APAC IPOs & Placements, Aequitas Research

Rosita Fernandes

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

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

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Thematic (Sector/Industry)

<ul>
<li>India's nuclear power capacity is projected to surge 2.7 times by 2031, reaching 22.3 GW and creating a lucrative investment landscape. </li>
<li>This expansion will unlock opportunities for companies like <a href="https://www.smartkarma.com/entities/bharat-heavy-electricals" target="_blank" data-smartkarma-citation="entities:460:1" rel="noopener">Bharat Heavy Electricals (BHEL IN)</a>, <a href="https://www.smartkarma.com/entities/walchandnagar-industries" target="_blank" data-smartkarma-citation="entities:9114:1" rel="noopener">Walchandnagar Industries (WI IN)</a>, and <a href="https://www.smartkarma.com/entities/hindustan-construction-co" target="_blank" data-smartkarma-citation="entities:6446:1" rel="noopener">Hindustan Construction Co (HCC IN)</a> in manufacturing, construction, and auxiliary services. </li>
<li>The rollout of 50 Bharat Small Reactors (BSRs) presents a particularly enticing prospect with a projected investment of Rs. 2,00,000 Crore.</li>
</ul>


India's nuclear power capacity is projected to surge 2.7 times by 2031, reaching 22.3 GW and creating a lucrative investment landscape. 
This expansion will unlock opportunities for companies like Bharat Heavy Electricals (BHEL IN), Walchandnagar Industries (WI IN), and Hindustan Construction Co (HCC IN) in manufacturing, construction, and auxiliary services. 
The rollout of 50 Bharat Small Reactors (BSRs) presents a particularly enticing prospect with a projected investment of Rs. 2,00,000 Crore.


Thematic Report: India's Nuclear Power Boom: A 2.7x Growth Story

<ul>
<li>Listed corporate capex is experiencing a surge, exceeding the previous cycle peak and mirroring the pre-boom phase of 2001-2004.</li>
<li>Government capex is poised to accelerate, particularly in the second half of FY25, fuelled by election-related spending patterns.</li>
<li>India's investment rate is nearing a decadal high, reflecting a strong appetite for capital expenditure across various sectors.</li>
</ul>


Listed corporate capex is experiencing a surge, exceeding the previous cycle peak and mirroring the pre-boom phase of 2001-2004.
Government capex is poised to accelerate, particularly in the second half of FY25, fuelled by election-related spending patterns.
India's investment rate is nearing a decadal high, reflecting a strong appetite for capital expenditure across various sectors.


Thematic Report: Indian Capex Cycle Analysis- A Macro Perspective

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not reached yet, as discussed in <a href="https://www.smartkarma.com/insights/covid-19-how-does-india-fare-currently" target="_blank" data-smartkarma-citation="insights:38227" rel="noopener">COVID-19: How Does India Fare Currently?</a> Unsurprisingly, the government has extended the nation-wide lockdown to a further 19 days till May 3rd. While the extension was anticipated by many, the government has also decided to free up some economic activities post 20th April, subject to certain criteria (the guideline is embedded in the insight). Post the extension announcement, the government had segregated 700+ districts into hotspots, non-hotspots and green zones; it is green zones are where certain economic activities will resume on 20th April. In this insight, we try to decipher the possible beneficiaries arising from this 'free-up'

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not reached yet, as discussed in COVID-19: How Does India Fare Currently? Unsurprisingly, the government has extended the nation-wide lockdown to a further 19 days till May 3rd. While the extension was anticipated by many, the government has also decided to free up some economic activities post 20th April, subject to certain criteria (the guideline is embedded in the insight). Post the extension announcement, the government had segregated 700+ districts into hotspots, non-hotspots and green zones; it is green zones are where certain economic activities will resume on 20th April. In this insight, we try to decipher the possible beneficiaries arising from this 'free-up'

COVID-19 : Intermediate Respite for Some Businesses

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<ul><li>Sales to domestic construction sector expected to recover<ul><li>In 2016 the Japanese machinery for construction, mining and quarrying industry remained in negative territory for a second year running thanks to declining domestic demand.</li></ul></li><li>Demand for mining equipment upswing likely after long downturn<ul><li>Japanese mining machinery manufacturers experienced another year of flat turnover growth in 2016, thanks to the global slowdown in mining activities following the slump in commodity prices.</li></ul></li><li>Exports poised to return to growth<ul><li>Japan-made construction and mining machinery exports continued to experience year-on-year decline in 2016, placing further downwards pressure on the industry’s performance.</li></ul></li></ul>

Sales to domestic construction sector expected to recoverIn 2016 the Japanese machinery for construction, mining and quarrying industry remained in negative territory for a second year running thanks to declining domestic demand.Demand for mining equipment upswing likely after long downturnJapanese mining machinery manufacturers experienced another year of flat turnover growth in 2016, thanks to the global slowdown in mining activities following the slump in commodity prices.Exports poised to return to growthJapan-made construction and mining machinery exports continued to experience year-on-year decline in 2016, placing further downwards pressure on the industry’s performance.

Industrial Capsule: Machinery for Construction, Mining and Quarrying in Japan

India

Hindustan Construction Limited undertakes large engineering and construction projects in India and abroad.  The Company's projects include bridges, tunnels, gas pipelines and power stations.

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Hindustan Construction Co (HCC IN)

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

Thematic Report: India's Nuclear Power Boom: A 2.7x Growth Story

India's nuclear power capacity set to surge 2.7 times by 2031, creating investment opportunities for companies like BHEL, Walchandnagar & HCC .

Nimish Maheshwari

Thematic Report: Indian Capex Cycle Analysis- A Macro Perspective

Corporate and government capex in India are on the rise, with investment rates nearing a decade high, signaling strong growth potential in various...

Nimish Maheshwari

COVID-19 : Intermediate Respite for Some Businesses

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not...

Nitin Mangal

Industrial Capsule: Machinery for Construction, Mining and Quarrying in Japan

Sales to domestic construction sector expected to recoverIn 2016 the Japanese machinery for construction, mining and quarrying industry remained...

Euromonitor International Ltd.

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Thematic Report: India's Nuclear Power Boom: A 2.7x Growth Story

​India's nuclear power capacity set to surge 2.7 times by 2031, creating investment opportunities for companies like BHEL, Walchandnagar & HCC .

Nimish Maheshwari

Thematic Report: Indian Capex Cycle Analysis- A Macro Perspective

​Corporate and government capex in India are on the rise, with investment rates nearing a decade high, signaling strong growth potential in various...

Nimish Maheshwari

COVID-19 : Intermediate Respite for Some Businesses

The COVID-19 crisis in India is surmounting as the number of tests and positive cases each day are reaching new highs while the peak has not...

Nitin Mangal

Industrial Capsule: Machinery for Construction, Mining and Quarrying in Japan

Sales to domestic construction sector expected to recoverIn 2016 the Japanese machinery for construction, mining and quarrying industry remained...

Euromonitor International Ltd.

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

India's nuclear power capacity set to surge 2.7 times by 2031, creating investment opportunities for companies like BHEL, Walchandnagar & HCC .

Corporate and government capex in India are on the rise, with investment rates nearing a decade high, signaling strong growth potential in various...