APAC IPOs & Placements, Aequitas Research

Kajal Jain

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

Encube Ethicals Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/encube-ethicals-limited" target="_blank" data-smartkarma-citation="entities:55447:1" rel="noopener">Encube Ethicals Limited (0526723D IN)</a> (EEL) plans to raise around US$314m in its upcoming India IPO. The deal will be run by Axis, JM Fin and Kotak.</li>
<li>EEL is a contract manufacturer of topical pharmaceutical formulations, including creams, gels, lotions, ointments, solutions and sprays, serving 50 countries.</li>
<li>As per F&amp;S, EEL was the fastest-growing top five topical generics player by volume and secured the highest number of topical ANDA approvals globally during FY24–26.</li>
</ul>



Encube Ethicals Limited (0526723D IN) (EEL) plans to raise around US$314m in its upcoming India IPO. The deal will be run by Axis, JM Fin and Kotak.
EEL is a contract manufacturer of topical pharmaceutical formulations, including creams, gels, lotions, ointments, solutions and sprays, serving 50 countries.
As per F&amp;S, EEL was the fastest-growing top five topical generics player by volume and secured the highest number of topical ANDA approvals globally during FY24–26.


Aequitas: Encube Ethicals Limited Pre-IPO Tearsheet

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

SHEIN Global Holdings / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, there were a number of deals launched in India</li>
<li>On the placement front, there were a few placement in India along with <a href="https://www.smartkarma.com/entities/dmg-mori-co-ltd" target="_blank" data-smartkarma-citation="entities:11125:1" rel="noopener">Dmg Mori Co Ltd (6141 JP)</a> in Japan.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, there were a number of deals launched in India
On the placement front, there were a few placement in India along with Dmg Mori Co Ltd (6141 JP) in Japan.


Aequitas ECM Weekly (17 August 2026)- Shein, Ingenic, Megmeet, Dinglong, NSE, Milky Mist, DMG

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Aequitas: Encube Ethicals Limited Pre-IPO Tearsheet

Encube Ethicals Ltd (EEL) plans to raise around US$314m in its upcoming India IPO. The deal will be run by Axis, JM Fin and Kotak.

Kajal Jain

Aequitas ECM Weekly (17 August 2026)- Shein, Ingenic, Megmeet, Dinglong, NSE, Milky Mist, DMG

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh