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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> raised around US$734m in its India IPO in August 2024. The lockup for its pre-IPO investors is set to expire soon.</li>
<li>Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Ola Electric (OLAELEC IN) raised around US$734m in its India IPO in August 2024. The lockup for its pre-IPO investors is set to expire soon.
Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells
In this note, we will talk about the lockup dynamics and possible placement.


Ola Electric IPO Lockup - US$1.6bn+ Lockup Release

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

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> raised around US$350m in its 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>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Dr Agarwal's Health Care Ltd (8140044Z IN) raised around US$350m in its 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.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Dr Agarwal’s Healthcare IPO Trading - Decent Anchor Demand but Subdued Overall Coverage

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ather-energy" target="_blank" data-smartkarma-citation="entities:43903:1" rel="noopener">Ather Energy</a> is looking to raise about US$536m in its upcoming India IPO.</li>
<li>Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Ather Energy is looking to raise about US$536m in its upcoming India IPO.
Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.
In this note, we talk about the not-so-positive aspects of the deal.


Ather Energy Pre-IPO - The Negatives - Outpaced by Rivals

<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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ather-energy" target="_blank" data-smartkarma-citation="entities:43903:1" rel="noopener">Ather Energy</a> is looking to raise about US$536m in its upcoming India IPO. </li>
<li>Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Ather Energy is looking to raise about US$536m in its upcoming India IPO. 
Ather is a pure play electric vehicle company in India designing and developing E2Ws, battery packs, charging infrastructure, associated software and accessories, also manufacturing battery packs and assembling E2Ws in-house.
In this note, we talk about the positive aspects of the deal.


Ather Energy Pre-IPO - The Positives - One of the E2W Pioneers

India

Bajaj Finance Limited is a financial services company that operates branches in India, which provide an assortment of financial services.

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Bajaj Finance Ltd (BAF IN)

Ola Electric IPO Lockup - US$1.6bn+ Lockup Release

Ola Electric (OLAELEC IN) raised around US$734m in its India IPO in August 2024. The lockup for its pre-IPO investors is set to expire soon.

Sumeet Singh

Dr Agarwal’s Healthcare IPO Trading - Decent Anchor Demand but Subdued Overall Coverage

Dr Agarwal’s Healthcare raised around US$350m in its India IPO. In this note, we will talk about the demand and trading dynamics.

Akshat Shah

Ather Energy Pre-IPO - The Negatives - Outpaced by Rivals

Ather Energy is looking to raise about US$536m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

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

Ather Energy Pre-IPO - The Positives - One of the E2W Pioneers

Ather Energy is looking to raise about US$536m in its upcoming India IPO. In this note, we will talk about the positive aspects of the deal.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)