Forensics and Corporate Governance Analyst, Beat the Street

Nimish Maheshwari

Forensics and Corporate Governance 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

Forensic Accounting

<ul>
<li>Recent RBI and SEBI actions unveil irregularities in <a href="https://www.smartkarma.com/entities/jm-financial-ltd" target="_blank" data-smartkarma-citation="entities:7475:1" rel="noopener">JM Financial (JM IN)</a> Products IPO financing, exposing risks in NBFC-led subscriptions.</li>
<li>Ensuring market integrity and investor protection, regulatory scrutiny highlights governance lapses, urging transparency and accountability.</li>
<li>Prompts investor caution, demanding rigorous scrutiny of financial intermediaries, and reinforcing the need for robust regulatory oversight.</li>
</ul>


Recent RBI and SEBI actions unveil irregularities in JM Financial (JM IN) Products IPO financing, exposing risks in NBFC-led subscriptions.
Ensuring market integrity and investor protection, regulatory scrutiny highlights governance lapses, urging transparency and accountability.
Prompts investor caution, demanding rigorous scrutiny of financial intermediaries, and reinforcing the need for robust regulatory oversight.


Governance Under Scrutiny: RBI, SEBI Probe on JM Financial

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Bottom-Up

<ul>
<li>India's Credit Landscape has changed and is facing structural and regulatory challenges.</li>
<li>The Indian regulator (RBI), particularly in its oversight of underwriting practices and the behavior of Non-Banking Financial Companies (NBFCs), is commendably proactive, positioning it ahead of the curve.</li>
<li>We expect more such steps in other parts of the credit funnel. The recent crack down along with the stock underperformance is here to stay and possibility intensify. </li>
</ul>


India's Credit Landscape has changed and is facing structural and regulatory challenges.
The Indian regulator (RBI), particularly in its oversight of underwriting practices and the behavior of Non-Banking Financial Companies (NBFCs), is commendably proactive, positioning it ahead of the curve.
We expect more such steps in other parts of the credit funnel. The recent crack down along with the stock underperformance is here to stay and possibility intensify. 


Trouble in Paradise | India Credit Landscape & Wrath of the Regulator

APAC IPOs & Placements, Aequitas Research

Ethan Aw

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>In this note, we will take a look at broker performance for Indian IPOs and placements in 2023. </li>
<li>The following dataset includes all Indian IPOs and placements above US$100m, which amounted to a total of 66 deals. 
</li>
<li>The deals you see in this note are based on our historical IPO and placement tracker. Feel free to drop us a message for additional information.</li>
</ul>


In this note, we will take a look at broker performance for Indian IPOs and placements in 2023. 
The following dataset includes all Indian IPOs and placements above US$100m, which amounted to a total of 66 deals. 

The deals you see in this note are based on our historical IPO and placement tracker. Feel free to drop us a message for additional information.


Aequitas India IPOs + Placements Broker Performance 2023

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-securities-ltd" target="_blank" data-smartkarma-citation="entities:26737:1" rel="noopener">ICICI Securities Ltd (ISEC IN)</a> Turbulent Journey: From a disappointing IPO to a challenging delisting attempt.</li>
<li>
Delisting Plan and Shareholder Discontent: <a href="https://www.smartkarma.com/entities/icici-securities-ltd" target="_blank" data-smartkarma-citation="entities:26737:1" rel="noopener">ICICI Securities Ltd (ISEC IN)</a>  seeks to become a wholly-owned subsidiary of <a href="https://www.smartkarma.com/entities/icici-bank-ltd" target="_blank" data-smartkarma-citation="entities:547:1" rel="noopener">ICICI Bank Ltd (ICICIBC IN)</a>, facing resistance from minority shareholders.</li>
<li>
Uncertain Future: The outcome of the delisting hinges on the decisions of institutional shareholders like <a href="https://www.smartkarma.com/entities/life-insurance-corp-of-india" target="_blank" data-smartkarma-citation="entities:28829:1" rel="noopener">Life Insurance of India (LICI IN)</a>  and the board's actions.</li>
</ul>



ICICI Securities Ltd (ISEC IN) Turbulent Journey: From a disappointing IPO to a challenging delisting attempt.

Delisting Plan and Shareholder Discontent: ICICI Securities Ltd (ISEC IN)  seeks to become a wholly-owned subsidiary of ICICI Bank Ltd (ICICIBC IN), facing resistance from minority shareholders.

Uncertain Future: The outcome of the delisting hinges on the decisions of institutional shareholders like Life Insurance of India (LICI IN)  and the board's actions.


ICICI Securities Delisting: A Deja Vu of Troubles

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. </li>
<li>The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.</li>
<li>The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.</li>
</ul>


In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. 
The following dataset includes all Indian IPOs above US$100m for the period of Calendar Years 2019-2022, which amounted to a total of 49 deals.
The deals you see in this note are based on our historical IPO tracker. Feel free to drop us a message for additional information on any of these IPOs.


Aequitas India IPOs Bookrunner Performance (2019-2022)

India

JM Financial Limited is a holding company which has subsidiaries in all major financial services. The Company's services include investment banking, institutional and retail brokerage, asset management (MF & alternative assets), commodities and asset reconstruction.

JM Financial (JM IN)

Governance Under Scrutiny: RBI, SEBI Probe on JM Financial

Recent RBI & SEBI's regulatory actions reveal irregularities in JM Financials' IPO financing, NCD subscription & Governance issues.

Nimish Maheshwari

Trouble in Paradise | India Credit Landscape & Wrath of the Regulator

India's credit landscape is evolving with regulatory challenges, but the RBI's proactive oversight of NBFCs sets it ahead of the curve, with more...

Pranav Bhavsar

Aequitas India IPOs + Placements Broker Performance 2023

In this note, we will take a look at broker performance for Indian IPOs and placements in 2023, which includes all Indian IPOs and placements...

Ethan Aw

ICICI Securities Delisting: A Deja Vu of Troubles

ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...

Nimish Maheshwari

Aequitas India IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. This includes all Indian IPOs above US$100m for 2019...

Ethan Aw

Governance Under Scrutiny: RBI, SEBI Probe on JM Financial

​Recent RBI & SEBI's regulatory actions reveal irregularities in JM Financials' IPO financing, NCD subscription & Governance issues.

Nimish Maheshwari

Trouble in Paradise | India Credit Landscape & Wrath of the Regulator

​India's credit landscape is evolving with regulatory challenges, but the RBI's proactive oversight of NBFCs sets it ahead of the curve, with more...

Pranav Bhavsar

Aequitas India IPOs + Placements Broker Performance 2023

In this note, we will take a look at broker performance for Indian IPOs and placements in 2023, which includes all Indian IPOs and placements...

Ethan Aw

ICICI Securities Delisting: A Deja Vu of Troubles

​ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...

Nimish Maheshwari

Aequitas India IPOs Bookrunner Performance (2019-2022)

In this note, we will take a look at bookrunner performance for Indian IPOs from 2019-2022. This includes all Indian IPOs above US$100m for 2019...

Ethan Aw

Recent RBI & SEBI's regulatory actions reveal irregularities in JM Financials' IPO financing, NCD subscription & Governance issues.

India's credit landscape is evolving with regulatory challenges, but the RBI's proactive oversight of NBFCs sets it ahead of the curve, with more...

ICICI Securities faces challenges with its delisting attempt as minority shareholders resist. The outcome remains uncertain, depending on...