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

Advanta Enterprises Limited / Equity Capital Markets

Advanta Enterprises Limited (2085631D IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/advanta-enterprises-limited" target="_blank" data-smartkarma-citation="entities:46332:1" rel="noopener">Advanta Enterprises Limited (2085631D IN)</a> (AEL) is looking to raise about US$500m in its upcoming India IPO. It is a 100% secondary offering. </li>
<li>AEL is a global agriculture solutions company offering hybrid seeds and post harvest solutions, with over 900 seed varieties across multiple crops, sold in 74 countries.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Advanta Enterprises Limited (2085631D IN) (AEL) is looking to raise about US$500m in its upcoming India IPO. It is a 100% secondary offering. 
AEL is a global agriculture solutions company offering hybrid seeds and post harvest solutions, with over 900 seed varieties across multiple crops, sold in 74 countries.
In this note, we talk about the company’s historical performance.


Aequitas: Advanta Enterprises Limited Pre-IPO

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>China has officially announced the cancellation of export tax rebates (typically 9%) for a broad range of pesticides, including Glufosinate and Acephate, effective April 1, 2026.</li>
<li>This policy shift effectively raises the floor price for Chinese exports by 9%, easing the "dumping" pressure that has suppressed Indian agrochemical margins for nearly three years.</li>
<li>One should monitor Q1 2026 volume surges as global buyers front-load orders before the rebate exit, providing a tactical window for Indian incumbents to regain pricing power.</li>
</ul>


China has officially announced the cancellation of export tax rebates (typically 9%) for a broad range of pesticides, including Glufosinate and Acephate, effective April 1, 2026.
This policy shift effectively raises the floor price for Chinese exports by 9%, easing the "dumping" pressure that has suppressed Indian agrochemical margins for nearly three years.
One should monitor Q1 2026 volume surges as global buyers front-load orders before the rebate exit, providing a tactical window for Indian incumbents to regain pricing power.


Analysis Of "China Cancels Export Tax Rebates on Pesticides"

Value investor- India mid & small caps

Bhaskar Chakraborty

<ul><li>Recently, the consumer insights arm of WPP came out with a report suggesting a sharp pickup in FMCG sales volume in rural India in 2QFY18</li><li>We see continued pressure on rural incomes in 2HFY18 and believe any recovery will be modest at best</li><li>We note prices of key crops like rice, wheat, corn, soybean, cotton and mustard are down YoY</li><li>Milk prices are down 10% in the last three months</li><li>Agrochemical companies guide to continuation of challenging market conditions in 2HFY18</li><li>FMCG majors HUL and Dabur report rural growth in line with urban growth</li><li>Bajaj Finance's rural heavy 2 &amp; 3-W loan delinquencies remain significantly elevated from pre-demonetization levels</li><li>Gold demand in rural wedding season drops 25-30% YoY</li></ul>

Recently, the consumer insights arm of WPP came out with a report suggesting a sharp pickup in FMCG sales volume in rural India in 2QFY18We see continued pressure on rural incomes in 2HFY18 and believe any recovery will be modest at bestWe note prices of key crops like rice, wheat, corn, soybean, cotton and mustard are down YoYMilk prices are down 10% in the last three monthsAgrochemical companies guide to continuation of challenging market conditions in 2HFY18FMCG majors HUL and Dabur report rural growth in line with urban growthBajaj Finance's rural heavy 2 &amp; 3-W loan delinquencies remain significantly elevated from pre-demonetization levelsGold demand in rural wedding season drops 25-30% YoY

A Rural Recovery Is Underway in India, or Is It?

Asia focused research insights & advisory, Asia Advisors

Vinay Patel

Asia focused research insights & advisory

Asia Advisors

Asia Advisors is an independent financial advisory and research firm working closely with corporates and institutions to provide consulting solutions & research insights. We provide advisory services including capital solutions, business strategy and investment insights.
Firm is headed by Vinay Patel who has close to two decades of experience in research and business development at large, international investment banks such as HSBC and ICICI Securities. Led research efforts in areas of Macroeconomics, Asset Allocation & Investment Strategy for close to a decade in global & domestic research teams. As a business head in Singapore, advised top global investment management firms & Portfolio managers in Asia for India related investments.
Vinay was recently joined by Swapnil Manish, an investment banker and ex-ecommerce entrepreneur with more than 12 years of experience. Swapnil was the TMT banker at BNP Paribas and was part of several large M&A and ECM transactions (Bharti-Zain, Bharti Infratel IPO, Schneider-Zicom among several others). He's also had a stint as an ecommerce entrepreneur having launched & led Mumbai's first online grocery player.

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this win to ease Modi's chances for another term at national elections in 2019 and that would give him total 7 year period to push for reforms (In his victory speech Modi himself said he is now looking for delivering by 2022 - the 75th year of Indian Independence). Amidst the euphoria of Modi's victory, we would like to highlight some of the ground realities…

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact of demonetisation on the electoral prospects of the party. Performance in UP is impressive as the opposition had formed an alliance to fight Modi but still lost poorly.  Most political analysts have been caught on the wrong foot as they predicted a hung assembly while the results show that Modi wave seen during the General elections continues. We…

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

India

Bayer CropScience India Limited is a key player in the Indian agricultural sector, manufacturing, selling, and distributing insecticides, fungicides, herbicides, and various other agrochemical products and corn seeds. The company also focuses on seeds & traits and digital farming solutions, aiming to enhance agricultural productivity and sustainability. It was incorporated in 1958 and is headquartered in Thane, Maharashtra, India.

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Bayer Cropscience India (BYRCS IN)

Aequitas: Advanta Enterprises Limited Pre-IPO

Advanta Enterprises Ltd (AEL) is looking to raise about US$500m in its upcoming India IPO. It is a 100% secondary offering.

Kajal Jain

Analysis Of "China Cancels Export Tax Rebates on Pesticides"

China cancels export tax rebates on pesticides, raising prices by 9% and potentially benefiting Indian agrochemical companies.

Nimish Maheshwari

A Rural Recovery Is Underway in India, or Is It?

Recently, the consumer insights arm of WPP came out with a report suggesting a sharp pickup in FMCG sales volume in rural India in 2QFY18 We see...

Bhaskar Chakraborty

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this...

Asia Advisors

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact...

Asia Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Advanta Enterprises Limited Pre-IPO

Advanta Enterprises Ltd (AEL) is looking to raise about US$500m in its upcoming India IPO. It is a 100% secondary offering.

Kajal Jain

Analysis Of "China Cancels Export Tax Rebates on Pesticides"

​China cancels export tax rebates on pesticides, raising prices by 9% and potentially benefiting Indian agrochemical companies.

Nimish Maheshwari

A Rural Recovery Is Underway in India, or Is It?

Recently, the consumer insights arm of WPP came out with a report suggesting a sharp pickup in FMCG sales volume in rural India in 2QFY18 We see...

Bhaskar Chakraborty

Investors Need To Be Patient With Reform Momentum Even As Modi Win Ensures Policy Continuity

Expectations on economic reforms from Modi government are running high after the big win in Uttar Pradesh. Political analysts are expecting this...

Asia Advisors

Landslide Win for Modi in UP Elections;Upper House No.s to Cross 100 Mark by 2018, a +ve for Reforms

Ruling party BJP has won a landslide victory in the largest state of Uttar Pradesh (UP) thereby putting to rest any doubts over the adverse impact...

Asia Advisors

China cancels export tax rebates on pesticides, raising prices by 9% and potentially benefiting Indian agrochemical companies.