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>Protean eGov Technologies (PET) is looking to raise up to US$600m in its upcoming India IPO.</li>
<li>Protean eGov Technologies (PET) is a key IT-enabled solutions company in India engaged in conceptualizing, developing and executing nationally critical greenfield technology solutions. </li>
<li>In this note, we look at the company's past performance.</li>
</ul>


Protean eGov Technologies (PET) is looking to raise up to US$600m in its upcoming India IPO.
Protean eGov Technologies (PET) is a key IT-enabled solutions company in India engaged in conceptualizing, developing and executing nationally critical greenfield technology solutions. 
In this note, we look at the company's past performance.


Protean EGov Technologies Pre-IPO - A Key Service Provider but Earnings Have Lagged

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

Kfin Technologies  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kfin-technologies" target="_blank" data-smartkarma-citation="entities:36609:1" rel="noopener">KFin Technologies (1804170D IN)</a> is looking to raise around US$180m in its India IPO.</li>
<li>KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.</li>
<li>In this note, we will look at its RHP updates, peer comparison, earnings assumptions, and share our thoughts on valuation.</li>
</ul>



KFin Technologies (1804170D IN) is looking to raise around US$180m in its India IPO.
KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.
In this note, we will look at its RHP updates, peer comparison, earnings assumptions, and share our thoughts on valuation.


KFin Technologies IPO - Profit Growth Has Outpaced Peer, However Valuation Isn’t Cheap

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kfin-technologies" target="_blank" data-smartkarma-citation="entities:36609:1" rel="noopener">KFin Technologies (1804170D IN)</a> is looking to raise around US$300m in its India IPO.</li>
<li>KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.</li>
<li>Under its offering, it primarily serves asset managers and corporate issuers domestically, while providing investor solutions for mutual funds and private retirement schemes in other regions.</li>
</ul>



KFin Technologies (1804170D IN) is looking to raise around US$300m in its India IPO.
KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.
Under its offering, it primarily serves asset managers and corporate issuers domestically, while providing investor solutions for mutual funds and private retirement schemes in other regions.


KFin Technologies Pre-IPO - Large Domestic Player Continues to Get Larger

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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>PGCIL: PGCIL’s consolidated asset capitalisation/Capex in Q2FY23 declined 76.6%/32.8% YoY to INR17.9bn/INR17.4bn, on a high YoY base</li><li>In H1FY23, capitalisation/Capex came in at INR31.3bn/INR32.2bn vs INR132.8bn/INR37.0bn YoY</li><li>Q2FY23 revenue increased 7.3% YoY, led by moderate growth in the transmission (+7.4% YoY) and telecom (+7.3% YoY) segments, partially offset by a 25.9% YoY decline in consultancy income</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.

PGCIL: PGCIL’s consolidated asset capitalisation/Capex in Q2FY23 declined 76.6%/32.8% YoY to INR17.9bn/INR17.4bn, on a high YoY baseIn H1FY23, capitalisation/Capex came in at INR31.3bn/INR32.2bn vs INR132.8bn/INR37.0bn YoYQ2FY23 revenue increased 7.3% YoY, led by moderate growth in the transmission (+7.4% YoY) and telecom (+7.3% YoY) segments, partially offset by a 25.9% YoY decline in consultancy incomeContent 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.

HSIE Results Daily: PGCIL, Britannia Industries, Cummins, Aditya Birla Capital

<ul><li>AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)</li><li>Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUM</li><li>Interest rate hikes are likely to keep treasury gains under check</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.

AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUMInterest rate hikes are likely to keep treasury gains under checkContent 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.

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

India

Computer Age Management Services Private Limited provides transaction processing and customer care services. The Company offers online transaction, mailback, capital accounting, subscription, sales systems support, and investment services. Computer Age Management Services serves customers in India. 

Computer Age Management Services (CAMS IN)

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Computer Age Management Services (CAMS IN)

Protean EGov Technologies Pre-IPO - A Key Service Provider but Earnings Have Lagged

Protean eGov Technologies (PET) is looking to raise up to US$600m in its upcoming India IPO. In this note we talk about the company's past...

Sumeet Singh

KFin Technologies IPO - Profit Growth Has Outpaced Peer, However Valuation Isn’t Cheap

KFin Technologies (1804170D IN) is looking to raise around US$180m in its India IPO. In this note, we will look at its RHP updates, peer...

Clarence Chu

KFin Technologies Pre-IPO - Large Domestic Player Continues to Get Larger

KFin Technologies (1804170D IN) is looking to raise around US$300m in its India IPO. KFin is a tech-driven financial services platform providing...

Clarence Chu

HSIE Results Daily: PGCIL, Britannia Industries, Cummins, Aditya Birla Capital

PGCIL: PGCIL’s consolidated asset capitalisation/Capex in Q2FY23 declined 76.6%/32.8% YoY to INR17.9bn/INR17.4bn, on a high YoY base

HDFC Securities

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)