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

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a> is looking to raise about US$2.4bn in its upcoming India IPO.</li>
<li>NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we will talk about valuations.</li>
</ul>



National Stock Exchange (NSEIN IN) is looking to raise about US$2.4bn in its upcoming India IPO.
NSE operates electronic platforms for trading equities, derivatives, currencies, and debt securities, also earning revenue from clearing and settlement services, market data, index licensing, listing fees, connectivity, and technology services.
We have looked at the company’s past performance in our previous note. In this note, we will talk about valuations.


Aequitas: NSE IPO - Digestible Valuation, Given Its Dominance

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>Insight on SEBI's new consultation paper on review of Certain Aspects of the Closing Auction Session(CAS) , Market Timings and Settlement Methodology for Derivatives Contracts.</li>
<li>We discuss the various aspects of the paper presented by SEBI. </li>
<li>Finally, we discuss how the impacts the NSE IPO which is opening this week.</li>
</ul>


Insight on SEBI's new consultation paper on review of Certain Aspects of the Closing Auction Session(CAS) , Market Timings and Settlement Methodology for Derivatives Contracts.
We discuss the various aspects of the paper presented by SEBI. 
Finally, we discuss how the impacts the NSE IPO which is opening this week.


NSE IPO - New SEBI Consultation Paper on CAS - Why It Eases the Worries a Bit

<ul>
<li>This insight discusses in detail about NSE upcoming IPO and why it is fighting on all fronts.</li>
<li>We discuss 5 areas which could potentially impact NSE's near term earnings.</li>
<li>Finally, we discuss on IPO valuation and our view on the same.</li>
</ul>


This insight discusses in detail about NSE upcoming IPO and why it is fighting on all fronts.
We discuss 5 areas which could potentially impact NSE's near term earnings.
Finally, we discuss on IPO valuation and our view on the same.


NSE IPO: Fighting on All Fronts - CAS, New Capital Norms, Clearing Corp, MSE & Others

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.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a>, India's largest stock exchange, is seeking to raise about US$2.6 billion. </li>
<li>The IPO comprises a fully secondary share offering. Subscription is expected to open the week of 14 September at a rumoured revised price band of Rs1,700–1,785.</li>
<li>The investment case is bearish as NSE is a dominant, high-margin franchise carrying real regulatory-driven revenue and competitive risk concentrated in options, its core revenue line.</li>
</ul>



National Stock Exchange (NSEIN IN), India's largest stock exchange, is seeking to raise about US$2.6 billion. 
The IPO comprises a fully secondary share offering. Subscription is expected to open the week of 14 September at a rumoured revised price band of Rs1,700–1,785.
The investment case is bearish as NSE is a dominant, high-margin franchise carrying real regulatory-driven revenue and competitive risk concentrated in options, its core revenue line.


National Stock Exchange of India IPO: The Investment Case

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>The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.</li>
<li>Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". </li>
<li>While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. </li>
</ul>


The NDA's landslide victory in Maharashtra has ushered in a period of political stability, boosting market sentiment and investor confidence. This will increase government spending on infrastructure &amp; rural development.
Analysts predict a modest recovery in corporate earnings in the second half of the fiscal year, potentially triggering a "mini risk-on rally". 
While women-centric welfare schemes contributed to the NDA's success, concerns arise regarding their potential strain on state finances. 


Maharashtra Elections Inject Optimism into Indian Markets

India

BSE Ltd. is Asia's oldest stock exchange, providing a transparent market for trading in equities, debt instruments, derivatives, mutual funds, and other securities. It offers services including listing, trading, clearing, settlement, and data services, and operates platforms for SMEs and mutual fund distribution. The company is headquartered in Mumbai, India, and was founded in 1875.

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BSE (BSE IN)

Aequitas: NSE IPO - Digestible Valuation, Given Its Dominance

National Stock Exchange (NSEIN IN) is looking to raise about US$2.4bn in its upcoming India IPO. In this note, we talk about valuations.

Sumeet Singh

NSE IPO - New SEBI Consultation Paper on CAS - Why It Eases the Worries a Bit

Insight on SEBI's new consultation paper on review of Certain Aspects of the Closing Auction Session, Market Timings and Settlement Methodology for...

Sreemant Dudhoria

NSE IPO: Fighting on All Fronts - CAS, New Capital Norms, Clearing Corp, MSE & Others

This insight discusses in detail about NSE upcoming IPO and why it is fighting on all fronts. Discuss 5 areas which could potentially impact NSE's...

Sreemant Dudhoria

National Stock Exchange of India IPO: The Investment Case

NSE, India's largest stock exchange, is seeking to raise about US$2.6 billion. In this note, I discuss the investment case.

Arun George

Maharashtra Elections Inject Optimism into Indian Markets

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: NSE IPO - Digestible Valuation, Given Its Dominance

National Stock Exchange (NSEIN IN) is looking to raise about US$2.4bn in its upcoming India IPO. In this note, we talk about valuations.

Sumeet Singh

NSE IPO - New SEBI Consultation Paper on CAS - Why It Eases the Worries a Bit

Insight on SEBI's new consultation paper on review of Certain Aspects of the Closing Auction Session, Market Timings and Settlement Methodology for...

Sreemant Dudhoria

NSE IPO: Fighting on All Fronts - CAS, New Capital Norms, Clearing Corp, MSE & Others

This insight discusses in detail about NSE upcoming IPO and why it is fighting on all fronts. Discuss 5 areas which could potentially impact NSE's...

Sreemant Dudhoria

National Stock Exchange of India IPO: The Investment Case

NSE, India's largest stock exchange, is seeking to raise about US$2.6 billion. In this note, I discuss the investment case.

Arun George

Maharashtra Elections Inject Optimism into Indian Markets

​NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...

Nimish Maheshwari

NDA's victory in Maharashtra boosts market sentiment, predicts recovery in corporate earnings, but raises concerns about strain on state finances...