Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

LG Electronics India / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> is looking to raise US$1.3bn via part-selling its stake in <a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics India</a>.</li>
<li>LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.</li>
<li>We have looked at the company’s past performance and undertaken a peer comparison in our previous note. In this note, we talk about valuations.</li>
</ul>



LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India.
LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.
We have looked at the company’s past performance and undertaken a peer comparison in our previous note. In this note, we talk about valuations.


LG Electronics India IPO - Thoughts on Valuation - Better Placed This Time Around

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-electronics-inc" target="_blank" data-smartkarma-citation="entities:8814:1" rel="noopener">LG Electronics (066570 KS)</a> is looking to raise US$1.3bn via part-selling its stake in <a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics India</a>.</li>
<li>LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.</li>
<li>We have looked at the company’s past performance in our previous note, in this note we talk about the RHP updates and refresh our peer comparison</li>
</ul>



LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India.
LG Electronics India (LGEI) was the market leader in India in major home appliances and consumer electronics (excluding mobile phones) in terms of volume, as per Redseer Report.
We have looked at the company’s past performance in our previous note, in this note we talk about the RHP updates and refresh our peer comparison


LG Electronics India IPO - RHP Updates and Peer Comparison Refresh.

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the <em>next</em> 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the March 2026 index rebal event.</li>
<li>We see no changes for NIFTY 50 and three changes for NIFTY 100 (which would result in similar changes to NIFTY Next 50).</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for these indices during the March 2026 index rebal event.
We see no changes for NIFTY 50 and three changes for NIFTY 100 (which would result in similar changes to NIFTY Next 50).


Quiddity Leaderboard NIFTY Mar26: Hindustan Aeronautics and Adani Enterprises Close to the Borders

National Securities Depository / Equity Capital Markets

<ul>
<li>National Securities Depository Limited <a href="https://www.smartkarma.com/entities/national-securities-depository-ltd-nsdl" target="_blank" data-smartkarma-citation="entities:39939:1" rel="noopener">NSDL (NSDL IN)</a> raised around US$460m in its India IPO.</li>
<li>It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the demand and trading dynamics.</li>
</ul>


National Securities Depository Limited NSDL (NSDL IN) raised around US$460m in its India IPO.
It is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets.
We have looked at the past performance in our previous note. In this note, we talk about the demand and trading dynamics.


National Securities Depository Limited (NSDL) IPO Trading - Strong Demand, Set for a Pop

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

CG Power and Industrial Solutions / Index Rebalance

CG Power and Industrial Solutions (CGPOWER IN)

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-March and/or end-December.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 11 stocks with passive inflows from global trackers while 5 could have passive outflows in August.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-June in July. There are companies with significant float changes from end-March and/or end-December.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.
Depending on the date that the shareholding was published, there could be 11 stocks with passive inflows from global trackers while 5 could have passive outflows in August.


India: Potential Free Float Changes & Passive Flows in August

India

HDFC Asset Management is a leading Indian investment manager, serving as the asset management arm of HDFC Bank. It provides a comprehensive suite of savings and investment products, including mutual funds, portfolio management services (PMS), and alternative investment funds (AIF) across various asset classes. The company is headquartered in Mumbai, Maharashtra, India, and was founded in 1999 (commenced operations in 2000).

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HDFC Asset Management (HDFCAMC IN)

LG Electronics India IPO - Thoughts on Valuation - Better Placed This Time Around

LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India. In this note, we talk about valuations.

Sumeet Singh

LG Electronics India IPO - RHP Updates and Peer Comparison Refresh.

LG Electronics (066570 KS) is looking to raise US$1.3bn via part-selling its stake in LG Electronics India. In this note, we talk about the...

Sumeet Singh

Quiddity Leaderboard NIFTY Mar26: Hindustan Aeronautics and Adani Enterprises Close to the Borders

We see Hindustan Aeronautics (HNAL IN) as the highest-ranked potential ADD and Adani Enterprises (ADE IN) as the highest-ranked potential DEL for...

Janaghan Jeyakumar, CFA

National Securities Depository Limited (NSDL) IPO Trading - Strong Demand, Set for a Pop

National Securities Depository Limited NSDL (NSDL IN) raised around US$460m in its India IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

India: Potential Free Float Changes & Passive Flows in August

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 2...

Brian Freitas

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