Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, BSE 100, and BSE 200 Indices in the June 2025 index rebal event.</li>
<li>As things stand, there could be two index changes for the SENSEX index.</li>
<li>There could be two ADDs/DELs for the BSE 100 Index and four ADDs/DELs for the BSE 200 Index.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, BSE 100, and BSE 200 Indices in the June 2025 index rebal event.
As things stand, there could be two index changes for the SENSEX index.
There could be two ADDs/DELs for the BSE 100 Index and four ADDs/DELs for the BSE 200 Index.


Quiddity Leaderboard BSE/​​​​SENSEX Jun 25: Two Sensex Changes Could Trigger US$440mn One-Way Flows

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

LG Electronics India / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> is looking to raise US$1.5bn+ via part-selling its stake in <a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics India</a> IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.</li>
<li>LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.</li>
<li>LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.</li>
</ul>



LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM, Axis, BofA and Citi.
LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume in 1Q25, as per Redseer Report.
LGEI has been the number one player in this industry for 13 consecutive years (CY11-CY23) as per the value market share in the offline channel in India, as per Redseer.


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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pg-electroplast-ltd" target="_blank" data-smartkarma-citation="entities:17782:1" rel="noopener">PG Electroplast (PGEL IN)</a> is India's 2nd largest ODM player for washing machines. It also serve as ODM and OEM for leading brands in Room ACs, electronics, air coolers etc.</li>
<li>Company is guiding for 76% of topline growth as well as 250Cr of PAT for FY25, out of which 103Cr is already delivered. Also company revised guidance upwards in Q2. </li>
<li>With 1500Cr of QIP in plan, company is looking for inorganic growth opportunities to make stronger growth going forward. </li>
</ul>



PG Electroplast (PGEL IN) is India's 2nd largest ODM player for washing machines. It also serve as ODM and OEM for leading brands in Room ACs, electronics, air coolers etc.
Company is guiding for 76% of topline growth as well as 250Cr of PAT for FY25, out of which 103Cr is already delivered. Also company revised guidance upwards in Q2. 
With 1500Cr of QIP in plan, company is looking for inorganic growth opportunities to make stronger growth going forward. 


2025 High Conviction Idea: PG Electroplast

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>We expect six ADDs/DELs for BSE 100 and six ADDs/DELs for BSE 200.</li>
<li>Zomato is one of the six BSE 100 expected DELs but its fate will depend on when its expected F&amp;O list inclusion takes place and the index provider's discretionary choices.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
We expect six ADDs/DELs for BSE 100 and six ADDs/DELs for BSE 200.
Zomato is one of the six BSE 100 expected DELs but its fate will depend on when its expected F&amp;O list inclusion takes place and the index provider's discretionary choices.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

<ul>
<li>LG Electronics India posted strong profit growth for FY24, reinforcing its leadership in India’s booming consumer durables sector—making now an ideal window for an IPO in India.</li>
<li>The company reportedly aims to raise USD1-USD1.5 billion early next year, potentially valuing its Indian operations at over USD10 billion.</li>
<li>With government initiatives improving housing quality, electrification, and water access, white goods penetration is set to rise, supporting future demand growth.</li>
</ul>


LG Electronics India posted strong profit growth for FY24, reinforcing its leadership in India’s booming consumer durables sector—making now an ideal window for an IPO in India.
The company reportedly aims to raise USD1-USD1.5 billion early next year, potentially valuing its Indian operations at over USD10 billion.
With government initiatives improving housing quality, electrification, and water access, white goods penetration is set to rise, supporting future demand growth.


LG Electronics India IPO: Strike While the Iron Is Hot. Cash in on Growth Momentum

India

Dixon Technologies (India) Ltd. is a major Indian electronics manufacturing services (EMS) provider. It specializes in manufacturing consumer electronics, home appliances, lighting products, and mobile phones, operating as both an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM). The company is headquartered in Noida, Uttar Pradesh, India, and was founded in 1993.

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Dixon Technologies (DIXON IN)

Quiddity Leaderboard BSE/SENSEX Jun 25: Two Sensex Changes Could Trigger US$440mn One-Way Flows

IndusInd Bank and Nestle India are expected DELs and Trent and Bharat Electronics are expected ADDs for the SENSEX index in June 2025. However,...

Janaghan Jeyakumar, CFA

LG Electronics India Pre-IPO Tearsheet

LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM,...

Sumeet Singh

2025 High Conviction Idea: PG Electroplast

PG Electroplast (PGEL IN) is India's 2nd largest ODM player for washing machines, serving as ODM and OEM for various leading brands. The company...

Sudarshan Bhandari

Quiddity Leaderboard BSE/SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

The reference period ends today (31st October). Our BSE 100 expected ADDs/DELs remain unchanged. For BSE 200, all expected ADDs/DELs mentioned in...

Janaghan Jeyakumar, CFA

LG Electronics India IPO: Strike While the Iron Is Hot. Cash in on Growth Momentum

LG Electronics India is well poised for an IPO in India after strong profit growth, aiming to raise USD1-USD1.5 billion and potentially valuing...

Devi Subhakesan

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Quiddity Leaderboard BSE/​​​​SENSEX Jun 25: Two Sensex Changes Could Trigger US$440mn One-Way Flows

IndusInd Bank and Nestle India are expected DELs and Trent and Bharat Electronics are expected ADDs for the SENSEX index in June 2025. However,...

Janaghan Jeyakumar, CFA

LG Electronics India Pre-IPO Tearsheet

LG Electronics (066570 KS) is looking to raise US$1.5bn+ via part-selling its stake in LG Electronics India IPO. The deal will be run by MS, JPM,...

Sumeet Singh

2025 High Conviction Idea: PG Electroplast

​PG Electroplast (PGEL IN) is India's 2nd largest ODM player for washing machines, serving as ODM and OEM for various leading brands. The company...

Sudarshan Bhandari

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

The reference period ends today (31st October). Our BSE 100 expected ADDs/DELs remain unchanged. For BSE 200, all expected ADDs/DELs mentioned in...

Janaghan Jeyakumar, CFA

LG Electronics India IPO: Strike While the Iron Is Hot. Cash in on Growth Momentum

​LG Electronics India is well poised for an IPO in India after strong profit growth, aiming to raise USD1-USD1.5 billion and potentially valuing...

Devi Subhakesan

Quiddity Leaderboard BSE/SENSEX Jun 25: Two Sensex Changes Could Trigger US$440mn One-Way Flows

PG Electroplast (PGEL IN) is India's 2nd largest ODM player for washing machines, serving as ODM and OEM for various leading brands. The company...

Quiddity Leaderboard BSE/SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

LG Electronics India is well poised for an IPO in India after strong profit growth, aiming to raise USD1-USD1.5 billion and potentially valuing...