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

Schloss Bangalore Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/schloss-bangalore-ltd" target="_blank" data-smartkarma-citation="entities:43983:1" rel="noopener">Schloss Bangalore Ltd (SCHBL IN) </a>is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.</li>
<li>It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.</li>
<li>In this note, we will talk about the IPO valuations.</li>
</ul>



Schloss Bangalore Ltd (SCHBL IN) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.
It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
In this note, we will talk about the IPO valuations.


Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/schloss-bangalore-ltd" target="_blank" data-smartkarma-citation="entities:43983:1" rel="noopener">Schloss Bangalore Ltd (SCHBL IN)</a> is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.</li>
<li>It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we talk about the RHP updates.</li>
</ul>



Schloss Bangalore Ltd (SCHBL IN) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.
It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
We have looked at the company’s past performance in our previous notes. In this note, we talk about the RHP updates.


Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

PTT Exploration & Production / Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,143 points (10-day EMA) and 1,133 points and the resistance levels at 1,156 points (25-day EMA) and 1,164 points.</li><li>In the short term, the index remains in a bullish flag rally phase, aiming to retest the previous resistance at 1,176 points after hitting a new low for the year at 1,056.41 on April 8.</li><li>This upward movement is expected to be short-lived, followed by a larger correction that would confirm a medium-term trend reversal into a new upward cycle (with a higher low).</li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,143 points (10-day EMA) and 1,133 points and the resistance levels at 1,156 points (25-day EMA) and 1,164 points.In the short term, the index remains in a bullish flag rally phase, aiming to retest the previous resistance at 1,176 points after hitting a new low for the year at 1,056.41 on April 8.This upward movement is expected to be short-lived, followed by a larger correction that would confirm a medium-term trend reversal into a new upward cycle (with a higher low).

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/blue-jet-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:36373:1" rel="noopener">Blue Jet Healthcare Ltd (BJHC IN)</a> is a science-led pharmaceutical company that has evolved into a strategic partner for the CDMO of advanced Pharmaceutical Intermediates and APIs.</li>
<li>Company gave a record breaking Q3FY25 primarily driven by capacity expansion in Contrast media and PI Segment. Strong demand for the cardiovascular product was also witnessed.</li>
<li>Company commissioned an additional manufacturing block during Q3 FY25 at Ambernath for manufacturing Advance Contrast Media with investment around Rs. 100Mn.</li>
</ul>



Blue Jet Healthcare Ltd (BJHC IN) is a science-led pharmaceutical company that has evolved into a strategic partner for the CDMO of advanced Pharmaceutical Intermediates and APIs.
Company gave a record breaking Q3FY25 primarily driven by capacity expansion in Contrast media and PI Segment. Strong demand for the cardiovascular product was also witnessed.
Company commissioned an additional manufacturing block during Q3 FY25 at Ambernath for manufacturing Advance Contrast Media with investment around Rs. 100Mn.


The Beat Ideas: Blue Jet Healthcare- Rising CDMO Player

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Colgate Palmolive (India) / Equity Bottom-Up

<ul><li>Colgate Palmolive's (CLGT) 3QFY25 results were weaker than our expectations, as the urban slowdown weighed on domestic consumption</li><li>Moreover, during 3QFY25, overall performance was somewhat boosted by a one-off performance in the exports business, which we believe is not sustainable</li><li>The toothpaste segment saw intrinsic mid-single-digit volume growth, however, adjusting for consumer promotions, volume growth drifted to low single digits</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Colgate Palmolive's (CLGT) 3QFY25 results were weaker than our expectations, as the urban slowdown weighed on domestic consumptionMoreover, during 3QFY25, overall performance was somewhat boosted by a one-off performance in the exports business, which we believe is not sustainableThe toothpaste segment saw intrinsic mid-single-digit volume growth, however, adjusting for consumer promotions, volume growth drifted to low single digitsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Colgate-Palmolive (3QFY25): Who Moved My Smile? Maintain REDUCE

India

Colgate-Palmolive (India) Ltd. manufactures consumer products in the oral care and body care area. The Company's products include soaps, cosmetics, toilet preparations, toothpaste, toothbrushes, shaving brushes, and glycerin.

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Colgate Palmolive (India) (CLGT IN)

Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

Schloss Bangalore Limited is looking to raise about US$400m in its upcoming India IPO. The deal has been downsized from an earlier size of US$600m....

Akshat Shah

Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Schloss Bangalore Limited (SBL) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around...

Akshat Shah

Earnings Results of PTTEP and DELTA

Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,143 points (10-day EMA) and 1,133 points...

Krungthai XSpring

The Beat Ideas: Blue Jet Healthcare- Rising CDMO Player

Blue Jet Healthcare Ltd saw record-breaking Q3FY25 results due to capacity expansion in Contrast media and PI Segment, with strong demand for...

Sudarshan Bhandari

Colgate-Palmolive (3QFY25): Who Moved My Smile? Maintain REDUCE

Colgate Palmolive's (CLGT) 3QFY25 results were weaker than our expectations, as the urban slowdown weighed on domestic consumption

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Schloss Bangalore IPO - Thoughts on Peer Comp and Valuation

Schloss Bangalore Limited is looking to raise about US$400m in its upcoming India IPO. The deal has been downsized from an earlier size of US$600m....

Akshat Shah

Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Schloss Bangalore Limited (SBL) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around...

Akshat Shah

Earnings Results of PTTEP and DELTA

Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,143 points (10-day EMA) and 1,133 points...

Krungthai XSpring

The Beat Ideas: Blue Jet Healthcare- Rising CDMO Player

​Blue Jet Healthcare Ltd saw record-breaking Q3FY25 results due to capacity expansion in Contrast media and PI Segment, with strong demand for...

Sudarshan Bhandari

Colgate-Palmolive (3QFY25): Who Moved My Smile? Maintain REDUCE

Colgate Palmolive's (CLGT) 3QFY25 results were weaker than our expectations, as the urban slowdown weighed on domestic consumption

HDFC Securities

Blue Jet Healthcare Ltd saw record-breaking Q3FY25 results due to capacity expansion in Contrast media and PI Segment, with strong demand for...