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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indo-mim-ltd" target="_blank" data-smartkarma-citation="entities:45956:1" rel="noopener">Indo-MIM Ltd (1666551D IN)</a> raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. </li>
<li>IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.</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>



Indo-MIM Ltd (1666551D IN) raised about US$395m in its India IPO. IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding (MIM) technology. 
IML provides end-to-end solutions for the manufacture of precision engineering components using metal injection molding technology. Its capabilities include mold designing and tooling, coupled with finishing and assembly operations.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Juniper Green Energy Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/juniper-green-energy-ltd" target="_blank" data-smartkarma-citation="entities:45455:1" rel="noopener">Juniper Green Energy Ltd (1831458D IN)</a> is looking to raise about US$187m in its India IPO. The deal has been downsized from its earlier estimated size of over US$310m.</li>
<li>Juniper Green Energy Limited (JGEL) is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.</li>
</ul>



Juniper Green Energy Ltd (1831458D IN) is looking to raise about US$187m in its India IPO. The deal has been downsized from its earlier estimated size of over US$310m.
Juniper Green Energy Limited (JGEL) is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.
In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the RHP updates, peer comp and implied valuations in the price range.


Aequitas: Juniper Green Energy IPO - RHP Updates, Peer Comp and Thoughts on Valuation

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Manipal Health Enterprises Ltd / Equity Capital Markets

Manipal Health Enterprises Ltd (1217834D IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/manipal-health-enterprises-ltd" target="_blank" data-smartkarma-citation="entities:48013:1" rel="noopener">Manipal Health Enterprises </a> (MHEL) is looking to raise up to US$960m in its upcoming India IPO.</li>
<li>MHEL operates a pan‑India network of multispecialty hospitals delivering a range of care services, from outpatient services to complex tertiary and quaternary interventions.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



Manipal Health Enterprises  (MHEL) is looking to raise up to US$960m in its upcoming India IPO.
MHEL operates a pan‑India network of multispecialty hospitals delivering a range of care services, from outpatient services to complex tertiary and quaternary interventions.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


Aequitas: Manipal Health IPO - RHP Updates and Thoughts on Valuations

Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Thematic (Sector/Industry)

<ul>
<li>98 days since Russia invaded Ukraine and there is yet no end to the war in sight.</li>
<li>We concluded that the market remains on course for a global recession down the road.</li>
<li>India and Indonesia should be a better bond destination, in our view, for those who must keep their bond portfolio invested.</li>
</ul>


98 days since Russia invaded Ukraine and there is yet no end to the war in sight.
We concluded that the market remains on course for a global recession down the road.
India and Indonesia should be a better bond destination, in our view, for those who must keep their bond portfolio invested.


Bond Market Monitor: Not Out of the Woods

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Singapore Telecommunications / Technical Analysis

<ul>
<li>Since March we have consistently said we believe any bottoming process would likely take weeks or months and could come with more tests of the lows, or even an undercut.</li>
<li>We are testing the March lows now in several global indexes, including the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US).</li>
<li>While this is a logical spot for a bounce, we see rallies as selling opportunities at the index level</li>
</ul>


Since March we have consistently said we believe any bottoming process would likely take weeks or months and could come with more tests of the lows, or even an undercut.
We are testing the March lows now in several global indexes, including the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US).
While this is a logical spot for a bounce, we see rallies as selling opportunities at the index level


MSCI ACWI, ACWI Ex-US, EM Testing Logical Support; Actionable Themes: Defensives & Reopening Stocks

India

Bharti Airtel Limited, a part of Bharti Enterprises, provides telecommunications services throughout India. The Company provides GSM Mobile Services, broadband, fixed line telephone services, long distance services (international & national) and enterprise services.

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Bharti Airtel (BHARTI IN)

Aequitas: Indo-MIM IPO Trading - Strong Overall Demand

Indo-MIM Ltd (IML) raised about US$395m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Juniper Green Energy IPO - RHP Updates, Peer Comp and Thoughts on Valuation

Juniper Green Energy is looking to raise about US$187m in its downsized India IPO. In this note, we talk about the RHP updates and implied...

Akshat Shah

Aequitas: Manipal Health IPO - RHP Updates and Thoughts on Valuations

Manipal Health Enterprises (MHEL) is looking to raise up to US$960m in its upcoming India IPO. In this note, we talk about the recent updates and...

Sumeet Singh

Bond Market Monitor: Not Out of the Woods

On-going maturity extensions and exchange offers will keep investors away from China. India and Indonesia should be a better bond destination for...

Bondcritic

MSCI ACWI, ACWI Ex-US, EM Testing Logical Support; Actionable Themes: Defensives & Reopening Stocks

We are testing the March lows in several global indexes, including the MSCI $ACWI, ACWI ex-US $ACWX, and EM $EEM. While this is a logical spot for...

Vermilion Research

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