New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

GMR Airports Infrastructure / Equity Bottom-Up

<ul><li>GMR Airports has met the investor test in New Zealand in anticipation of a potential acquisition.</li><li>The most likely targets for GMR Airports in New Zealand include Wellington Airport, regional airports, Queenstown Airport, and Christchurch Airport's investment in Tarras.</li><li>There is a strong possibility that GMR Airports' interest in acquiring New Zealand airports may not result in any actual transactions.</li></ul>

GMR Airports has met the investor test in New Zealand in anticipation of a potential acquisition.The most likely targets for GMR Airports in New Zealand include Wellington Airport, regional airports, Queenstown Airport, and Christchurch Airport's investment in Tarras.There is a strong possibility that GMR Airports' interest in acquiring New Zealand airports may not result in any actual transactions.

Transport Titbits - An Airport Transaction on the Runway?

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

Schloss Bangalore Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/schloss-bangalore-ltd" target="_blank" data-smartkarma-citation="entities:43983:1" rel="noopener">Schloss Bangalore Ltd (SCHBL IN)</a> is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.</li>
<li>It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we talk about the RHP updates.</li>
</ul>



Schloss Bangalore Ltd (SCHBL IN) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around US$600m.
It is a luxury hospitality company which owns, operates, manages and develops luxury hotels and resorts under ‘The Leela’ brand, through direct ownership and hotel management agreements with third-party owners.
We have looked at the company’s past performance in our previous notes. In this note, we talk about the RHP updates.


Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Rosita Fernandes

Vikran Engineering Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/vikran-engineering-limited" target="_blank" data-smartkarma-citation="entities:44015:1" rel="noopener">Vikran Engineering Limited (1635154D IN)</a> (VEL) is planning to raise about US$119m through its upcoming India IPO. </li>
<li>Vikran Engineering Limited (VEL) based in Mumbai, operates as an Engineering, Procurement &amp; Construction (EPC) firm, focusing on power, water, and railway infrastructure projects.</li>
<li>According to CRISIL Report, VEL has experienced fastest growth in profitability, with a 236.94% CAGR growth in PAT and a 130.02% CAGR growth in EBITDA between FY22 to FY24.</li>
</ul>



Vikran Engineering Limited (1635154D IN) (VEL) is planning to raise about US$119m through its upcoming India IPO. 
Vikran Engineering Limited (VEL) based in Mumbai, operates as an Engineering, Procurement &amp; Construction (EPC) firm, focusing on power, water, and railway infrastructure projects.
According to CRISIL Report, VEL has experienced fastest growth in profitability, with a 236.94% CAGR growth in PAT and a 130.02% CAGR growth in EBITDA between FY22 to FY24.


Vikran Engineering Limited Pre-IPO - Capitalizing On Core Competencies But With Concentration Risks

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>We expect six ADDs/DELs for BSE 100 and six ADDs/DELs for BSE 200.</li>
<li>Zomato is one of the six BSE 100 expected DELs but its fate will depend on when its expected F&amp;O list inclusion takes place and the index provider's discretionary choices.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
We expect six ADDs/DELs for BSE 100 and six ADDs/DELs for BSE 200.
Zomato is one of the six BSE 100 expected DELs but its fate will depend on when its expected F&amp;O list inclusion takes place and the index provider's discretionary choices.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

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

GMR Power & Urban Infra / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gmr-power-urban-infra-ltd" target="_blank" data-smartkarma-citation="entities:44024:1" rel="noopener">GMR Power &amp; Urban Infra (GMRPUI IN)</a> emerged post-demerger, focusing on energy, smart metering, and urban infra sectors.</li>
<li>The company’s smart metering and hydro-power projects are key growth catalysts, providing significant future revenue potential.</li>
<li>GPUIL's diversification strategy and strategic alliances may redefine its long-term growth trajectory and shareholder value creation.</li>
</ul>



GMR Power &amp; Urban Infra (GMRPUI IN) emerged post-demerger, focusing on energy, smart metering, and urban infra sectors.
The company’s smart metering and hydro-power projects are key growth catalysts, providing significant future revenue potential.
GPUIL's diversification strategy and strategic alliances may redefine its long-term growth trajectory and shareholder value creation.


The Beat Ideas: GMR Power & Urban Infra Limited- The Surprising Star in GMR Group’s Portfolio

India

GMR Infrastructure is an infrastructure company with interests in airports, power and roads. The Company is developing a greenfield international airport at Hyderabad, and is also operating, managing and developing the Delhi airport. Additionally, it is involved in development and operation of power plants and road projects in India.

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GMR Airports Infrastructure (GMRI IN)

Transport Titbits - An Airport Transaction on the Runway?

GMR Airports has met the investor test in New Zealand in anticipation of a potential acquisition. The most likely targets for GMR Airports in New...

Forsyth Barr

Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Schloss Bangalore Limited (SBL) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around...

Akshat Shah

Vikran Engineering Limited Pre-IPO - Capitalizing On Core Competencies But With Concentration Risks

Vikran Engineering Limited plans to raise $119m in India IPO, with fastest growth in profitability according to CRISIL Report.

Rosita Fernandes

Quiddity Leaderboard BSE/SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

The reference period ends today (31st October). Our BSE 100 expected ADDs/DELs remain unchanged. For BSE 200, all expected ADDs/DELs mentioned in...

Janaghan Jeyakumar, CFA

The Beat Ideas: GMR Power & Urban Infra Limited- The Surprising Star in GMR Group’s Portfolio

GMR Power & Urban Infra, post-demerger, focuses on energy, smart metering, and urban infra sectors with key growth catalysts in smart metering and...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Transport Titbits - An Airport Transaction on the Runway?

GMR Airports has met the investor test in New Zealand in anticipation of a potential acquisition. The most likely targets for GMR Airports in New...

Forsyth Barr

Schloss Bangalore IPO - Growth Has Softened; Corporate Structure Reorganised

Schloss Bangalore Limited (SBL) is looking to raise about US$409m in its India IPO. The deal has been downsized from an earlier size of around...

Akshat Shah

Vikran Engineering Limited Pre-IPO - Capitalizing On Core Competencies But With Concentration Risks

​Vikran Engineering Limited plans to raise $119m in India IPO, with fastest growth in profitability according to CRISIL Report.

Rosita Fernandes

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

The reference period ends today (31st October). Our BSE 100 expected ADDs/DELs remain unchanged. For BSE 200, all expected ADDs/DELs mentioned in...

Janaghan Jeyakumar, CFA

The Beat Ideas: GMR Power & Urban Infra Limited- The Surprising Star in GMR Group’s Portfolio

​GMR Power & Urban Infra, post-demerger, focuses on energy, smart metering, and urban infra sectors with key growth catalysts in smart metering and...

Sudarshan Bhandari

Vikran Engineering Limited plans to raise $119m in India IPO, with fastest growth in profitability according to CRISIL Report.

Quiddity Leaderboard BSE/SENSEX Dec 24: Some Changes to Expectations + Zomato Question Mark

GMR Power & Urban Infra, post-demerger, focuses on energy, smart metering, and urban infra sectors with key growth catalysts in smart metering and...