APAC IPOs & Placements, Aequitas Research

Ethan Aw

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (GH IN)</a> is looking to raise approximately US$270m in its upcoming India IPO.</li>
<li>Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.</li>
<li>The company has managed to remain profitable throughout COVID-19 and even experienced margin expansion in FY22. However, its post-COVID growth might be short-lived given stiff competition amongst peers.</li>
</ul>



Global Health (Medanta) (GH IN) is looking to raise approximately US$270m in its upcoming India IPO.
Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.
The company has managed to remain profitable throughout COVID-19 and even experienced margin expansion in FY22. However, its post-COVID growth might be short-lived given stiff competition amongst peers.


Global Health Pre-IPO - Stiff Competition Makes Growth Look Mediocre

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Healthium Medtech / Equity Capital Markets

Healthium Medtech (HM) is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).While the company started off by manufacturing surgical consumables, it has since then expanded into other segments, mostly via acquisitions. Now the company primarily sells products pertaining to surgical consumables, urology and arthroscopy. HM revenue has been growing steadily over the past few years, while its margins have been expanding, resulting in bottom-line growth comfortably outpacing sales growth. In addition, HM has undertaken three acquisitions in FY22 which will increase its earnings by 40-50%. Although, the company hasn’t been very forthcoming with data and it didn’t pay a whole lot for the companies that it recently acquired.We have covered the company background in our earlier note, <a href="https://www.smartkarma.com/insights/healthium-medtech-pre-ipo-tearsheet" target="_blank" rel="noopener">Healthium Medtech Pre-IPO Tearsheet.</a>

Healthium Medtech (HM) is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a global medtech company that manufactures products used in surgical, post-surgical and chronic care. It operates in three key markets namely, India, UK and the Rest of the World and currently has eight manufacturing facilities, seven in India and one in China. The firm has a diverse suite of offerings with over 52,000 SKUs and as of Mar 21, one in five surgeries conducted globally had used a Healthium Medtech product, as per Frost &amp; Sullivan (F&amp;S).While the company started off by manufacturing surgical consumables, it has since then expanded into other segments, mostly via acquisitions. Now the company primarily sells products pertaining to surgical consumables, urology and arthroscopy. HM revenue has been growing steadily over the past few years, while its margins have been expanding, resulting in bottom-line growth comfortably outpacing sales growth. In addition, HM has undertaken three acquisitions in FY22 which will increase its earnings by 40-50%. Although, the company hasn’t been very forthcoming with data and it didn’t pay a whole lot for the companies that it recently acquired.We have covered the company background in our earlier note, Healthium Medtech Pre-IPO Tearsheet.

Healthium Medtech Pre-IPO - Steady Earnings, Creating a Niche

Clarence Chu

<a href="https://www.smartkarma.com/entities/delhivery-pvt-ltd" target="_blank" data-smartkarma-citation="entities:33471:1" rel="noopener">Delhivery (1058656D IN)</a> is looking to raise US$1bn in its upcoming India IPO. The deal will be run by Kotak, Morgan Stanley, Bank of America, and Citigroup.Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.. It also provides value-added services such as e-commerce return services, installation and assembly services and fraud detection. As of Jun 2021 (1Q22), it had 21,342 active customers and had a postal index number (PIN) code reach of 17,045.

Delhivery (1058656D IN) is looking to raise US$1bn in its upcoming India IPO. The deal will be run by Kotak, Morgan Stanley, Bank of America, and Citigroup.Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.. It also provides value-added services such as e-commerce return services, installation and assembly services and fraud detection. As of Jun 2021 (1Q22), it had 21,342 active customers and had a postal index number (PIN) code reach of 17,045.

<a href="https://www.smartkarma.com/entities/global-health-medanta" target="_blank" data-smartkarma-citation="entities:34649:1" rel="noopener">Global Health (Medanta) (GH IN)</a> is looking to raise about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse, Jefferies and JM Financial. Global Health (Medanta) is a hospital network that operates under the Medanta brand. The firm currently has four hospitals in operation, located in Gurugram, Indore, Ranchi and Lucknow, a hospital under construction with an operational outpatient facility in Patna, and one last hospital in Noida planned for development. As of Mar 2021, the firm provides services in over 30 medical specialties and employs 1,100 doctors, with 2,176 installed beds in its operational hospitals.

Global Health (Medanta) (GH IN) is looking to raise about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse, Jefferies and JM Financial. Global Health (Medanta) is a hospital network that operates under the Medanta brand. The firm currently has four hospitals in operation, located in Gurugram, Indore, Ranchi and Lucknow, a hospital under construction with an operational outpatient facility in Patna, and one last hospital in Noida planned for development. As of Mar 2021, the firm provides services in over 30 medical specialties and employs 1,100 doctors, with 2,176 installed beds in its operational hospitals.

India

Global Health Limited (Medanta) is an India-based multi-specialty tertiary care provider, primarily operating in the North and East regions of India. The company delivers a comprehensive range of healthcare services across various medical specialties, including cardiac sciences, neurosciences, oncology, orthopaedics, liver transplants, and kidney and urology care. Global Health Limited was incorporated on August 13, 2004, and is headquartered in New Delhi, India.

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Global Health (MEDANTA IN)

Global Health Pre-IPO - Stiff Competition Makes Growth Look Mediocre

Global Health (Medanta) (GH IN) is looking to raise approximately US$270m in its upcoming India IPO. Global Health (GH) is a hospital network that...

Ethan Aw

Healthium Medtech Pre-IPO - Steady Earnings, Creating a Niche

Healthium Medtech is looking to raise up to US$500m in its upcoming India IPO. Healthium Medtech is a medtech company that manufactures products...

Sumeet Singh

Delhivery Pre-IPO Tearsheet

Delhivery (1058656D IN) is looking to raise US$1bn in its upcoming India IPO. The deal will be run by Kotak, Morgan Stanley, Bank of America, and...

Clarence Chu

Global Health Pre-IPO Tearsheet

Global Health (Medanta) (GH IN) is looking to raise about US$270m in its upcoming India IPO. The deal will be run by Kotak, Credit Suisse,...

Clarence Chu

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