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

Canara HSBC Life Insurance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/canara-hsbc-life-insurance" target="_blank" data-smartkarma-citation="entities:45165:1" rel="noopener">Canara HSBC Life Insurance (2908709Z IJ)</a> raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire soon.</li>
<li>Canara HSBC Life Insurance (CHLI) is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group. </li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



Canara HSBC Life Insurance (2908709Z IJ) raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire soon.
Canara HSBC Life Insurance (CHLI) is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group. 
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas: Canara HSBC Life Insurance IPO Lockup - US$824m Lockup Expiry; Investors Well in The Money

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-India in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Oil &amp; Natural Gas, ICICI Bank, HDFC Bank, Balkrishna Industries, L&amp;T Finance, Eternal, Tata Motors Passenger Vehicles, Tata Motors.</li>
</ul>


We analysed the earning revision of component stocks of MS-India in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Oil &amp; Natural Gas, ICICI Bank, HDFC Bank, Balkrishna Industries, L&amp;T Finance, Eternal, Tata Motors Passenger Vehicles, Tata Motors.


MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

<ul>
<li>We analysed the earning revision of component stocks of NIFTY in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ICICI Bank, Axis Bank, Reliance Industries, Oil &amp; Natural Gas, HDFC Bank, InterGlobe Aviation, State Bank of India, Eternal.</li>
</ul>


We analysed the earning revision of component stocks of NIFTY in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ICICI Bank, Axis Bank, Reliance Industries, Oil &amp; Natural Gas, HDFC Bank, InterGlobe Aviation, State Bank of India, Eternal.


NIFTY Index Earning Revision (Mar): ICICI Bank, Axis Bank, Reliance Industries, Oil & Natural Gas

<ul>
<li>We analysed the earning revision of component stocks of NIFTY in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation, ICICI Bank, Bharti Airtel.</li>
</ul>


We analysed the earning revision of component stocks of NIFTY in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation, ICICI Bank, Bharti Airtel.


NIFTY Index Earning Revision (Dec): JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently six pair trade opportunities across three markets and six sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently six pair trade opportunities across three markets and six sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (5 Jan '26)

India

SBI Life Insurance Co. Ltd. is a prominent Indian life insurance company, operating as a joint venture between the State Bank of India and BNP Paribas Cardif. The company offers a comprehensive suite of individual and group life insurance and savings products, including traditional plans, unit-linked plans (ULIPs), pension plans, and health plans. It also provides accident, disability, and critical illness insurance. SBI Life Insurance is headquartered in Mumbai, Maharashtra, India, and was founded in October 2000.

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SBI Life Insurance (SBILIFE IN)

Aequitas: Canara HSBC Life Insurance IPO Lockup - US$824m Lockup Expiry; Investors Well in The Money

Canara HSBC Life Insurance raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire...

Akshat Shah

MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

We analyzed MS-India's consensus for Mar 2026 and highlighted changes of EPS in Oil & Natural Gas (ONGC IN), ICICI Bank (ICICIBC IN), HDFC Bank...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Mar): ICICI Bank, Axis Bank, Reliance Industries, Oil & Natural Gas

We analyzed NIFTY's consensus for Mar 2026 and highlighted changes of EPS in ICICI Bank (ICICIBC IN), Axis Bank (AXSB IN), Reliance Industries...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Dec): JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation

We analyzed NIFTY's consensus for Dec 2025 and highlighted changes of EPS in JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation, ICICI Bank,...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (5 Jan '26)

Statistical methodology identifies six pair trade opportunities across three markets and six sectors, offering unique insights into relative value.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: Canara HSBC Life Insurance IPO Lockup - US$824m Lockup Expiry; Investors Well in The Money

Canara HSBC Life Insurance raised about US$284m in its India IPO in Oct 2025. The lockup on its promoters and the pre-IPO investor is set to expire...

Akshat Shah

MS-India Index Earning Revision (Mar): Oil & Natural Gas, ICICI Bank, HDFC Bank

We analyzed MS-India's consensus for Mar 2026 and highlighted changes of EPS in Oil & Natural Gas (ONGC IN), ICICI Bank (ICICIBC IN), HDFC Bank...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Mar): ICICI Bank, Axis Bank, Reliance Industries, Oil & Natural Gas

We analyzed NIFTY's consensus for Mar 2026 and highlighted changes of EPS in ICICI Bank (ICICIBC IN), Axis Bank (AXSB IN), Reliance Industries...

Ke Yan, CFA, FRM

NIFTY Index Earning Revision (Dec): JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation

We analyzed NIFTY's consensus for Dec 2025 and highlighted changes of EPS in JSW Steel, Trent, Infosys, HDFC Bank, InterGlobe Aviation, ICICI Bank,...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (5 Jan '26)

​Statistical methodology identifies six pair trade opportunities across three markets and six sectors, offering unique insights into relative value.

Gaudenz Schneider

Statistical methodology identifies six pair trade opportunities across three markets and six sectors, offering unique insights into relative value.