ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility
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.
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Pine Labs IPO Trading - Low/No Demand
Pine Labs raised around US$450m in its India IPO. Overall demand was weak. In this note we talk about the trading dynamics.
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Klook Pre-IPO - The Positives - Growth Has Been Very Strong
Klook (KLK US), a pan-regional experiences platform in Asia-Pacific, aims to raise around US$500m in its US listing. In this note, we talk about...
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Pine Labs IPO - RHP Updates and Thoughts on Valuation
Pine Labs is now looking to raise up to US$450m in its upcoming India IPO. In this note, we talk about the RHP updates and valuations.
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WeRide Secondary HK Offering - Is Relatively Cheaper but Lacks Momentum
WeRide (WRD US) plans to raise around US$350m in its secondary listing in Hong Kong. In this note, we talk about the deal dynamics.
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