Schloss Bangalore IPO Trading - Decent Anchor; Muted Overall Demand

Nicholas Tan

Aegis Vopak Terminals / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aegis-vopak-terminals-ltd" target="_blank" data-smartkarma-citation="entities:44115:1" rel="noopener">Aegis Vopak Terminals Ltd (1902844D IN)</a> raised about US$328m in its upcoming India IPO.</li>
<li>It is the largest Indian third-party owner and operator (in terms of storage capacity) of tank storage terminals for liquified petroleum gas (LPG) and liquid products.</li>
<li>In our previous notes, we talked about the company’s historical performance, undertook a peer comparison and shared our thoughts on valuation. In this note, we talk about the trading dynamics.</li>
</ul>



Aegis Vopak Terminals Ltd (1902844D IN) raised about US$328m in its upcoming India IPO.
It is the largest Indian third-party owner and operator (in terms of storage capacity) of tank storage terminals for liquified petroleum gas (LPG) and liquid products.
In our previous notes, we talked about the company’s historical performance, undertook a peer comparison and shared our thoughts on valuation. In this note, we talk about the trading dynamics.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/schloss-bangalore-ltd" target="_blank" data-smartkarma-citation="entities:43983:1" rel="noopener">Schloss Bangalore Ltd (SCHBL IN) </a>is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.</li>
<li>It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.</li>
<li>In this note, we will talk about the IPO valuations.</li>
</ul>



Schloss Bangalore Ltd (SCHBL IN) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.
It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
In this note, we will talk about the IPO valuations.


Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aegis-vopak-terminals-ltd" target="_blank" data-smartkarma-citation="entities:44115:1" rel="noopener">Aegis Vopak Terminals Ltd (1902844D IN)</a>  is looking to raise about US$328m in its upcoming India IPO.</li>
<li>It is the largest Indian third-party owner and operator (in terms of storage capacity) of tank storage terminals for liquified petroleum gas (LPG) and liquid products.</li>
<li>In this note, we look at the firm’s recent financial performance updates, as well as its potential valuation.</li>
</ul>



Aegis Vopak Terminals Ltd (1902844D IN)  is looking to raise about US$328m in its upcoming India IPO.
It is the largest Indian third-party owner and operator (in terms of storage capacity) of tank storage terminals for liquified petroleum gas (LPG) and liquid products.
In this note, we look at the firm’s recent financial performance updates, as well as its potential valuation.


Aegis Vopak Pre-IPO: Expensive Related to Peers

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>Aegis Logistics is India’s leading logistics player in Liquified Petroleum Gas (LPG/Propane) and Chemicals.</li>
<li>It has demonstrated a stellar track record over past decade, delivering a 25% CAGR in EBITDA and Net profit, along with a 28% CAGR in dividend payouts.</li>
<li>Given the strength of its partnership with Vopak and various capital expenditure lined up in medium term, it should continue to deliver robust operational and financial performance.</li>
</ul>


Aegis Logistics is India’s leading logistics player in Liquified Petroleum Gas (LPG/Propane) and Chemicals.
It has demonstrated a stellar track record over past decade, delivering a 25% CAGR in EBITDA and Net profit, along with a 28% CAGR in dividend payouts.
Given the strength of its partnership with Vopak and various capital expenditure lined up in medium term, it should continue to deliver robust operational and financial performance.


2025 High Conviction Idea:Aegis Logistics-A Decade Track Record of 25% Growth in Profits & Dividends

India

Aegis Logistics Limited distributes liquefied petroleum gas and provides logistics and terminalling services in the oil, gas  and chemicals sectors. The Company also manufactures and distributes oleochemicals and kerosene oil and provides chemical storage facilities.

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Aegis Logistics (AGIS IN)

Schloss Bangalore IPO Trading - Decent Anchor; Muted Overall Demand

Schloss Bangalore Ltd (SBL) raised about US$400m in its India IPO. In this note, we talk about the demand and trading dynamics.

Akshat Shah

Aegis Vopak IPO: Anemic Demand

Aegis Vopak raised about US$328m in its upcoming India IPO. There is not much appetite for the IPO as the subscription rate for shares has been...

Nicholas Tan

Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

Schloss Bangalore Limited is looking to raise about US$400m in its upcoming India IPO. The deal has been downsized from an earlier size of US$600m....

Akshat Shah

2025 High Conviction Idea:Aegis Logistics-A Decade Track Record of 25% Growth in Profits & Dividends

Aegis Logistics is India's top player in LPG and chemicals logistics, showing impressive growth in net profit, and dividends. Strong partnerships...

Sreemant Dudhoria,CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Schloss Bangalore IPO Trading - Decent Anchor; Muted Overall Demand

Schloss Bangalore Ltd (SBL) raised about US$400m in its India IPO. In this note, we talk about the demand and trading dynamics.

Akshat Shah

Aegis Vopak IPO: Anemic Demand

Aegis Vopak raised about US$328m in its upcoming India IPO. There is not much appetite for the IPO as the subscription rate for shares has been...

Nicholas Tan

Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

Schloss Bangalore Limited is looking to raise about US$400m in its upcoming India IPO. The deal has been downsized from an earlier size of US$600m....

Akshat Shah

Aegis Vopak Pre-IPO: Expensive Related to Peers

Aegis Vopak is looking to raise about US$328m in its upcoming India IPO. In this note, we look at the firm’s recent financial performance updates,...

Nicholas Tan

2025 High Conviction Idea:Aegis Logistics-A Decade Track Record of 25% Growth in Profits & Dividends

​Aegis Logistics is India's top player in LPG and chemicals logistics, showing impressive growth in net profit, and dividends. Strong partnerships...

Sreemant Dudhoria,CFA

Aegis Logistics is India's top player in LPG and chemicals logistics, showing impressive growth in net profit, and dividends. Strong partnerships...