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

Motilal Oswal

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

Computer Age Management Services / Equity Bottom-Up

Computer Age Management Services (CAMS IN)

<ul><li>The redesign of its transfer agent platform in Google Cloud will enhance the company’s control over the database, improve the ability to provide insights and reduce wastage due to easy availability and fungible additional capacity.</li><li>The cutting-edge capability of Google’s software would also give an added advantage.</li><li>While the revenue trajectory of its MF business remains robust, CAMS has sharpened its focus on non-MF businesses to boost their revenue contribution to 20% by FY27 from 13% in FY24. </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.

The redesign of its transfer agent platform in Google Cloud will enhance the company’s control over the database, improve the ability to provide insights and reduce wastage due to easy availability and fungible additional capacity.The cutting-edge capability of Google’s software would also give an added advantage.While the revenue trajectory of its MF business remains robust, CAMS has sharpened its focus on non-MF businesses to boost their revenue contribution to 20% by FY27 from 13% in FY24. 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.

Cams - Increased Focus on Non-MF Business

<ul><li>Motilal Oswal's research report onCAMS CAMS derives ~12% of its revenue from the non-MF segments, such as AIF/PMS RTA, CAMSPay, Think360, CAMS KRA, and CAMSRep.</li><li>However, these businesses are set to register higher-than-MF segment growth over the next couple of years.</li><li>AIF/PMS RTA: Over the past couple of years, affluent investors have been increasing their allocations to AIF/PMS products.</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.

Motilal Oswal's research report onCAMS CAMS derives ~12% of its revenue from the non-MF segments, such as AIF/PMS RTA, CAMSPay, Think360, CAMS KRA, and CAMSRep.However, these businesses are set to register higher-than-MF segment growth over the next couple of years.AIF/PMS RTA: Over the past couple of years, affluent investors have been increasing their allocations to AIF/PMS products.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.

Cams - Macros in Favor of the Non-MF Business

APAC IPOs & Placements, Aequitas Research

Clarence Chu

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.

Event-Driven

<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> was listed on 29th Dec 2022, when it raised around US$180m in its India IPO. Its six-month lockup will expire on 24th Jun 2023.</li>
<li>KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.</li>
<li>Coming up for six-month expiry is General Atlantic (the Promoter) and other pre-IPO shareholders. The Promoter had been the sole selling shareholder in the IPO.</li>
</ul>



KFin Technologies (1804170D IN) was listed on 29th Dec 2022, when it raised around US$180m in its India IPO. Its six-month lockup will expire on 24th Jun 2023.
KFin Technology (KFin) is a technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem.
Coming up for six-month expiry is General Atlantic (the Promoter) and other pre-IPO shareholders. The Promoter had been the sole selling shareholder in the IPO.


KFin Tech Lock-Up - US$183m Lockup Expiry Could See PE Investor Trim Further

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Protean eGov Technologies / 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

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

India

Computer Age Management Services (CAMS) is a technology-driven financial infrastructure and services provider, primarily serving as a Registrar and Transfer Agent (RTA) for the Indian Mutual Fund industry. It offers a comprehensive interface for asset management companies, distributors, and investors, managing critical functions like transaction processing, investor record-keeping, and compliance. CAMS also provides services to insurance companies, banks, NBFCs, and Alternate Investment Funds. The company was founded in 1988 and is headquartered in Chennai, Tamil Nadu, India.

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Computer Age Management Services (CAMS IN)

Cams - Increased Focus on Non-MF Business

While the revenue trajectory of its MF business remains robust, CAMS has sharpened its focus on non-MF businesses to boost their revenue...

Motilal Oswal

Cams - Macros in Favor of the Non-MF Business

Motilal Oswal's research report onCAMS CAMS derives ~12% of its revenue from the non-MF segments, such as AIF/PMS RTA, CAMSPay, Think360, CAMS KRA,...

Motilal Oswal

KFin Tech Lock-Up - US$183m Lockup Expiry Could See PE Investor Trim Further

KFin Technologies (1804170D IN) was listed on 29th Dec 2022, when it raised around US$180m in its India IPO. Its six-month lockup will expire on...

Clarence Chu

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

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