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

Juniper Green Energy Ltd / Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/juniper-green-energy-ltd" target="_blank" data-smartkarma-citation="entities:45455:1" rel="noopener">Juniper Green Energy Ltd (1831458D IN)</a> is looking to raise around US$350m in its upcoming India IPO. </li>
<li>Juniper Green Energy Limited (JGEL) is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.</li>
<li>In this note, we look at the firm’s past performance.</li>
</ul>



Juniper Green Energy Ltd (1831458D IN) is looking to raise around US$350m in its upcoming India IPO. 
Juniper Green Energy Limited (JGEL) is an independent power producer (IPP) engaged in the development, construction, operation, and maintenance of utility-scale renewable energy projects.
In this note, we look at the firm’s past performance.


Aequitas: Juniper Green Energy Pre-IPO - Execution-Led Growth but Risks Remain

Bagmane Prime Office REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bagmane-prime-office-reit" target="_blank" data-smartkarma-citation="entities:46266:1" rel="noopener">Bagmane Prime Office REIT (BPOR IN)</a> plans to raise around US$440m in its upcoming India IPO. It owns and manages premium Grade A+ business parks located in Bengaluru.</li>
<li>It represents a high-quality, institutionally-managed office REIT with strong asset quality, near-full occupancy, and embedded rental upside. Its balance sheet and acquisition pipeline provide support with moderate growth potential.</li>
<li>In this note, we talk about the firm’s historical performance.</li>
</ul>



Bagmane Prime Office REIT (BPOR IN) plans to raise around US$440m in its upcoming India IPO. It owns and manages premium Grade A+ business parks located in Bengaluru.
It represents a high-quality, institutionally-managed office REIT with strong asset quality, near-full occupancy, and embedded rental upside. Its balance sheet and acquisition pipeline provide support with moderate growth potential.
In this note, we talk about the firm’s historical performance.


Aequitas: Bagmane REIT Pre-IPO - Strong Yield Visibility Supported by Embedded Rental Growth

Canara HSBC Life Insurance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/canara-hsbc-life-insurance" target="_blank" data-smartkarma-citation="entities:45165:1" rel="noopener">Canara HSBC Life Insurance (2908709Z IJ)</a> raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire soon.</li>
<li>Canara HSBC Life Insurance (CHLI) is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group. </li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Canara HSBC Life Insurance (2908709Z IJ) raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire soon.
Canara HSBC Life Insurance (CHLI) is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group. 
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Canara HSBC Life Insurance IPO Lockup - US$824m Lockup Expiry; Investors Well in The Money

Rubicon Research Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rubicon-research-limited" target="_blank" data-smartkarma-citation="entities:43796:1" rel="noopener">Rubicon Research Limited (1453591D IN)</a> raised about US$155m in its India IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.</li>
<li>Rubicon Research (RR) is a pharmaceutical formulations company with a portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Rubicon Research Limited (1453591D IN) raised about US$155m in its India IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.
Rubicon Research (RR) is a pharmaceutical formulations company with a portfolio of specialty products and drug-device combination products targeting regulated markets, particularly, the United States.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas : Rubicon Research IPO Lockup -Shares Have Traded Well; General Atlantic Well in The Money

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wework-india-management-ltd" target="_blank" data-smartkarma-citation="entities:44329:1" rel="noopener">WeWork India Management (WEWORK IN)</a> raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.</li>
<li>WeWork India (WWI) offers a wide range of workspace solutions, including custom-designed buildings, floors, and offices; enterprise office suites; private offices; co-working spaces; customized managed offices; and hybrid digital solutions.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



WeWork India Management (WEWORK IN) raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.
WeWork India (WWI) offers a wide range of workspace solutions, including custom-designed buildings, floors, and offices; enterprise office suites; private offices; co-working spaces; customized managed offices; and hybrid digital solutions.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: WeWork India IPO Lockup Expiry-Shares Have Traded Down but WeWork Global Well in The Money

India

Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company. It primarily offers a wide range of life insurance products, including endowment plans, money-back plans, term assurance plans, pension plans, health plans, and unit-linked products, along with investment management services. LIC is headquartered in Mumbai, India, and was founded on September 1, 1956.

Life Insurance Corporation of India (LICI IN)

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Life Insurance Corporation of India (LICI IN)

Aequitas: Juniper Green Energy Pre-IPO - Execution-Led Growth but Risks Remain

Juniper Green Energy is looking to raise around US$350m in its upcoming India IPO. In this note, we look at the firm’s past performance.

Akshat Shah

Aequitas: Bagmane REIT Pre-IPO - Strong Yield Visibility Supported by Embedded Rental Growth

Bagmane Prime Office Reit (BPOR) plans to raise around US$440m in its upcoming India IPO. In this note, we talk about the firm’s historical...

Akshat Shah

Aequitas: Canara HSBC Life Insurance IPO Lockup - US$824m Lockup Expiry; Investors Well in The Money

Canara HSBC Life Insurance raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire...

Akshat Shah

Aequitas : Rubicon Research IPO Lockup -Shares Have Traded Well; General Atlantic Well in The Money

Rubicon Research Limited raised about US$155m in its India IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.

Akshat Shah

Aequitas: WeWork India IPO Lockup Expiry-Shares Have Traded Down but WeWork Global Well in The Money

WeWork India raised around US$338m in its IPO in Oct 2025. The lockup on its promoter and pre-IPO investors is set to expire soon.

Akshat Shah

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52-week Range

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