Asia Ex-J Consumer/ Transport analyst

Valerie Law, CFA

Thematic (Sector/Industry)

This issue of 'The Week that Was in Greater China@Smartkarma' covers the week of October 31 to November 5 and features a selection of the week's insights on China, Macau, Hong Kong and Taiwan. This is a collaborative report compiled by <a href="https://www.smartkarma.com/profiles/820" target="_blank">Scott Laprise/ 乐天虎</a>, <a href="https://www.smartkarma.com/profiles/803" target="_blank">Valerie Law, CFA</a>, <a href="https://www.smartkarma.com/profiles/9" target="_blank">Ke Yan, CFA, FRM</a>, and <a href="https://www.smartkarma.com/profiles/605" target="_blank" data-smartkarma-citation="accounts:605">Daniel Hellberg</a> on a rotating basis. Please let us know if you would like to collaborate.

This issue of 'The Week that Was in Greater China@Smartkarma' covers the week of October 31 to November 5 and features a selection of the week's insights on China, Macau, Hong Kong and Taiwan. This is a collaborative report compiled by Scott Laprise/ 乐天虎, Valerie Law, CFA, Ke Yan, CFA, FRM, and Daniel Hellberg on a rotating basis. Please let us know if you would like to collaborate.

The Week that Was in Greater China @Smartkarma: Tourism for Korea, Macau and Japan to Shine?

This is the 13th issue of 'The Week that Was in Greater China@Smartkarma' which features a selection of last week's insights on China, Macau, Hong Kong and Taiwan. This is a collaborative report compiled by <a href="https://www.smartkarma.com/profiles/820" target="_blank">Scott Laprise/ 乐天虎</a>, <a href="https://www.smartkarma.com/profiles/803" target="_blank">Valerie Law, CFA</a>, <a href="https://www.smartkarma.com/profiles/9" target="_blank">Ke Yan, CFA, FRM</a>, and <a href="https://www.smartkarma.com/profiles/605" target="_blank">Daniel Hellberg</a> on a rotating basis. Please let us know if you would like to be included in this collaborative effort.

This is the 13th issue of 'The Week that Was in Greater China@Smartkarma' which features a selection of last week's insights on China, Macau, Hong Kong and Taiwan. This is a collaborative report compiled by Scott Laprise/ 乐天虎, Valerie Law, CFA, Ke Yan, CFA, FRM, and Daniel Hellberg on a rotating basis. Please let us know if you would like to be included in this collaborative effort.

The Week that Was in Greater China@SmartKarma: A Himalayan Spat, Bull Vs Bear, & Wanda's Wonderland

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>
<a href="https://www.smartkarma.com/entities/urban-company" target="_blank" data-smartkarma-citation="entities:33475:1" rel="noopener">Urban Company (UCL IN)</a> (UC) raised around US$220m in its India IPO. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>UCL is a tech-enabled platform offering home and beauty services delivered by trained professionals at customer’s location.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Urban Company (UCL IN) (UC) raised around US$220m in its India IPO. The lockup on its pre-IPO investors is set to expire soon.
UCL is a tech-enabled platform offering home and beauty services delivered by trained professionals at customer’s location.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Urban Company IPO Lockup - US$1bn Release for >57% of the Stock

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/one-mobikwik-systems-ltd" target="_blank" data-smartkarma-citation="entities:33952:1" rel="noopener">One Mobikwik Systems (1235487D IN)</a> is India's leading digital wallet platform, serving over 183 million users and 4.7 million merchants through integrated payments, digital credit, and investment solutions. </li>
<li>The company shifted from small-ticket Zip loans to large-ticket Zip EMI products to improve credit book quality and ensure more stable long-term unit economics. </li>
<li>Management expects an EBITDA break-even by Q3 FY26 or Q4FY26, supported by disciplined cost management, 30% loan book expansion, and normalized gross lending margins of 40%.</li>
</ul>



One Mobikwik Systems (1235487D IN) is India's leading digital wallet platform, serving over 183 million users and 4.7 million merchants through integrated payments, digital credit, and investment solutions. 
The company shifted from small-ticket Zip loans to large-ticket Zip EMI products to improve credit book quality and ensure more stable long-term unit economics. 
Management expects an EBITDA break-even by Q3 FY26 or Q4FY26, supported by disciplined cost management, 30% loan book expansion, and normalized gross lending margins of 40%.


One Mobikwik Systems Ltd ~The Next Paytm?

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/urban-company" target="_blank" data-smartkarma-citation="entities:33475:1" rel="noopener">Urban Company</a> (UC) raised around US$220m in its heavily subscribed India IPO.</li>
<li>UCL is a tech-enabled platform offering home and beauty services delivered by trained professionals at customer’s location.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Urban Company (UC) raised around US$220m in its heavily subscribed India IPO.
UCL is a tech-enabled platform offering home and beauty services delivered by trained professionals at customer’s location.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


Urban Company IPO Trading - Highest Demand so Far This Year

United States

Makemytrip Ltd. offers travel services over the Internet.  The Company operates websites that allow travelers to research and plan trips and book airline tickets, hotels, packages, rail tickets, bus tickets, and rental cars. Makemytrip also offers access to travel insurance.

Price Gauge
52-week Range	0.00 - 0.00
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Makemytrip Ltd (MMYT US)

The Week that Was in Greater China @Smartkarma: Tourism for Korea, Macau and Japan to Shine?

This issue of 'The Week that Was in Greater China@Smartkarma' covers the week of October 31 to November 5 and features a selection of the week's...

Valerie Law, CFA

The Week that Was in Greater China@SmartKarma: A Himalayan Spat, Bull Vs Bear, & Wanda's Wonderland

This is the 13th issue of 'The Week that Was in Greater China@Smartkarma' which features a selection of last week's insights on China, Macau, Hong...

Valerie Law, CFA

Aequitas: Urban Company IPO Lockup - US$1bn Release for >57% of the Stock

Urban Company (UCL IN) (UC) raised around US$220m in its India IPO. The lockup on its pre-IPO investors is set to expire soon.

Sumeet Singh

One Mobikwik Systems Ltd ~The Next Paytm?

India's leading digital wallet platform, One Mobikwik Systems, is transitioning to large-ticket Zip EMI products to enhance credit quality and...

Sudarshan Bhandari

Urban Company IPO Trading - Highest Demand so Far This Year

Urban Company (UC) raised around US$220m in its heavily subscribed India IPO. In this note, we talk about the trading updates.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Week that Was in Greater China @Smartkarma: Tourism for Korea, Macau and Japan to Shine?

This issue of 'The Week that Was in Greater China@Smartkarma' covers the week of October 31 to November 5 and features a selection of the week's...

Valerie Law, CFA

The Week that Was in Greater China@SmartKarma: A Himalayan Spat, Bull Vs Bear, & Wanda's Wonderland

This is the 13th issue of 'The Week that Was in Greater China@Smartkarma' which features a selection of last week's insights on China, Macau, Hong...

Valerie Law, CFA

Aequitas: Urban Company IPO Lockup - US$1bn Release for >57% of the Stock

Urban Company (UCL IN) (UC) raised around US$220m in its India IPO. The lockup on its pre-IPO investors is set to expire soon.

Sumeet Singh

One Mobikwik Systems Ltd ~The Next Paytm?

​India's leading digital wallet platform, One Mobikwik Systems, is transitioning to large-ticket Zip EMI products to enhance credit quality and...

Sudarshan Bhandari

Urban Company IPO Trading - Highest Demand so Far This Year

Urban Company (UC) raised around US$220m in its heavily subscribed India IPO. In this note, we talk about the trading updates.

Sumeet Singh

India's leading digital wallet platform, One Mobikwik Systems, is transitioning to large-ticket Zip EMI products to enhance credit quality and...