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.

Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the coming week will see see the listing of <a href="https://www.smartkarma.com/entities/akums-drugs-and-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:40915:1" rel="noopener">Akums Drugs</a> while books will  be open for <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a>, <a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions</a> and <a href="https://www.smartkarma.com/entities/black-sesame-technologies-inc" target="_blank" data-smartkarma-citation="entities:39894:1" rel="noopener">Black Sesame Technologies.</a>
</li>
<li>On the placement front, there were two large deals in <a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" data-smartkarma-citation="entities:41:1" rel="noopener">Fortescue Metals (FMG AU)</a> and <a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" data-smartkarma-citation="entities:26712:1" rel="noopener">Adani Transmission (ADANIT IN)</a>. </li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the coming week will see see the listing of Akums Drugs while books will  be open for Ola Electric, BrainBees Solutions and Black Sesame Technologies.

On the placement front, there were two large deals in Fortescue Metals (FMG AU) and Adani Transmission (ADANIT IN). 


ECM Weekly (5th Aug 2024) - Ola Electric, Brainbees, WeRide, Sanil, CR Beverages, Carote, Fortescue

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

BrainBees Solutions / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (0172540D IN)</a>, India’s largest multi-channel retailing platform for mothers’, babies’ and kids’ products, will launch an IPO to raise up to US$500 million.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/brainbees-solutions-firstcry-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:125537" rel="noopener">Brainbees Solutions (FirstCry) IPO: The Bull Case</a>, <a href="https://www.smartkarma.com/insights/brainbees-solutions-firstcry-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:125973" rel="noopener">Brainbees Solutions (FirstCry) IPO: The Bear Case</a> and <a href="https://www.smartkarma.com/insights/brainbees-solutions-firstcry-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:153804" rel="noopener">Brainbees Solutions (FirstCry) IPO: The Investment Case</a>.</li>
<li>Our valuation analysis suggests that the IPO price range of Rs440-465 per share is attractive. Therefore, we would participate in the IPO.</li>
</ul>



BrainBees Solutions (0172540D IN), India’s largest multi-channel retailing platform for mothers’, babies’ and kids’ products, will launch an IPO to raise up to US$500 million.
We previously discussed the IPO in Brainbees Solutions (FirstCry) IPO: The Bull Case, Brainbees Solutions (FirstCry) IPO: The Bear Case and Brainbees Solutions (FirstCry) IPO: The Investment Case.
Our valuation analysis suggests that the IPO price range of Rs440-465 per share is attractive. Therefore, we would participate in the IPO.


Brainbees Solutions (FirstCry) IPO: Valuation Insights

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (1700674D IN)</a> and <a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (0172540D IN)</a> IPOs.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/a8-new-media-group-ltd" target="_blank" data-smartkarma-citation="entities:3444:1" rel="noopener">A8 New Media (800 HK)</a>, <a href="https://www.smartkarma.com/entities/asia-cement-china-holdings" target="_blank" data-smartkarma-citation="entities:3374:1" rel="noopener">Asia Cement China (743 HK)</a>, <a href="https://www.smartkarma.com/entities/cpmc-holdings-ltd" target="_blank" data-smartkarma-citation="entities:10427:1" rel="noopener">CPMC Holdings (906 HK)</a>, <a href="https://www.smartkarma.com/entities/fancl-corp" target="_blank" data-smartkarma-citation="entities:15862:1" rel="noopener">Fancl Corp (4921 JP)</a>, <a href="https://www.smartkarma.com/entities/sun-corp" target="_blank" data-smartkarma-citation="entities:10803:1" rel="noopener">Sun Corp (6736 JP)</a>, <a href="https://www.smartkarma.com/entities/pacific-metals-co-ltd" target="_blank" data-smartkarma-citation="entities:3439:1" rel="noopener">Pacific Metals (5541 JP)</a>. </li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: Ola Electric (1700674D IN) and BrainBees Solutions (0172540D IN) IPOs.
Event-Driven developments: A8 New Media (800 HK), Asia Cement China (743 HK), CPMC Holdings (906 HK), Fancl Corp (4921 JP), Sun Corp (6736 JP), Pacific Metals (5541 JP). 


Weekly Deals Digest (04 Aug) - Ola, Brainbees, A8, Asia Cement, CPMC, Fancl, Sun Corp, Heiwa

<ul>
<li>
<a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions</a> is looking to raise up to US$500m in its upcoming India IPO.</li>
<li>FirstCry is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products in terms of GMV, for the year ending Dec 2022 (9M23), according to RedSeer.</li>
<li>In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.</li>
</ul>



BrainBees Solutions is looking to raise up to US$500m in its upcoming India IPO.
FirstCry is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products in terms of GMV, for the year ending Dec 2022 (9M23), according to RedSeer.
In our previous notes, we looked at the company’s past performance. In this note, we will talk about valuations.


Brainbees Solutions (FirstCry) IPO - Not Very Attractive but It Is Relatively Cheap

<ul>
<li>
<a href="https://www.smartkarma.com/entities/brainbees-solutions" target="_blank" data-smartkarma-citation="entities:36115:1" rel="noopener">BrainBees Solutions (0172540D IN)</a>, India’s largest multi-channel retailing platform for mothers’, babies’ and kids’ products, will launch an IPO to raise up to US$500 million.</li>
<li>We previously discussed the IPO in <a href="https://www.smartkarma.com/insights/brainbees-solutions-firstcry-ipo-the-bull-case" target="_blank" data-smartkarma-citation="insights:125537" rel="noopener">Brainbees Solutions (FirstCry) IPO: The Bull Case</a> and <a href="https://www.smartkarma.com/insights/brainbees-solutions-firstcry-ipo-the-bear-case" target="_blank" data-smartkarma-citation="insights:125973" rel="noopener">Brainbees Solutions (FirstCry) IPO: The Bear Case</a>. In this note, we examine the RHP update.</li>
<li>The RHP shows that positives (KPIs heading in the right direction, margin improvement, lower cash burn) offset the negatives (declining organic growth and deteriorating balance sheet).    </li>
</ul>



BrainBees Solutions (0172540D IN), India’s largest multi-channel retailing platform for mothers’, babies’ and kids’ products, will launch an IPO to raise up to US$500 million.
We previously discussed the IPO in Brainbees Solutions (FirstCry) IPO: The Bull Case and Brainbees Solutions (FirstCry) IPO: The Bear Case. In this note, we examine the RHP update.
The RHP shows that positives (KPIs heading in the right direction, margin improvement, lower cash burn) offset the negatives (declining organic growth and deteriorating balance sheet).    


Brainbees Solutions (FirstCry) IPO: The Investment Case

India

BrainBees Solutions Limited, doing business as FirstCry.com, operates an online multi-channel retailing platform for baby and kids products. The Company retails diapers, wipes, changing pads and mats, breast feeding products, bibs, medicines, apparels, bath and skin care, gifts, thermometers, and school supplies. FirstCry.com serves customers worldwide.

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BrainBees Solutions (FIRSTCRY IN)

ECM Weekly (5th Aug 2024) - Ola Electric, Brainbees, WeRide, Sanil, CR Beverages, Carote, Fortescue

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Brainbees Solutions (FirstCry) IPO: Valuation Insights

Our valuation analysis suggests that the IPO price range of Rs440-465 per share is attractive. Therefore, we would participate in the IPO.

Arun George

Weekly Deals Digest (04 Aug) - Ola, Brainbees, A8, Asia Cement, CPMC, Fancl, Sun Corp, Heiwa

Last week, notable developments occurred in Event-Driven (A8, Asia Cement China, CPMC, Fancl, Sun Corp, Heiwa Real Estate, Pacific Metals) and ECM...

Arun George

Brainbees Solutions (FirstCry) IPO - Not Very Attractive but It Is Relatively Cheap

BrainBees Solutions is looking to raise up to US$500m in its upcoming India IPO. We have looked at the past performance in our earlier notes, in...

Sumeet Singh

Brainbees Solutions (FirstCry) IPO: The Investment Case

The RHP shows that positives (KPIs heading in the right direction, margin improvement, lower cash burn) offset the negatives (declining organic...

Arun George

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