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

Travel Food Services / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/travel-food-services-ltd" target="_blank" data-smartkarma-citation="entities:44175:1" rel="noopener">Travel Food Services Ltd (1450229D IN)</a> is looking to raise about US$233m in its India IPO.</li>
<li>Travel Food Services Limited (TFS) operates a network of travel quick service restaurants (Travel QSRs) and private lounges in airports.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the RHP updates and IPO valuations.</li>
</ul>



Travel Food Services Ltd (1450229D IN) is looking to raise about US$233m in its India IPO.
Travel Food Services Limited (TFS) operates a network of travel quick service restaurants (Travel QSRs) and private lounges in airports.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the RHP updates and IPO valuations.


Travel Food Services IPO - RHP Updates & Thoughts on Valuation

InterGlobe Aviation Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">InterGlobe Aviation Ltd (INDIGO IN)</a> co-founder, Rakesh Gangwal, aims to raise around US$802m via selling around a 3% stake in Indigo.</li>
<li>He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with his co-founder Rahul Bhatia. He has sold many times before.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



InterGlobe Aviation Ltd (INDIGO IN) co-founder, Rakesh Gangwal, aims to raise around US$802m via selling around a 3% stake in Indigo.
He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with his co-founder Rahul Bhatia. He has sold many times before.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Interglobe Aviation (Indigo) Placement - Second US$800m+ Deal by Co-Founder This Year

<ul>
<li>
<a href="https://www.smartkarma.com/entities/interglobe-aviation-ltd" target="_blank" data-smartkarma-citation="entities:24877:1" rel="noopener">InterGlobe Aviation Ltd (INDIGO IN)</a>'s co-founder, Rakesh Gangwal, aims to raise around US$803m via selling around a 3.3% stake in Indigo.  </li>
<li>He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with his co-founder Rahul Bhatia. He has sold many times before.</li>
<li>In this note, we run the deal through our ECM framework and comment on deal dynamics.</li>
</ul>



InterGlobe Aviation Ltd (INDIGO IN)'s co-founder, Rakesh Gangwal, aims to raise around US$803m via selling around a 3.3% stake in Indigo.  
He had earlier stated his intention to pare down his stake after a long drawn, and very public battle, with his co-founder Rahul Bhatia. He has sold many times before.
In this note, we run the deal through our ECM framework and comment on deal dynamics.


Interglobe Aviation (Indigo) Placement - Another US$800m+ Deal by Co-Founder

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>
<a href="https://www.smartkarma.com/entities/spicejet-ltd" target="_blank" data-smartkarma-citation="entities:5266:1" rel="noopener">Spicejet Ltd (SJET IN)</a> faces insolvency pleas from lessors and a former pilot amid deepening financial distress and delayed resolution efforts.</li>
<li>
<a href="https://www.smartkarma.com/entities/pepsico-inc" target="_blank" data-smartkarma-citation="entities:4967:1" rel="noopener">Pepsico Inc (PEP US)</a> plans to double India revenue in five years with focused investments in capacity, innovation, and region-specific strategies.</li>
<li>Roshni Nadar becomes the third-richest Indian after receiving a 47% stake in HCL from her father, Shiv Nadar.</li>
</ul>



Spicejet Ltd (SJET IN) faces insolvency pleas from lessors and a former pilot amid deepening financial distress and delayed resolution efforts.

Pepsico Inc (PEP US) plans to double India revenue in five years with focused investments in capacity, innovation, and region-specific strategies.
Roshni Nadar becomes the third-richest Indian after receiving a 47% stake in HCL from her father, Shiv Nadar.


#117 India Insight: SpiceJet Faces Insolvency Heat, PepsiCo Eyes India Growth, Roshni Nadar Rises

<ul>
<li>JSW Renew Energy Signs 700 MW Solar Agreement with NTPC</li>
<li>SC Revives Adani's INR 27,000 Crore Insolvency Resolution for KSK Mahanadi</li>
<li>Zomato Xtreme Relaunches with Renewed Focus on the Food Delivery</li>
</ul>


JSW Renew Energy Signs 700 MW Solar Agreement with NTPC
SC Revives Adani's INR 27,000 Crore Insolvency Resolution for KSK Mahanadi
Zomato Xtreme Relaunches with Renewed Focus on the Food Delivery


# 64 India Insights: JSW ReNew Solar Agreement with NTPC, KSK Mahanadi Insolvency, Zomato Xtreme

India

SpiceJet Limited is a domestic low-budget air carrier which provides scheduled flights between major cities in India. The Company operates a fleet of Boeing 737 aircraft. E-booking and e-ticketing facilities are available online along with telephone booking. SpiceJet's maintenance support is handled by KLM and technology from Star Navigation, Russel Adams and Tech Log.

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Spicejet Ltd (SJET IN)

Travel Food Services IPO - RHP Updates & Thoughts on Valuation

Travel Food Services (TFS) is looking to raise about US$233m in its India IPO. In this note, we will talk about the RHP updates and IPO valuations.

Akshat Shah

Interglobe Aviation (Indigo) Placement - Second US$800m+ Deal by Co-Founder This Year

Indigo’s co-founder, Rakesh Gangwal, aims to pare down another 3% stake in Interglobe Aviation Limited (Indigo), raising around US$802m.

Akshat Shah

Interglobe Aviation (Indigo) Placement - Another US$800m+ Deal by Co-Founder

InterGlobe Aviation (Indigo)’s co-founder, Rakesh Gangwal, aims to raise around US$803m via selling around 3.3% stake in Indigo.

Akshat Shah

#117 India Insight: SpiceJet Faces Insolvency Heat, PepsiCo Eyes India Growth, Roshni Nadar Rises

Spicejet Ltd faces insolvency as financial distress deepens, Pepsico Inc aims to double India revenue, Roshni Nadar becomes third-richest Indian...

Sudarshan Bhandari

# 64 India Insights: JSW ReNew Solar Agreement with NTPC, KSK Mahanadi Insolvency, Zomato Xtreme

JSW Renew Energy partners with NTPC for 700 MW solar project, SC revives Adani's INR 27,000 crore insolvency resolution for KSK Mahanadi, Zomato...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Travel Food Services IPO - RHP Updates & Thoughts on Valuation

Travel Food Services (TFS) is looking to raise about US$233m in its India IPO. In this note, we will talk about the RHP updates and IPO valuations.

Akshat Shah

Interglobe Aviation (Indigo) Placement - Second US$800m+ Deal by Co-Founder This Year

Indigo’s co-founder, Rakesh Gangwal, aims to pare down another 3% stake in Interglobe Aviation Limited (Indigo), raising around US$802m.

Akshat Shah

Interglobe Aviation (Indigo) Placement - Another US$800m+ Deal by Co-Founder

InterGlobe Aviation (Indigo)’s co-founder, Rakesh Gangwal, aims to raise around US$803m via selling around 3.3% stake in Indigo.

Akshat Shah

#117 India Insight: SpiceJet Faces Insolvency Heat, PepsiCo Eyes India Growth, Roshni Nadar Rises

​Spicejet Ltd faces insolvency as financial distress deepens, Pepsico Inc aims to double India revenue, Roshni Nadar becomes third-richest Indian...

Sudarshan Bhandari

# 64 India Insights: JSW ReNew Solar Agreement with NTPC, KSK Mahanadi Insolvency, Zomato Xtreme

​JSW Renew Energy partners with NTPC for 700 MW solar project, SC revives Adani's INR 27,000 crore insolvency resolution for KSK Mahanadi, Zomato...

Sudarshan Bhandari

Spicejet Ltd faces insolvency as financial distress deepens, Pepsico Inc aims to double India revenue, Roshni Nadar becomes third-richest Indian...

JSW Renew Energy partners with NTPC for 700 MW solar project, SC revives Adani's INR 27,000 crore insolvency resolution for KSK Mahanadi, Zomato...