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>Delhivery is looking to raise US$1bn in its upcoming India IPO, the company is backed by a host of financial investors, the largest being Softbank.</li>
<li>Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Delhivery is looking to raise US$1bn in its upcoming India IPO, the company is backed by a host of financial investors, the largest being Softbank.
Delhivery is an online logistics service provider which covers express parcel delivery, heavy goods delivery, part truckload (PTL) freight, truckload (TL) freight, supply chain solutions, cross border solutions etc.
In this note, we talk about the positive aspects of the deal.


Delhivery Pre-IPO - The Positives - Riding the E-Commerce Boom

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>Indian IT giant <a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Svcs (TCS IN)</a> released their public announcement document for their latest buyback after market close on 14th February 2022. </li>
<li>The company is planning to spend up to INR180bn (~US$2.4bn) which is one of the largest amounts spent in Tender Offer-style Buybacks in India.</li>
<li>Below is a closer look at the details of this Buyback.</li>
</ul>


Indian IT giant Tata Consultancy Svcs (TCS IN) released their public announcement document for their latest buyback after market close on 14th February 2022. 
The company is planning to spend up to INR180bn (~US$2.4bn) which is one of the largest amounts spent in Tender Offer-style Buybacks in India.
Below is a closer look at the details of this Buyback.


Tata Consultancy Services (TCS IN): US$2.4bn Mega Buyback

<ul>
<li>Vedant Fashions raised around US$420m in its India IPO. While insti demand was decent, retail investor gave it a miss. </li>
<li>It is a fashionwear company targeting the Indian wedding and celebration wear segment. According to CRISIL, it was the largest company in India in the men’s Indian wedding wear segment.</li>
<li>In this note, we will talk about the trading updates and other deal dynamics.</li>
</ul>


Vedant Fashions raised around US$420m in its India IPO. While insti demand was decent, retail investor gave it a miss. 
It is a fashionwear company targeting the Indian wedding and celebration wear segment. According to CRISIL, it was the largest company in India in the men’s Indian wedding wear segment.
In this note, we will talk about the trading updates and other deal dynamics.


Vedant Fashions IPO Trading - Liked by Instis While Retail Gave It a Miss

Life Insurance Corporation of India / Equity Capital Markets

Life Insurance Corporation of India (LICI IN)

<ul>
<li>The Government of India (GoI) is looking to raise around US$5-10bn via selling a 5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.</li>
<li>The deal will be run by Kotak, Axis, BofA, Citi, Nomura, GS, ISec, JM Fin, JPM, SBI Caps.</li>
<li>This note provides a brief overview of the company and the deal.</li>
</ul>


The Government of India (GoI) is looking to raise around US$5-10bn via selling a 5% stake in Life Insurance Corporation of India (LIC) in its upcoming India IPO.
The deal will be run by Kotak, Axis, BofA, Citi, Nomura, GS, ISec, JM Fin, JPM, SBI Caps.
This note provides a brief overview of the company and the deal.


Life Insurance Corporation of India IPO Tearsheet

LG Energy Solution / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>
<a href="https://www.smartkarma.com/entities/lg-energy-solution" target="_blank" data-smartkarma-citation="entities:33464:1" rel="noopener">LG Energy Solution (373220 KS)</a> saw very strong demand for its mega US$10bn+ IPO.</li>
<li>While other IPO markets were in torpor, a number of placements continued to flow in.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

LG Energy Solution (373220 KS) saw very strong demand for its mega US$10bn+ IPO.
While other IPO markets were in torpor, a number of placements continued to flow in.


ECM Weekly (16th Jan 2022) - LG Energy, Hyundai Engineering, Nippon Paint, Sunac, JL Mag, JREITs

India

Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company. It offers a comprehensive portfolio of services including IT infrastructure services, engineering and industrial services, business intelligence, and cloud services, along with various business solutions to multiple industries. TCS is headquartered in Mumbai, Maharashtra, India, and was founded in 1968.

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Tata Consultancy Services (TCS IN)

Delhivery Pre-IPO - The Positives - Riding the E-Commerce Boom

Delhivery is looking to raise US$1bn in its upcoming India IPO, the company is backed by a host of financial investors, the largest being Softbank.

Sumeet Singh