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>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.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a> manage to stay above its IPO price, which should help the overall market</li>
<li>There were a few lockup expiry linked placements in the past week.</li>
</ul>


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.
On the IPO front, SpaceX (SPCX US) manage to stay above its IPO price, which should help the overall market
There were a few lockup expiry linked placements in the past week.


Aequitas ECM Weekly (15 June 2026) - SpaceX, GO, Lingyi, Nexchip, SG Micro, Semi-Tech, BIWIN, ICICI

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aequs-ltd" target="_blank" data-smartkarma-citation="entities:45903:1" rel="noopener">Aequs Ltd (1009206D IN)</a> raised about US$104m in its India IPO in Dec 2025. The lockup on its promoters and pre-IPO investors is set to expire soon.</li>
<li>Aequs is an Indian aerospace precision component manufacturer providing vertically integrated product solutions for the aerospace and consumer industries, serving global OEMs and Tier-1 suppliers.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Aequs Ltd (1009206D IN) raised about US$104m in its India IPO in Dec 2025. The lockup on its promoters and pre-IPO investors is set to expire soon.
Aequs is an Indian aerospace precision component manufacturer providing vertically integrated product solutions for the aerospace and consumer industries, serving global OEMs and Tier-1 suppliers.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Aequs Ltd IPO Lockup Expiry - US$933m Lockup Release

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>April 2026 insider activity was weak due to ongoing silent period during earnings season.</li>
<li>We highlight large and small cap companies that experienced significant insider buying during April 2026, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
</ul>


April 2026 insider activity was weak due to ongoing silent period during earnings season.
We highlight large and small cap companies that experienced significant insider buying during April 2026, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.


Insider Activity: Who Bought Their Own Stock in April 2026

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

Equity Derivatives

<ul>
<li>SBI Funds Management filed its DRHP with SEBI on 19 March 2026 targeting a September 2026 listing.</li>
<li>While NSE in which SBI and SBI Caps hold a combined 7.56%, is preparing to file its DRHP by Jun-26 after receiving SEBI's NOC in January.</li>
<li>With 30% discount to the NSE stake and other subsidiary valuation, still SBI has potential for 18% upside based on SoTP valuation.</li>
</ul>


SBI Funds Management filed its DRHP with SEBI on 19 March 2026 targeting a September 2026 listing.
While NSE in which SBI and SBI Caps hold a combined 7.56%, is preparing to file its DRHP by Jun-26 after receiving SEBI's NOC in January.
With 30% discount to the NSE stake and other subsidiary valuation, still SBI has potential for 18% upside based on SoTP valuation.


SBI's Hidden Balance Sheet:Two Events That Could Re-Rate India's Biggest Bank

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pine-labs-limited" target="_blank" data-smartkarma-citation="entities:33472:1" rel="noopener">Pine Labs (PINELABS IN)</a> raised around US$450m in its India IPO in its India IPO in November 2025. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Pine Labs (PL) is a fintech firm focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Pine Labs (PINELABS IN) raised around US$450m in its India IPO in its India IPO in November 2025. The lockup on its pre-IPO investors is set to expire soon.
Pine Labs (PL) is a fintech firm focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Pine Labs Lockup Expiry - US$2bn Lockup Release for 85% of the Company

India

ICICI Prudential Asset Management Company is a leading Indian asset management firm that offers a diverse range of investment solutions, including mutual funds, portfolio management services (PMS), and alternative investment funds (AIFs). It provides savings and investment products across various financial asset classes to both retail and institutional investors. The company was founded in 1993 and is headquartered in Mumbai, India.

ICICI Prudential Asset Management Company (ICICIAMC IN)

ICICI Prudential Asset Management Company

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ICICI Prudential Asset Management Company (ICICIAMC IN)

Aequitas ECM Weekly (15 June 2026) - SpaceX, GO, Lingyi, Nexchip, SG Micro, Semi-Tech, BIWIN, ICICI

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.

Sumeet Singh

Aequitas: Aequs Ltd IPO Lockup Expiry - US$933m Lockup Release

Aequs Ltd raised about US$104m in its India IPO in Dec 2025. The lockup on its promoters and pre-IPO investors is set to expire soon.

Akshat Shah

Insider Activity: Who Bought Their Own Stock in April 2026

While Insider Buying activity has declined in the month of May'26, there are still few large notable companies coming in the list including HCL...

Sreemant Dudhoria

SBI's Hidden Balance Sheet:Two Events That Could Re-Rate India's Biggest Bank

SBI Funds Management files DRHP for September 2026 listing, potential 70% upside based on SoTP valuation despite 30% discount to NSE and its...

Sudarshan Bhandari

Aequitas: Pine Labs Lockup Expiry - US$2bn Lockup Release for 85% of the Company

Pine Labs (PINELABS IN) raised around US$450m in its India IPO in its India IPO in November 2025. The lockup on its pre-IPO investors is set to...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas ECM Weekly (15 June 2026) - SpaceX, GO, Lingyi, Nexchip, SG Micro, Semi-Tech, BIWIN, ICICI

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.

Sumeet Singh

Aequitas: Aequs Ltd IPO Lockup Expiry - US$933m Lockup Release

Aequs Ltd raised about US$104m in its India IPO in Dec 2025. The lockup on its promoters and pre-IPO investors is set to expire soon.

Akshat Shah

Insider Activity: Who Bought Their Own Stock in April 2026

While Insider Buying activity has declined in the month of May'26, there are still few large notable companies coming in the list including HCL...

Sreemant Dudhoria

SBI's Hidden Balance Sheet:Two Events That Could Re-Rate India's Biggest Bank

​SBI Funds Management files DRHP for September 2026 listing, potential 70% upside based on SoTP valuation despite 30% discount to NSE and its...

Sudarshan Bhandari

Aequitas: Pine Labs Lockup Expiry - US$2bn Lockup Release for 85% of the Company

Pine Labs (PINELABS IN) raised around US$450m in its India IPO in its India IPO in November 2025. The lockup on its pre-IPO investors is set to...

Sumeet Singh

SBI Funds Management files DRHP for September 2026 listing, potential 70% upside based on SoTP valuation despite 30% discount to NSE and its...