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

Aditya Infotech Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aditya-infotech-ltd" target="_blank" data-smartkarma-citation="entities:43994:1" rel="noopener">Aditya Infotech Ltd (6596564Z IN)</a> (AIL) raised around US$151m in its IPO in August 2025. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>AIL is a CCTV/video surveillance provider company offering a range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under its CP PLUS brand.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Aditya Infotech Ltd (6596564Z IN) (AIL) raised around US$151m in its IPO in August 2025. The lockup on its pre-IPO investors is set to expire soon.
AIL is a CCTV/video surveillance provider company offering a range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under its CP PLUS brand.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Aditya Infotech IPO Lockup Expiry- Has Continued Its Good Run, Dixon Tech Could Book Gains

Executive Centre India Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/executive-centre-india-ltd" target="_blank" data-smartkarma-citation="entities:45620:1" rel="noopener">Executive Centre India Ltd (2026075D IN)</a> (ECIL) is looking to raise about US$288m in its all-primary upcoming India IPO. </li>
<li>ECIL leases Grade A office spaces and converts them into premium flexible workspaces, catering to MNCs, SMEs, and other entities across various sectors and industries.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Executive Centre India Ltd (2026075D IN) (ECIL) is looking to raise about US$288m in its all-primary upcoming India IPO. 
ECIL leases Grade A office spaces and converts them into premium flexible workspaces, catering to MNCs, SMEs, and other entities across various sectors and industries.
In this note, we talk about the company’s historical performance.


Aequitas: Executive Centre Pre-IPO - Differentiated Play on Premium Flexible Workspaces

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-December in January. There are companies with significant float changes from end-September and/or end-June.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 19 stocks with passive inflows from global trackers while 8 could have passive outflows in February.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-December in January. There are companies with significant float changes from end-September and/or end-June.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in flow from passive trackers.
Depending on the date that the shareholding was published, there could be 19 stocks with passive inflows from global trackers while 8 could have passive outflows in February.


India: Potential Free Float Changes & Passive Flows in February 2026

Amagi Media Labs / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amagi-media-labs" target="_blank" data-smartkarma-citation="entities:45644:1" rel="noopener">Amagi Media Labs (1232899D IN)</a> raised around US$189m in its India IPO. AML provides cloud-native software infrastructure for content owners, broadcasters, and streaming platforms.</li>
<li>AML enables its clients to manage, distribute, and monetize live, linear, and on-demand content seamlessly across traditional TV, Over-The-Top (OTT), and Free Ad-Supported Streaming TV (FAST) platforms.</li>
<li>We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Amagi Media Labs (1232899D IN) raised around US$189m in its India IPO. AML provides cloud-native software infrastructure for content owners, broadcasters, and streaming platforms.
AML enables its clients to manage, distribute, and monetize live, linear, and on-demand content seamlessly across traditional TV, Over-The-Top (OTT), and Free Ad-Supported Streaming TV (FAST) platforms.
We have looked at the past performance and valuations in our previous note. In this note, we talk about the trading dynamics.


Aequitas: Amagi Media Labs IPO Trading - Healthy Demand with Decent Anchor

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amagi-media-labs" target="_blank" data-smartkarma-citation="entities:45644:1" rel="noopener">Amagi Media Labs (1232899D IN)</a> (AML) is looking to raise around US$198m in its India IPO. The deal has been downsized from its earlier estimated deal size of around US$400m.</li>
<li>AML provides software solutions for content providers, owners, video platforms, advertising networks to create, distribute, and monetize video content across a variety of channels and devices, including for live events. </li>
<li>In this note, we talk about the company’s historical performance and IPO valuations.</li>
</ul>



Amagi Media Labs (1232899D IN) (AML) is looking to raise around US$198m in its India IPO. The deal has been downsized from its earlier estimated deal size of around US$400m.
AML provides software solutions for content providers, owners, video platforms, advertising networks to create, distribute, and monetize video content across a variety of channels and devices, including for live events. 
In this note, we talk about the company’s historical performance and IPO valuations.


Aequitas: Amagi Media Labs IPO - Scaling a Global Platform; Profitability in Sight

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: Aditya Infotech IPO Lockup Expiry- Has Continued Its Good Run, Dixon Tech Could Book Gains

Aditya Infotech (AIL) raised around US$151m in its IPO in August 2025. The lockup on its pre-IPO investors is set to expire soon.

Akshat Shah

Aequitas: Executive Centre Pre-IPO - Differentiated Play on Premium Flexible Workspaces

Executive Centre India Ltd (ECIL) is looking to raise about US$288m in its upcoming India IPO. In this note, we talk about the company’s historical...

Akshat Shah

India: Potential Free Float Changes & Passive Flows in February 2026

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices in February. Passive trackers will need to...

Brian Freitas

Aequitas: Amagi Media Labs IPO Trading - Healthy Demand with Decent Anchor

Amagi Media Labs (AML) raised around US$189m in its India IPO. In this note, we talk about the demand and the trading dynamics.

Akshat Shah

Aequitas: Amagi Media Labs IPO - Scaling a Global Platform; Profitability in Sight

Amagi Media Labs (AML) is looking to raise around US$198m in its India IPO. The deal has been downsized from its earlier estimated deal size of...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)