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.

Event-Driven

<ul>
<li>In Nov 2021, Paytm raised around US$2.2bn via selling a mix of primary and secondary shares in its IPO. </li>
<li>The company is backed by <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba (ADR) (BABA US)</a>, <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> and counts <a href="https://www.smartkarma.com/entities/berkshire-hathaway-inc-cl-a" target="_blank" data-smartkarma-citation="entities:1044:1" rel="noopener">Berkshire Hathaway Inc Cl A (BRK/A US)</a> among its investors. </li>
<li>In this note, we will talk about the upcoming lockup expiry.</li>
</ul>


In Nov 2021, Paytm raised around US$2.2bn via selling a mix of primary and secondary shares in its IPO. 
The company is backed by Alibaba (ADR) (BABA US), Softbank Group (9984 JP) and counts Berkshire Hathaway Inc Cl A (BRK/A US) among its investors. 
In this note, we will talk about the upcoming lockup expiry.


Paytm (One 97) Lockup - US$4bn+ Lockup Expiry, Some Large Shareholders Are Underwater, a Lot Aren’t

Senior Equity Derivatives Trader

Simon Harris

<ul>
<li>We screen the NIFTY Index components for yield enhancing opportunites</li>
<li>We screen for expensive options and combine with stock performances to find the best candidates</li>
<li>We identity 6 stocks where selling short-term premium makes sense</li>
</ul>


We screen the NIFTY Index components for yield enhancing opportunites
We screen for expensive options and combine with stock performances to find the best candidates
We identity 6 stocks where selling short-term premium makes sense


EQD | NIFTY Index: Option Selling Strategies for Short-Term Yield  (RIL,SBIN,SBILIFE,COAL,INFY,BRIT)

Equity Capital Markets

InterGlobe Aviation Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">InterGlobe Aviation Ltd (INDIGO IN)</a>’s co-founder Rakesh Gangwal aims to raise around US$250m via selling 2.8% of the company.</li>
<li>He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with the other co-founder Rahul Bhatia. </li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



InterGlobe Aviation Ltd (INDIGO IN)’s co-founder Rakesh Gangwal aims to raise around US$250m via selling 2.8% of the company.
He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with the other co-founder Rahul Bhatia. 
In this note, we will talk about the placement and run the deal through our ECM framework.


Interglobe Aviation (Indigo) Placement - The Beginning of the End of the Overhang

<div><p><a href="https://www.smartkarma.com/entities/zomato-media-pvt" target="_blank" data-smartkarma-citation="entities:28820:1" rel="noopener">Zomato (ZOM IN)</a>  aims to raise US$1.1bn in its upcoming India IPO. This would be the largest listing in India from the technology sector.</p></div><div>
<p>Zomato operates a technology platform that provides services for restaurant partners, customers, and delivery partners. During FY20, Zomato recorded 41.5m average MAU and was one of the leading Food Services platforms in India, in terms of value of goods sold, according to RedSeer. As of 31 Dec 20, it had a presence in 526 Indian cities and had 350,174 active restaurant listings.</p>
<p>We covered a little bit of the the company's history in <a href="https://www.smartkarma.com/insights/zomato-pre-ipo-filings-lack-narrative-a-little-bit-of-history-helps" target="_blank" rel="noopener">Zomato Pre-IPO - Filings Lack Narrative, a Little Bit of History Helps</a>.</p>
<p>In this note, we will talk about the financials.</p>
</div>

Zomato (ZOM IN)  aims to raise US$1.1bn in its upcoming India IPO. This would be the largest listing in India from the technology sector.
Zomato operates a technology platform that provides services for restaurant partners, customers, and delivery partners. During FY20, Zomato recorded 41.5m average MAU and was one of the leading Food Services platforms in India, in terms of value of goods sold, according to RedSeer. As of 31 Dec 20, it had a presence in 526 Indian cities and had 350,174 active restaurant listings.
We covered a little bit of the the company's history in Zomato Pre-IPO - Filings Lack Narrative, a Little Bit of History Helps.
In this note, we will talk about the financials.


Zomato Pre-IPO - Food Delivery Revenue Was Probably up 16x

Nexus Select Trust / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nexus-select-trust" target="_blank" data-smartkarma-citation="entities:36566:1" rel="noopener">Nexus Select Trust (NST IN)</a> raised around US$391m in its India IPO in May 2023.</li>
<li>NST is a REIT with a portfolio of 17 Grade A urban consumption centers. Its portfolio covers retail malls, office assets, hospitality assets and a renewable power plant. </li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Nexus Select Trust (NST IN) raised around US$391m in its India IPO in May 2023.
NST is a REIT with a portfolio of 17 Grade A urban consumption centers. Its portfolio covers retail malls, office assets, hospitality assets and a renewable power plant. 
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Nexus Select Trust IPO Lockup Expiry - US$1.5bn Stake Comes Free. Will Likely Be a Coordinated Exit

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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Infosys Ltd (INFO IN)

Paytm (One 97) Lockup - US$4bn+ Lockup Expiry, Some Large Shareholders Are Underwater, a Lot Aren’t

In Nov 2021, Paytm raised around US$2.2bn via selling a mix of primary and secondary shares in its IPO. In this note, we talk about the upcoming...

Sumeet Singh

EQD | NIFTY Index: Option Selling Strategies for Short-Term Yield (RIL,SBIN,SBILIFE,COAL,INFY,BRIT)

A look at the single stocks in the NIFTY Index to identify candidates for over/underwrites and strangle selling. We highlight 6 trades.

Simon Harris

Interglobe Aviation (Indigo) Placement - The Beginning of the End of the Overhang

InterGlobe Aviation Ltd (INDIGO IN)’s co-founder Rakesh Gangwal aims to raise around US$250m via selling 2.8% of the company.

Sumeet Singh

Zomato Pre-IPO - Food Delivery Revenue Was Probably up 16x

Zomato aims to raise US$1.1bn in its upcoming India IPO. This would be the largest listing in India from the technology sector.

Sumeet Singh

Nexus Select Trust IPO Lockup Expiry - US$1.5bn Stake Comes Free. Will Likely Be a Coordinated Exit

Nexus Select Trust (NST IN) raised around US$391m in its India IPO in May 2023. The company's pre-IPO shareholders will be released from their...

Sumeet Singh

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52-week Range

Market Cap (USDm)

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