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>
<a href="https://www.smartkarma.com/entities/avepoint-inc" target="_blank" data-smartkarma-citation="entities:37131:1" rel="noopener">AvePoint (AVPT US)</a> , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.</li>
<li>As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.
As of FY24, AP had over 25,000 customers who rely on its Confidence Platform to prepare, secure, and optimize their critical data across environments.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>DocuSign, Inc. reported its fourth quarter and full fiscal year 2026 financial results, demonstrating steady growth amid its ongoing transformation to an AI-native Intelligent Agreement Management (IAM) platform.</li><li>The company reported quarterly revenue of $837 million, representing an 8% year-over-year increase, and exceeded $1 billion in quarterly billings for the first time, growing 10% year-over-year.</li><li>Annual recurring revenue (ARR) reached $3.3 billion, up 8% from the previous year, with IAM contributing approximately 11% of ARR after just 18 months since its launch.</li></ul>

DocuSign, Inc. reported its fourth quarter and full fiscal year 2026 financial results, demonstrating steady growth amid its ongoing transformation to an AI-native Intelligent Agreement Management (IAM) platform.The company reported quarterly revenue of $837 million, representing an 8% year-over-year increase, and exceeded $1 billion in quarterly billings for the first time, growing 10% year-over-year.Annual recurring revenue (ARR) reached $3.3 billion, up 8% from the previous year, with IAM contributing approximately 11% of ARR after just 18 months since its launch.

DocuSign: From eSignature to AI Platform—Is a Full-Scale Business Model Transformation Underway?

<ul><li>DocuSign, Inc. recently reported its third-quarter fiscal year 2026 results, showing several points of interest for investors, with both positive and challenging aspects.</li><li>The company delivered a commendable revenue growth of 8% year-over-year to $818 million, alongside a 10% increase in billings to $829 million.</li><li>This growth is partly driven by robust customer investment in DocuSign’s core eSignature products and its Intelligent Agreement Management (IAM) platform.</li></ul>

DocuSign, Inc. recently reported its third-quarter fiscal year 2026 results, showing several points of interest for investors, with both positive and challenging aspects.The company delivered a commendable revenue growth of 8% year-over-year to $818 million, alongside a 10% increase in billings to $829 million.This growth is partly driven by robust customer investment in DocuSign’s core eSignature products and its Intelligent Agreement Management (IAM) platform.

DocuSign Is Winning Bigger Enterprise Deals — What’s Driving the Momentum?

<ul><li>Docusign continues to demonstrate resilience and innovation as evidenced in its Q2 Fiscal 2026 performance.</li><li>Revenue reached $801 million, marking a 9% year-over-year growth, with billings up by 13% year-over-year to $818 million.</li><li>The company's strategic focus on platform innovation, particularly through its AI-native Docusign Intelligent Agreement Management (IAM) platform, has contributed positively to this growth.</li></ul>

Docusign continues to demonstrate resilience and innovation as evidenced in its Q2 Fiscal 2026 performance.Revenue reached $801 million, marking a 9% year-over-year growth, with billings up by 13% year-over-year to $818 million.The company's strategic focus on platform innovation, particularly through its AI-native Docusign Intelligent Agreement Management (IAM) platform, has contributed positively to this growth.

DocuSign Takeover Alert: Betaville Leak Reignites Bain & Hellman Speculation!

DocuSign Inc.: Strategic Growth in IAM and International Markets Is Pushing Them Forward! – Major Drivers

United States

DocuSign, Inc. provides electronic signature solutions. The Company offers platform that enables businesses of all sizes to digitally prepare, sign, act on, and manage agreements. DocuSign serves mortgage, non-profit, government, real estate, insurance, technology, and healthcare industries worldwide.

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DocuSign (DOCU US)

AvePoint SGX Secondary Listing - Strong Growth and Large Client Base but Unclear Metrics

AvePoint (AVPT US) , a global provider of data security, governance, and resilience, aims to raise around US$300m in its Singapore secondary listing.

Sumeet Singh

DocuSign: From eSignature to AI Platform—Is a Full-Scale Business Model Transformation Underway?

DocuSign, Inc. reported its fourth quarter and full fiscal year 2026 financial results, demonstrating steady growth amid its ongoing...

Baptista Research

DocuSign Is Winning Bigger Enterprise Deals — What’s Driving the Momentum?

DocuSign, Inc. recently reported its third-quarter fiscal year 2026 results, showing several points of interest for investors, with both positive...

Baptista Research

DocuSign Takeover Alert: Betaville Leak Reignites Bain & Hellman Speculation!

Docusign continues to demonstrate resilience and innovation as evidenced in its Q2 Fiscal 2026 performance. Revenue reached $801 million, marking...

Baptista Research

DocuSign Inc.: Strategic Growth in IAM and International Markets Is Pushing Them Forward! – Major Drivers

Docusign continues to demonstrate resilience and innovation as evidenced in its Q2 Fiscal 2026 performance. Revenue reached $801 million, marking...

Baptista Research

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