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

<ul>
<li>Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>


Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.
In this note, we will talk about the not-so-positive aspects of the deal.


Honasa Consumer Pre-IPO - The Negatives - Ad Spending Keeping Profits Low

<ul>
<li>Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments. 
In this note, we will talk about the positive aspects of the deal.


Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>Procter &amp; Gamble's share price appears to be running ahead of business fundamentals.</li>
<li>P&amp;G has a limited upside over the short to medium term, according to the recent earnings report.</li>
<li>The company has a free cash flow point of view, but has a limited upside over a short-term term.</li>
</ul>


Procter &amp; Gamble's share price appears to be running ahead of business fundamentals.
P&amp;G has a limited upside over the short to medium term, according to the recent earnings report.
The company has a free cash flow point of view, but has a limited upside over a short-term term.


Procter & Gamble: Recent Earnings Reaffirm My Cautious View On The Stock

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Procter & Gamble saw good results from implementing its integrated strategies and the company delivered an all-around beat.</li><li>P&G saw its organic sales increasing while its global aggregate market share held, its productivity savings continuing, and its supply efficiency improved further.</li><li>Hair Care saw a mid-single-digit increase, while oral care, Skin and Personal Care, Baby Care, and Family Care saw low single-digit increases.</li></ul>

Procter & Gamble saw good results from implementing its integrated strategies and the company delivered an all-around beat.P&G saw its organic sales increasing while its global aggregate market share held, its productivity savings continuing, and its supply efficiency improved further.Hair Care saw a mid-single-digit increase, while oral care, Skin and Personal Care, Baby Care, and Family Care saw low single-digit increases.

Procter & Gamble: Continued Acquisitions In Skincare & Haircare & Other Drivers

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Bangkok Dusit Medical Services / Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.</li><li>The market is awaiting new positive catalysts to support a fresh rally.</li><li>Technically, investors are suggested to do short-term trading buy on defensive plays that underperformed the market previously, such as those in the health care and infrastructure sectors.</li></ul>

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.The market is awaiting new positive catalysts to support a fresh rally.Technically, investors are suggested to do short-term trading buy on defensive plays that underperformed the market previously, such as those in the health care and infrastructure sectors.

United States

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

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Procter & Gamble Co (PG US)

Honasa Consumer Pre-IPO - The Negatives - Ad Spending Keeping Profits Low

Honasa Consumer (HC) is looking to raise about US$350m in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Honasa Consumer Pre-IPO - The Positives - New Age DTC Brand

Honasa Consumer, a DTC beauty and personal care brand, is looking to raise about US$350m in its upcoming India IPO. In this note, we will talk...

Sumeet Singh

Procter & Gamble: Recent Earnings Reaffirm My Cautious View On The Stock

Procter & Gamble's share price appears to be running ahead of business fundamentals. P&G has a limited upside over the short to medium term,...

Vladimir Dimitrov, CFA

Procter & Gamble: Continued Acquisitions In Skincare & Haircare & Other Drivers

Procter & Gamble saw good results from implementing its integrated strategies and the company delivered an all-around beat. P&G saw its...

Baptista Research

Market Outlook

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points. The market is...

Krungthai XSpring

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