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>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

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

Equity Bottom-Up

Blue Jet Healthcare Ltd / Equity Bottom-Up

<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.

Thematic (Sector/Industry)

<ul><li>We expect our consumer coverage to report a high-single-digit revenue growth of 9% YoY, mainly driven by price hikes</li><li>At an aggregate level, we anticipate revenue and EBITDA growth of 9% and 1%, respectively, in 3QFY25</li><li>However, profitability is expected to decline by 6% due to negative operating leverage and gross margin pressures (excluding the liquor segment).</li></ul>Content is an 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.

We expect our consumer coverage to report a high-single-digit revenue growth of 9% YoY, mainly driven by price hikesAt an aggregate level, we anticipate revenue and EBITDA growth of 9% and 1%, respectively, in 3QFY25However, profitability is expected to decline by 6% due to negative operating leverage and gross margin pressures (excluding the liquor segment).Content is an 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.

Consumer (3QFY25 Results Preview): Challenges Persist

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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’s ‘Investor Day’ showcased management effort toward driving category consumption and focus on enhancing consumer uptrade.</li><li>Colgate’s endeavor to make its toothpaste portfolio superior continues; it is now aligning its brushes portfolio, where it has seen growth recovery.</li><li>Focus remains on driving consumption in urban (ie ‘brushing twice’ daily; recent adoption of Oral Health movement for creating awareness) and improving usage in rural.</li></ul>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.

Colgate’s ‘Investor Day’ showcased management effort toward driving category consumption and focus on enhancing consumer uptrade.Colgate’s endeavor to make its toothpaste portfolio superior continues; it is now aligning its brushes portfolio, where it has seen growth recovery.Focus remains on driving consumption in urban (ie ‘brushing twice’ daily; recent adoption of Oral Health movement for creating awareness) and improving usage in rural.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.

Colgate-Palmolive - Valuation Factors in Enhanced Execution in Core

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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.

<ul><li>CLGT's strategic pillars that drive volume and value growth in oral care are intact.</li><li>The company continues to expand its personal care portfolio and sees significant potential in preimmunizing the toothpaste and toothbrush categories.</li><li>Rapid advancements in digital initiatives have enhanced CLGT's distribution, improving the product assortment in its directly serviced outlets (1.7m outlets).</li></ul>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.

CLGT's strategic pillars that drive volume and value growth in oral care are intact.The company continues to expand its personal care portfolio and sees significant potential in preimmunizing the toothpaste and toothbrush categories.Rapid advancements in digital initiatives have enhanced CLGT's distribution, improving the product assortment in its directly serviced outlets (1.7m outlets).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.

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 - 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

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

Consumer (3QFY25 Results Preview): Challenges Persist

We expect our consumer coverage to report a high-single-digit revenue growth of 9% YoY, mainly driven by price hikes. At an aggregate level, we...

HDFC Securities

Colgate-Palmolive - Valuation Factors in Enhanced Execution in Core

Colgate’s ‘Investor Day’ showcased management effort toward driving category consumption and focus on enhancing consumer uptrade.

Emkay

Colgate - Focusing on Balanced Growth

The company continues to expand its personal care portfolio and sees significant potential in preimmunizing the toothpaste and toothbrush categories.

Motilal Oswal

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

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

Consumer (3QFY25 Results Preview): Challenges Persist

We expect our consumer coverage to report a high-single-digit revenue growth of 9% YoY, mainly driven by price hikes. At an aggregate level, we...

HDFC Securities

Colgate-Palmolive - Valuation Factors in Enhanced Execution in Core

Colgate’s ‘Investor Day’ showcased management effort toward driving category consumption and focus on enhancing consumer uptrade.

Emkay

Colgate - Focusing on Balanced Growth

The company continues to expand its personal care portfolio and sees significant potential in preimmunizing the toothpaste and toothbrush categories.

Motilal Oswal

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