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

<ul>
<li>360 ONE WAM acquires UBS AG’s onshore wealth management business in India for INR 307 crore, adding INR 26,000 crore AUM and expanding its product and client base.</li>
<li>This acquisition strengthens 360 ONE's domestic position and offers UBS’s global expertise, creating a powerful, dual-access wealth management platform for global Indians, enhancing growth opportunities.</li>
<li>The deal signifies a strategic collaboration, not just an exit, with UBS retaining a stake&amp; expanding its Indian operations through 360 ONE, enhancing the value proposition for both firms’ clients.</li>
</ul>


360 ONE WAM acquires UBS AG’s onshore wealth management business in India for INR 307 crore, adding INR 26,000 crore AUM and expanding its product and client base.
This acquisition strengthens 360 ONE's domestic position and offers UBS’s global expertise, creating a powerful, dual-access wealth management platform for global Indians, enhancing growth opportunities.
The deal signifies a strategic collaboration, not just an exit, with UBS retaining a stake&amp; expanding its Indian operations through 360 ONE, enhancing the value proposition for both firms’ clients.


360 ONE WAM Acquires UBS India Wealth Business

APAC IPOs & Placements, Aequitas Research

Akshat Shah

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nextbillion-technology-pvt-ltd-groww" target="_blank" data-smartkarma-citation="entities:34787:1" rel="noopener">Groww (1573648D IN)</a> raised around US$747m in its India IPO. Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services.</li>
<li>With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Groww (1573648D IN) raised around US$747m in its India IPO. Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services.
With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Groww IPO Trading - Decent Overall Demand

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nextbillion-technology-pvt-ltd-groww" target="_blank" data-smartkarma-citation="entities:34787:1" rel="noopener">Groww (1573648D IN)</a> is looking to raise around US$747m in its India IPO.Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services.</li>
<li>With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans.</li>
<li>In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the peer comp and implied valuations in the price range.</li>
</ul>



Groww (1573648D IN) is looking to raise around US$747m in its India IPO.Groww, officially called Billionbrains Garage Ventures, is a direct-to-customer digital investment platform providing multiple financial products and services.
With Groww, customers can invest and trade in stocks (including via IPOs), derivatives, bonds, mutual funds and other products. Customers can also avail margin trading facility and personal loans.
In our earlier notes, we have looked at the company’s past performance. In this note, we talk about the peer comp and implied valuations in the price range.


Groww IPO - Peer Comp and Thoughts on Valuation

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Equity Bottom-Up

Nuvama Wealth Management / Equity Bottom-Up

<ul>
<li>Nuvama Wealth is capitalizing on India's burgeoning financialization trend, with its re-branding and strategic focus on affluent and ultra-high-net-worth individuals (UHNIs) driving strong growth in client assets and profitability. 
</li>
<li>As India’s wealth management market matures and faces increasing regulatory scrutiny, Nuvama’s differentiated model position it uniquely to capture a larger share of the shifting landscape.</li>
<li>
Nuvama’s integrated platform and execution-focused management team are navigating industry-wide challenges, from tightening regulatory framework to sustain a growth trajectory that is outperforming peers and creating long-term value.</li>
</ul>


Nuvama Wealth is capitalizing on India's burgeoning financialization trend, with its re-branding and strategic focus on affluent and ultra-high-net-worth individuals (UHNIs) driving strong growth in client assets and profitability. 

As India’s wealth management market matures and faces increasing regulatory scrutiny, Nuvama’s differentiated model position it uniquely to capture a larger share of the shifting landscape.

Nuvama’s integrated platform and execution-focused management team are navigating industry-wide challenges, from tightening regulatory framework to sustain a growth trajectory that is outperforming peers and creating long-term value.


The Beat Ideas: Nuvama Wealth – India’s Affluence Story at the Right Price?

Thematic (Sector/Industry)

<ul>
<li>India's wealth management sector is at an inflection point, with listed firms showing robust growth driven by rising affluence and a cultural shift to financial savings.</li>
<li>With favorable demographics and increasing financialization, the sector is poised for a multi-decade growth trajectory, making it a compelling long-term story for investment.</li>
<li>Here we are comparing 4 wealth management giants in different parameters and what there management is saying about future growth.</li>
</ul>


India's wealth management sector is at an inflection point, with listed firms showing robust growth driven by rising affluence and a cultural shift to financial savings.
With favorable demographics and increasing financialization, the sector is poised for a multi-decade growth trajectory, making it a compelling long-term story for investment.
Here we are comparing 4 wealth management giants in different parameters and what there management is saying about future growth.


Thematic Report: PEER ANALYSIS of India's Wealth Management Giants

India

IIFL Wealth Management Limited operates as a private wealth management firm. The Company offers investment products, treasury advisory, lending solutions, and estate planning services. IIFL Wealth Management serves customers worldwide.

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IIFL Wealth Management (IIFLWAM IN)

360 ONE WAM Acquires UBS India Wealth Business

360 ONE WAM acquires UBS AG's onshore wealth management business in India, strengthening its domestic position and creating a powerful wealth...

Nimish Maheshwari

Groww IPO Trading - Decent Overall Demand

Groww raised around US$747m in its India IPO. In this note, we will talk about the subscription demand and the trading dynamics.

Akshat Shah

Groww IPO - Peer Comp and Thoughts on Valuation

Groww is looking to raise around US$747m in its India IPO. In this note, we talk about the peer comp and implied valuations in the price range.

Akshat Shah

The Beat Ideas: Nuvama Wealth – India’s Affluence Story at the Right Price?

SEBI has granted approval on October 1, 2025, for the Company to act as sponsor and set up Nuvama Mutual Fund, including schemes under the...

Sudarshan Bhandari

Thematic Report: PEER ANALYSIS of India's Wealth Management Giants

India's wealth management sector is experiencing robust growth due to rising affluence and a cultural shift to financial savings, making it a...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

360 ONE WAM Acquires UBS India Wealth Business

​360 ONE WAM acquires UBS AG's onshore wealth management business in India, strengthening its domestic position and creating a powerful wealth...

Nimish Maheshwari

Groww IPO Trading - Decent Overall Demand

Groww raised around US$747m in its India IPO. In this note, we will talk about the subscription demand and the trading dynamics.

Akshat Shah

Groww IPO - Peer Comp and Thoughts on Valuation

Groww is looking to raise around US$747m in its India IPO. In this note, we talk about the peer comp and implied valuations in the price range.

Akshat Shah

The Beat Ideas: Nuvama Wealth – India’s Affluence Story at the Right Price?

SEBI has granted approval on October 1, 2025, for the Company to act as sponsor and set up Nuvama Mutual Fund, including schemes under the...

Sudarshan Bhandari

Thematic Report: PEER ANALYSIS of India's Wealth Management Giants

​India's wealth management sector is experiencing robust growth due to rising affluence and a cultural shift to financial savings, making it a...

Nimish Maheshwari

360 ONE WAM acquires UBS AG's onshore wealth management business in India, strengthening its domestic position and creating a powerful wealth...

India's wealth management sector is experiencing robust growth due to rising affluence and a cultural shift to financial savings, making it a...