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

<ul>
<li>Government of India raised around US$513m via selling some of its stake in <a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom's</a> IPO.</li>
<li>Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>


Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO.
Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

<ul>
<li>Crizac is looking to raise US$120m in its upcoming India IPO. The bookrunners on the deal are Equirus and Anand Rathi.</li>
<li>Crizac is an education platform offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ).</li>
<li>Crizac is one of the largest student recruitment solutions providers from India to the UK with a market share of 13.0%, in terms of the number of students in 2023.</li>
</ul>


Crizac is looking to raise US$120m in its upcoming India IPO. The bookrunners on the deal are Equirus and Anand Rathi.
Crizac is an education platform offering international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, Republic of Ireland, Australia and New Zealand (ANZ).
Crizac is one of the largest student recruitment solutions providers from India to the UK with a market share of 13.0%, in terms of the number of students in 2023.


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

Event-Driven

Aditya Birla Fashion and Retail Ltd / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aditya-birla-fashion-and-retail-ltd" target="_blank" data-smartkarma-citation="entities:19048:1" rel="noopener">Aditya Birla Fashion and Retail Ltd (ABFRL IN)</a> on 1st April announced a vertical demerger and separate listing of its matured and asset-light Madura brand portfolio.</li>
<li>Assessment of demerger: whether it is seriously a value creation opportunity or just a strategic gimmick for merger-demerger in Mega Bull Run.</li>
<li>Valuation of <a href="https://www.smartkarma.com/entities/aditya-birla-fashion-and-retail-ltd" target="_blank" data-smartkarma-citation="entities:19048:1" rel="noopener">Aditya Birla Fashion and Retail Ltd (ABFRL IN)</a> , whether any juice left in the company?</li>
</ul>



Aditya Birla Fashion and Retail Ltd (ABFRL IN) on 1st April announced a vertical demerger and separate listing of its matured and asset-light Madura brand portfolio.
Assessment of demerger: whether it is seriously a value creation opportunity or just a strategic gimmick for merger-demerger in Mega Bull Run.
Valuation of Aditya Birla Fashion and Retail Ltd (ABFRL IN) , whether any juice left in the company?


ABFRL's Demerger: A Game-Changer or a Gamble?

<ul>
<li>ChrysCap is looking to raise around US$295m via selling a 2.8% stake in <a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a>.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>We have looked at the IPO, lock-up release and prior placement in our earlier notes. In this note, we talk about the current deal dynamics.</li>
</ul>


ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
We have looked at the IPO, lock-up release and prior placement in our earlier notes. In this note, we talk about the current deal dynamics.


Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom</a> is looking to raise up to US$1bn in its upcoming India IPO.</li>
<li>Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Bharti Hexacom is looking to raise up to US$1bn in its upcoming India IPO.
Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
In this note, we talk about the not-so-positive aspects of the deal.


Bharti Hexacom Pre-IPO - The Negatives - No Clear Rationale for Listing

India

ICICI Bank Limited operates as a bank. The Bank offers saving accounts, loans, debit, credit cards, insurance, investments, mortgages, and online banking services. ICICI Bank serves customers worldwide.

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ICICI Bank Ltd (ICICIBC IN)

Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO. In this note, we talk about the demand and trading...

Sumeet Singh

Crizac Pre-IPO Tearsheet

Crizac Limited is looking to raise US$120m in its upcoming India IPO. The bookrunners on the deal are Equirus and Anand Rathi.

Sumeet Singh

ABFRL's Demerger: A Game-Changer or a Gamble?

Aditya Birla Fashion and Retail Ltd announces vertical demerger of Madura brand portfolio, sparking debate on value creation vs strategic gimmick...

Nimish Maheshwari

Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma. In this note, we talk about the deal dynamics.

Sumeet Singh

Bharti Hexacom Pre-IPO - The Negatives - No Clear Rationale for Listing

The company is said to be looking to launch its IPO next week, which will entirely comprise of an offer for sale of half of the stake of Government...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO. In this note, we talk about the demand and trading...

Sumeet Singh

Crizac Pre-IPO Tearsheet

Crizac Limited is looking to raise US$120m in its upcoming India IPO. The bookrunners on the deal are Equirus and Anand Rathi.

Sumeet Singh

ABFRL's Demerger: A Game-Changer or a Gamble?

​Aditya Birla Fashion and Retail Ltd announces vertical demerger of Madura brand portfolio, sparking debate on value creation vs strategic gimmick...

Nimish Maheshwari

Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma. In this note, we talk about the deal dynamics.

Sumeet Singh

Bharti Hexacom Pre-IPO - The Negatives - No Clear Rationale for Listing

The company is said to be looking to launch its IPO next week, which will entirely comprise of an offer for sale of half of the stake of Government...

Sumeet Singh

Aditya Birla Fashion and Retail Ltd announces vertical demerger of Madura brand portfolio, sparking debate on value creation vs strategic gimmick...