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

Belrise Industries / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belrise-industries" target="_blank" data-smartkarma-citation="entities:44122:1" rel="noopener">Belrise Industries (9156339Z IN)</a> raised about US$252m in its India IPO.</li>
<li>Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>



Belrise Industries (9156339Z IN) raised about US$252m in its India IPO.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial and agri-vehicles.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

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/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN)</a>'s consolidated Q3 &amp; 9M FY25 results show a 12% revenue growth and a 79% surge in EBITDA, despite challenges in its sugar segment.</li>
<li>The robust margins and diversified revenue streams strengthen EID Parry's overall resilience, enabling it to offset sector-specific challenges and tap into emerging growth opportunities.</li>
<li>The Company's future capital allocation is expected to prioritize ethanol blending and consumer products, contingent on a sustainable policy framework.</li>
</ul>



Eid Parry India (EID IN)'s consolidated Q3 &amp; 9M FY25 results show a 12% revenue growth and a 79% surge in EBITDA, despite challenges in its sugar segment.
The robust margins and diversified revenue streams strengthen EID Parry's overall resilience, enabling it to offset sector-specific challenges and tap into emerging growth opportunities.
The Company's future capital allocation is expected to prioritize ethanol blending and consumer products, contingent on a sustainable policy framework.


E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN) </a>A Murugappa Group Company setting stage for transformation from cyclical sugar business to more stable consumer and high margin business. </li>
<li>The company has diversified into the non-sweetener segment and is emphasizing an asset-light model to drive further expansion.</li>
<li>
<a href="https://www.smartkarma.com/entities/eid-parry-india-ltd" target="_blank" data-smartkarma-citation="entities:6925:1" rel="noopener">Eid Parry India (EID IN)</a> is also the holding company of <a href="https://www.smartkarma.com/entities/coromandel-international-ltd" target="_blank" data-smartkarma-citation="entities:15305:1" rel="noopener">Coromandel International (CRIN IN)</a>, which holds substantial intrinsic value. </li>
</ul>



Eid Parry India (EID IN) A Murugappa Group Company setting stage for transformation from cyclical sugar business to more stable consumer and high margin business. 
The company has diversified into the non-sweetener segment and is emphasizing an asset-light model to drive further expansion.

Eid Parry India (EID IN) is also the holding company of Coromandel International (CRIN IN), which holds substantial intrinsic value. 


The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dhampur-bio-organics-limited" target="_blank" data-smartkarma-citation="entities:43978:1" rel="noopener">Dhampur Bio Organics (DBOL IN)</a>: Integrated sugar manufacturer listed in 2022 post demerger from <a href="https://www.smartkarma.com/entities/dhampur-sugar-mills-ltd" target="_blank" data-smartkarma-citation="entities:10655:1" rel="noopener">Dhampur Sugar Mills (DSM IN)</a> </li>
<li>With change in Ethanol policy from Sep-24, Company will be significantly benefitted with its grain-based ethanol plant and higher sugar production with good monsoon. </li>
<li>Company is reducing its debt significantly to deleverage its balance sheet.</li>
</ul>



Dhampur Bio Organics (DBOL IN): Integrated sugar manufacturer listed in 2022 post demerger from Dhampur Sugar Mills (DSM IN) 
With change in Ethanol policy from Sep-24, Company will be significantly benefitted with its grain-based ethanol plant and higher sugar production with good monsoon. 
Company is reducing its debt significantly to deleverage its balance sheet.


The Beat Ideas: Dhampur Bio Organics Ltd.- Ethanol, Value Added Products & Deleveraging

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>SEBI introduced the SPECIAL CALL AUCTION framework for Listed Holding Companies to unlock the value.</li>
<li>The first special call auction is set to take place in October.</li>
<li>Some companies are trading at a discount of more than 50% or even 80%, post this framework, shares will be traded at fair value.</li>
</ul>


SEBI introduced the SPECIAL CALL AUCTION framework for Listed Holding Companies to unlock the value.
The first special call auction is set to take place in October.
Some companies are trading at a discount of more than 50% or even 80%, post this framework, shares will be traded at fair value.


Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

India

E.I.D. - Parry (India) Limited is a diversified manufacturer of fertilizers, pesticides, sugar, ceramics, electronics and seeds.  The Company is also diversifying into the manufacture of organic fertilizers, bio-pesticides, acetic acid, wall tiles and horticultural activities.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Eid Parry India (EID IN)

Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

Belrise Industries Limited (BIL) raised about US$252m in its India IPO. In this note, we talk about the trading dynamics.

Akshat Shah

E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

Sudarshan Bhandari

The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

According to the ET Now, sources say that restrictions on sugar exports may soon be relaxed. Approval for the export of 10 lakh tonnes of sugar is...

Sudarshan Bhandari

The Beat Ideas: Dhampur Bio Organics Ltd.- Ethanol, Value Added Products & Deleveraging

Dhampur Bio Organics, a sugar manufacturer, set to benefit from new ethanol policy and debt reduction and huge capex in FY24.

Sudarshan Bhandari

Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

Belrise Industries Limited (BIL) raised about US$252m in its India IPO. In this note, we talk about the trading dynamics.

Akshat Shah

E.I.D. Parry Q3FY25 Update: Strong Nutraceutical Performance Despite Sugar Segment Challenge

​EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

Sudarshan Bhandari

The Beat Ideas: EID Parry's Strategic Transformation- Cane to Consumer

According to the ET Now, sources say that restrictions on sugar exports may soon be relaxed. Approval for the export of 10 lakh tonnes of sugar is...

Sudarshan Bhandari

The Beat Ideas: Dhampur Bio Organics Ltd.- Ethanol, Value Added Products & Deleveraging

​Dhampur Bio Organics, a sugar manufacturer, set to benefit from new ethanol policy and debt reduction and huge capex in FY24.

Sudarshan Bhandari

Unlocking Value: SEBI's New Special Call Auction Mechanism Explained

​SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...

Nimish Maheshwari

EID Parry India's Q3 & 9M FY25 results reveal strong revenue growth and EBITDA surge, bolstering resilience amid sugar segment challenges.

Dhampur Bio Organics, a sugar manufacturer, set to benefit from new ethanol policy and debt reduction and huge capex in FY24.

SEBI's SPECIAL CALL AUCTION framework aims to unlock value for listed holding companies by ensuring fair trading prices, with the first auction...