APAC IPOs & Placements, Aequitas Research

Kajal Jain

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

RSB Retail India Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rsb-retail-india-limited" target="_blank" data-smartkarma-citation="entities:45690:1" rel="noopener">RSB Retail India Limited (1633680D IN)</a> is looking to raise US$171m in its upcoming India IPO. </li>
<li>RSB Retail India is a Hyderabad-based multi-format apparel and lifestyle retailer, operating 70 stores across 22 cities in Telangana, Andhra Pradesh, and Karnataka as of August 2025.</li>
<li>In this note, we discuss about the company’s historical performance.</li>
</ul>



RSB Retail India Limited (1633680D IN) is looking to raise US$171m in its upcoming India IPO. 
RSB Retail India is a Hyderabad-based multi-format apparel and lifestyle retailer, operating 70 stores across 22 cities in Telangana, Andhra Pradesh, and Karnataka as of August 2025.
In this note, we discuss about the company’s historical performance.


Aequitas: RSB Retail India Limited Pre-IPO - Leading Multi-Format Retailer in South India

Akshat Shah

Bharat Coking Coal Limited (BCCL) / Equity Capital Markets

Bharat Coking Coal Limited (BCCL) (7535956Z IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bharat-coking-coal-limited-bccl" target="_blank" data-smartkarma-citation="entities:45272:1" rel="noopener">Bharat Coking Coal Limited (BCCL) (7535956Z IN)</a> raised around US$119m in its all-secondary India IPO. BCCL is a subsidiary of Coal India Limited engaged primarily in mining of coking coal. </li>
<li>It produces various grades of coking coal, non-coking coal, and washed coal, primarily for use in the steel and power sectors.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Bharat Coking Coal Limited (BCCL) (7535956Z IN) raised around US$119m in its all-secondary India IPO. BCCL is a subsidiary of Coal India Limited engaged primarily in mining of coking coal. 
It produces various grades of coking coal, non-coking coal, and washed coal, primarily for use in the steel and power sectors.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: BCCL Ltd IPO Trading - Robust Demand for First IPO of 2026

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bharat-coking-coal-limited-bccl" target="_blank" data-smartkarma-citation="entities:45272:1" rel="noopener">Bharat Coking Coal Limited (BCCL) (7535956Z IN)</a> is looking to raise around US$119m in its all-secondary India IPO. Coal India's subsidiary, it is engaged in the mining of coking coal.</li>
<li>BCCL produces various grades of coking coal, non-coking coal, and washed coal, primarily for use in the steel and power sectors.</li>
<li>In this note, we talk about the company’s historical performance and IPO valuations.</li>
</ul>



Bharat Coking Coal Limited (BCCL) (7535956Z IN) is looking to raise around US$119m in its all-secondary India IPO. Coal India's subsidiary, it is engaged in the mining of coking coal.
BCCL produces various grades of coking coal, non-coking coal, and washed coal, primarily for use in the steel and power sectors.
In this note, we talk about the company’s historical performance and IPO valuations.


Aequitas: BCCL IPO - Market Leadership in Domestic Coking Coal, with Key Considerations to Monitor

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN)</a> raised around US$606m in its India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Meesho (1546271D IN) raised around US$606m in its India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


Meesho Ltd IPO Trading - Robust Overall Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN) </a>is looking to raise around US$607m in its upcoming India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.</li>
</ul>



Meesho (1546271D IN) is looking to raise around US$607m in its upcoming India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.


Meesho Ltd IPO - Value-Led Play, Moderately Priced

India

Avenue Supermarts Limited, operating as D-Mart, is an Indian retail corporation that runs a chain of hypermarkets and supermarkets. The company offers a wide range of basic home and personal products, including food, groceries, toiletries, beauty products, garments, kitchenware, and home appliances. Avenue Supermarts was founded in 2000 and is headquartered in Mumbai, Maharashtra, India.

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Avenue Supermarts (DMART IN)

Aequitas: RSB Retail India Limited Pre-IPO - Leading Multi-Format Retailer in South India

RSB Retail India is looking to raise US$171m in its upcoming India IPO. It is a multi-format apparel and lifestyle retailer headquartered in...

Kajal Jain

Aequitas: BCCL Ltd IPO Trading - Robust Demand for First IPO of 2026

Bharat Coking Coal Ltd raised around US$119m in its all-secondary India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: BCCL IPO - Market Leadership in Domestic Coking Coal, with Key Considerations to Monitor

Bharat Coking Coal Ltd (BCCL) is looking to raise around US$119m in its all-secondary India IPO. In this note, we talk about the company’s...

Akshat Shah

Meesho Ltd IPO Trading - Robust Overall Demand

Meesho Ltd (ML) raised around US$606m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

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