Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

<ul>
<li>Since inception on February 27, our equal-weighted Indian Mid-Cap basket has appreciated 29.4%, sharply outperforming the BSE Mid-Cap Index (18.6%). We revisit our basket and apply the relevant screens again. </li>
<li>We screen on minimum 10% EPS CAGR over next two years, maximum PEG of 1.3x, consensus rating of buy/overweight and upward revision in consensus EPS estimate over past 6 months.</li>
<li>14 stocks come up in our new India Mid-Caps basket - fewer than the 20 that we had earlier. Four stocks are common with the previous basket.</li>
</ul>


Since inception on February 27, our equal-weighted Indian Mid-Cap basket has appreciated 29.4%, sharply outperforming the BSE Mid-Cap Index (18.6%). We revisit our basket and apply the relevant screens again. 
We screen on minimum 10% EPS CAGR over next two years, maximum PEG of 1.3x, consensus rating of buy/overweight and upward revision in consensus EPS estimate over past 6 months.
14 stocks come up in our new India Mid-Caps basket - fewer than the 20 that we had earlier. Four stocks are common with the previous basket.


Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Sagility is a pure-play Business Process Management (BPM) provider focused exclusively on the U.S. healthcare market, offering technology-enabled solutions to both payers (insurers) and providers (hospitals).</li>
 <li>The company has demonstrated a robust growth trajectory, driven by strong demand from its long-standing client base, which includes five of the top ten U.S. health insurers.</li>
 <li>Future growth is expected to be propelled by the increasing adoption of AI and automation in healthcare, industry-wide pressures to reduce costs, and the company's strategic focus on expanding its service offerings and client base.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Sagility is a pure-play Business Process Management (BPM) provider focused exclusively on the U.S. healthcare market, offering technology-enabled solutions to both payers (insurers) and providers (hospitals).
  The company has demonstrated a robust growth trajectory, driven by strong demand from its long-standing client base, which includes five of the top ten U.S. health insurers.
  Future growth is expected to be propelled by the increasing adoption of AI and automation in healthcare, industry-wide pressures to reduce costs, and the company's strategic focus on expanding its service offerings and client base.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Sagility India (SAGILITY IN) - Apr 2026

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

<ul>
<li>Promoter entity EQT, via Sagility BV is looking to raise up to US$402m via selling a 16.4% stake in <a href="https://www.smartkarma.com/entities/sagility-india-limited" target="_blank" data-smartkarma-citation="entities:43717:1" rel="noopener">Sagility India (SAGILITY IN)</a>. </li>
<li>The deal comprises a base deal of 10% of outstanding shares, with an option to upsize it by another 6.4% of shares outstanding. </li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>


Promoter entity EQT, via Sagility BV is looking to raise up to US$402m via selling a 16.4% stake in Sagility India (SAGILITY IN). 
The deal comprises a base deal of 10% of outstanding shares, with an option to upsize it by another 6.4% of shares outstanding. 
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Sagility Block - US$400m Selldown by EQT; Second Deal This Year

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

Thematic (Sector/Industry)

<ul>
<li>The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows</li>
<li>This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.</li>
<li>Global exporters like <a href="https://www.smartkarma.com/entities/coforge-ltd" target="_blank" data-smartkarma-citation="entities:8639:1" rel="noopener">Coforge (COFORGE IN)</a> and <a href="https://www.smartkarma.com/entities/sagility-india-limited" target="_blank" data-smartkarma-citation="entities:43717:1" rel="noopener">Sagility India (SAGILITY IN)</a> emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.</li>
</ul>


The Indian Rupee’s decline to 95 per dollar is driven by a widening trade deficit, surging crude oil prices, and persistent foreign capital outflows
This depreciation triggers imported inflation across the economy, a substantial 3.7% to 5.2% EPS boost for top-tier IT services exporters.
Global exporters like Coforge (COFORGE IN) and Sagility India (SAGILITY IN) emerge as primary beneficiaries, whereas import-dependent sectors like Aviation and Paints face severe and immediate margin contraction.


The Rupee at 95/$: Sectoral Winners and Losers

<ul>
<li>Following our Large Cap basket (<a href="https://www.smartkarma.com/insights/asian-equities-the-asian-large-cap-focus-list-73-stocks-with-growth-value-quality-balance-sheet" target="_blank" data-smartkarma-citation="insights:240767" rel="noopener">Asian Equities: The Asian Large Cap Focus List - 73 Stocks with Growth, Value, Quality Balance Sheet</a>), we screen Asian Small Caps (US$1-5bn market cap).</li>
<li>93 small caps across Hong Kong (34), Korea (18), Taiwan (18), Indonesia (9), India (8) and Singapore-Malaysia (6) come up on our screen. </li>
<li>The HK and Singapore-Malaysia stocks are the most diversified across sectors. Korea is moderately so. India is dominated by financials, Taiwan by electronic hardware and Indonesia by energy and minerals.</li>
</ul>


Following our Large Cap basket (Asian Equities: The Asian Large Cap Focus List - 73 Stocks with Growth, Value, Quality Balance Sheet), we screen Asian Small Caps (US$1-5bn market cap).
93 small caps across Hong Kong (34), Korea (18), Taiwan (18), Indonesia (9), India (8) and Singapore-Malaysia (6) come up on our screen. 
The HK and Singapore-Malaysia stocks are the most diversified across sectors. Korea is moderately so. India is dominated by financials, Taiwan by electronic hardware and Indonesia by energy and minerals.


Asian Equities: Small Caps with Strong Growth, Reasonable Valuations, and Strong Balance Sheets

India

Sagility is a tech-enabled business process management (BPM) company focused on the U.S. healthcare market. It provides a broad spectrum of transformational services including claims management, clinical services, payment integrity, and provider data management to healthcare payers and providers. The company leverages technology such as AI, intelligent automation, and advanced analytics to optimize healthcare operations. Sagility was founded in 2021 and is headquartered in Bengaluru, Karnataka, India, with significant operations in the U.S.

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Sagility (SAGILITY IN)

Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...

Manishi Raychaudhuri

Primer: Sagility India (SAGILITY IN) - Apr 2026

Sagility is a pure-play Business Process Management (BPM) provider focused exclusively on the U.S. healthcare market, offering...

αSK Primers

Sagility Block - US$400m Selldown by EQT; Second Deal This Year

Promoter entity EQT, via Sagility BV is looking to raise up to US$402m via selling a 16.4% stake in Sagility, comprising a base deal of 10% of...

Akshat Shah

The Rupee at 95/$: Sectoral Winners and Losers

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Asian Equities: Small Caps with Strong Growth, Reasonable Valuations, and Strong Balance Sheets

Screening Asian Small Caps reveals 93 stocks across markets. HK & SG-Malaysia are the most diversified. India is dominated by financials, TW by...

Manishi Raychaudhuri

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

​Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...

Manishi Raychaudhuri

Primer: Sagility India (SAGILITY IN) - Apr 2026

Sagility is a pure-play Business Process Management (BPM) provider focused exclusively on the U.S. healthcare market, offering...

αSK Primers

Sagility Block - US$400m Selldown by EQT; Second Deal This Year

Promoter entity EQT, via Sagility BV is looking to raise up to US$402m via selling a 16.4% stake in Sagility, comprising a base deal of 10% of...

Akshat Shah

The Rupee at 95/$: Sectoral Winners and Losers

​Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Sudarshan Bhandari

Asian Equities: Small Caps with Strong Growth, Reasonable Valuations, and Strong Balance Sheets

​Screening Asian Small Caps reveals 93 stocks across markets. HK & SG-Malaysia are the most diversified. India is dominated by financials, TW by...

Manishi Raychaudhuri

Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...

Indian Rupee's decline to 95 per dollar due to trade deficit, oil prices, and capital outflows leads to imported inflation but boosts EPS for IT...

Screening Asian Small Caps reveals 93 stocks across markets. HK & SG-Malaysia are the most diversified. India is dominated by financials, TW by...