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.

Equity Capital Markets

Jio Platforms Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms</a> (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO.</li>
<li>Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Jio Platforms (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO.
Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.
In this note, we talk about the not-so-positive aspects of the deal.


Aequitas: Jio Platforms Pre-IPO - The Negatives - Lower ARPU, Related Party

Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>With the crash of the NFT market, OpenSea’s average weekly transaction volume dropped 98% from $1.4B in 2022 to less than $20M as of 2025.</li><li>The NFT market's collapse in 2022 marked the end of NFTs as financialized assets—bundled with equity-like upside, pseudo-membership rights, or meme coin appeal—and took down the generalist marketplaces built around that thesis, with OpenSea falling from 97% share in 2022 to 13% in 2024 as exchange-based NFT platforms from Coinbase and Kraken shuttered entirely.</li><li>From the wreckage, luxury has held up as the enduring use case for NFTs, offering a programmable container for creating expensive & scarce digital objects—products like Louis Vuitton’s $40K “Treasure Trunks” and Hublot’s $60K NFT-paired watches that, like traditional luxury goods and fine art, derive value from controlled access & scarcity, high-quality craftsmanship & materials, heritage & provenance and cultural credibility as conferred by institutions like LACMA and MoMA.</li></ul>

With the crash of the NFT market, OpenSea’s average weekly transaction volume dropped 98% from $1.4B in 2022 to less than $20M as of 2025.The NFT market's collapse in 2022 marked the end of NFTs as financialized assets—bundled with equity-like upside, pseudo-membership rights, or meme coin appeal—and took down the generalist marketplaces built around that thesis, with OpenSea falling from 97% share in 2022 to 13% in 2024 as exchange-based NFT platforms from Coinbase and Kraken shuttered entirely.From the wreckage, luxury has held up as the enduring use case for NFTs, offering a programmable container for creating expensive & scarce digital objects—products like Louis Vuitton’s $40K “Treasure Trunks” and Hublot’s $60K NFT-paired watches that, like traditional luxury goods and fine art, derive value from controlled access & scarcity, high-quality craftsmanship & materials, heritage & provenance and cultural credibility as conferred by institutions like LACMA and MoMA.

Duncan Cock Foster, co-founder Of Nifty Gateway, On NFTs As Luxury Goods

United States

Full-service digital production studio creating immersive onchain experiences for brands and creators

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Nifty Gateway (GATEWAY US)

Duncan Cock Foster, co-founder Of Nifty Gateway, On NFTs As Luxury Goods

As someone who's been in the space, directly involved in Nifty Gateway until 2023, how do you see the conversation around NFTs has evolved...

Sacra

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52-week Range

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Aequitas: Jio Platforms Pre-IPO - The Negatives - Lower ARPU, Related Party

Jio Platforms (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the...

Sumeet Singh

Duncan Cock Foster, co-founder Of Nifty Gateway, On NFTs As Luxury Goods

As someone who's been in the space, directly involved in Nifty Gateway until 2023, how do you see the conversation around NFTs has evolved...

Sacra