Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

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

Central Mine Planning Design Institute Ltd (CMPDIL) / Equity Capital Markets

Central Mine Planning Design Institute Ltd (CMPDIL) (0180301D IN)

Central Mine Planning Design Institute Ltd (CMPDIL)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/central-mine-planning-design-institute-ltd-cmpdil" target="_blank" data-smartkarma-citation="entities:45267:1" rel="noopener">Central Mine Planning Design Institute Ltd (CMPDI) (0180301D IN)</a> is looking to raise around US$200m in its all-secondary India IPO.</li>
<li>CMPDI is a Coal India subsidiary, providing consultancy and support services across the full range of coal and mineral exploration, mine planning and design, covering the entire mining operations lifecycle.</li>
<li>In this note, we talk about the company’s historical performance and IPO valuations.</li>
</ul>



Central Mine Planning Design Institute Ltd (CMPDI) (0180301D IN) is looking to raise around US$200m in its all-secondary India IPO.
CMPDI is a Coal India subsidiary, providing consultancy and support services across the full range of coal and mineral exploration, mine planning and design, covering the entire mining operations lifecycle.
In this note, we talk about the company’s historical performance and IPO valuations.


Aequitas: CMPDI Ltd IPO - Asset-Light Mining Consultancy with Strong Parentage, Priced In Line

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Central Mine Planning &amp; Design Institute has launched IPO to raise up to INR 18.4B. The company plans to sell 107.1M shares at between INR 163 - 172 per share.</li>
<li>CMPDIL offer consultancy and support services for the entire spectrum of coal and mineral exploration and mine planning and design services.</li>
<li>This valuation appears to be reasonable and cheap when compared to its peers like RITES and Engineers India. We would recommend the investors to subscribe to the issue.</li>
</ul>


Central Mine Planning &amp; Design Institute has launched IPO to raise up to INR 18.4B. The company plans to sell 107.1M shares at between INR 163 - 172 per share.
CMPDIL offer consultancy and support services for the entire spectrum of coal and mineral exploration and mine planning and design services.
This valuation appears to be reasonable and cheap when compared to its peers like RITES and Engineers India. We would recommend the investors to subscribe to the issue.


Central Mine Planning & Design IPO: Robust Business Model In Place, Designed for a Sustained Growth

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

Housing and Urban Development Corporation / Equity Bottom-Up

Housing and Urban Development Corporation (HUDCO IN)

Housing and Urban Development Corporation

<ul>
<li>The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.</li>
<li>We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.</li>
<li>Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.</li>
</ul>


The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.
We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.
Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.


Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

On the 9th of November, the board of <a href="https://www.smartkarma.com/entities/engineers-india-ltd" target="_blank" data-smartkarma-citation="entities:13697:1" rel="noopener">Engineers India (ENGR IN)</a> made an <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/d9028510-2726-43b0-b1c9-6869a6c6a912.pdf" target="_blank" rel="noopener">announcement</a> that it would consider at the board meeting to take place 3 days hence, theretofore for the purposes of, inter alia, considering and approving the Q2 financial results, a buyback of shares. There were no details. After the board meeting three days later, they announced that the plan was to propose a buyback of 69,869,047 shares at a price of Rs 84/share, which was effectively the maximum legal amount which could be spent on a buyback due to the statutory limit being 25% of the aggregate of the fully-paid-up share capital and the free reserves. It was 11.06% of shares out. They proposed a postal ballot which the ran from 21 Nov to 20 Dec. Shareholders approved. They set a 1 January record date. Now it gets interesting.Existing shareholders should DEFINITELY look at this.

On the 9th of November, the board of Engineers India (ENGR IN) made an announcement that it would consider at the board meeting to take place 3 days hence, theretofore for the purposes of, inter alia, considering and approving the Q2 financial results, a buyback of shares. There were no details. After the board meeting three days later, they announced that the plan was to propose a buyback of 69,869,047 shares at a price of Rs 84/share, which was effectively the maximum legal amount which could be spent on a buyback due to the statutory limit being 25% of the aggregate of the fully-paid-up share capital and the free reserves. It was 11.06% of shares out. They proposed a postal ballot which the ran from 21 Nov to 20 Dec. Shareholders approved. They set a 1 January record date. Now it gets interesting.Existing shareholders should DEFINITELY look at this.

Hefty Engineers India Buyback Tender - Worth The Arb If You Own

India

Engineers India Limited is a public sector industrial technology, engineering consultancy, and technology licensing company that provides design, engineering, procurement, construction, and integrated project management services. It primarily focuses on the oil and gas and petrochemical industries, while also diversifying into sectors such as non-ferrous metallurgy, infrastructure, water and wastewater management, solar, nuclear power, and fertilizers. The company was founded in 1965 and is headquartered in New Delhi, India.

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Engineers India (ENGR IN)

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

Aequitas: CMPDI Ltd IPO - Asset-Light Mining Consultancy with Strong Parentage, Priced In Line

Central Mine Planning Design Institute Ltd (CMPDI) is looking to raise around US$200m in its all-secondary India IPO. In this note, we talk about...

Akshat Shah

Central Mine Planning & Design IPO: Robust Business Model In Place, Designed for a Sustained Growth

Central Mine Planning & Design launches IPO to raise INR 18.4B, offering consultancy services for coal and mineral exploration. Valuation seems...

Tina Banerjee

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Hefty Engineers India Buyback Tender - Worth The Arb If You Own

Engineers India is conducting a large Buyback Tender. For those in now (as of Jan1) and who want to keep their position, they can tender a portion...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

Aequitas: CMPDI Ltd IPO - Asset-Light Mining Consultancy with Strong Parentage, Priced In Line

Central Mine Planning Design Institute Ltd (CMPDI) is looking to raise around US$200m in its all-secondary India IPO. In this note, we talk about...

Akshat Shah

Central Mine Planning & Design IPO: Robust Business Model In Place, Designed for a Sustained Growth

​Central Mine Planning & Design launches IPO to raise INR 18.4B, offering consultancy services for coal and mineral exploration. Valuation seems...

Tina Banerjee

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

​Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Hefty Engineers India Buyback Tender - Worth The Arb If You Own

Engineers India is conducting a large Buyback Tender. For those in now (as of Jan1) and who want to keep their position, they can tender a portion...

Travis Lundy

Central Mine Planning & Design launches IPO to raise INR 18.4B, offering consultancy services for coal and mineral exploration. Valuation seems...

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...