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

ICICI Prudential Life Insurance / Equity Capital Markets

ICICI Prudential Life Insurance (IPRU IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/icici-prudential-amc" target="_blank" data-smartkarma-citation="entities:45499:1" rel="noopener">ICICI Prudential AMC</a> is looking to raise about US$1.2bn in its upcoming India IPO.</li>
<li>IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



ICICI Prudential AMC is looking to raise about US$1.2bn in its upcoming India IPO.
IPru AMC is an asset management company involved in managing mutual funds, providing portfolio management services, managing alternative investment funds, and providing advisory services to offshore clients.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


ICICI Pru AMC IPO - Doesn’t Need to Trade at a Discount

Physicswallah Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/physicswallah-limited" target="_blank" data-smartkarma-citation="entities:45792:1" rel="noopener">Physicswallah</a> raised around US$430m in its India IPO, despite having a decent anchor book.</li>
<li>Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Physicswallah raised around US$430m in its India IPO, despite having a decent anchor book.
Physicswallah Ltd (PWL) offers test preparation courses for competitive examinations, and other courses such as for upskilling, across 13 education categories, including JEE, NEET, and UPSC, among others.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


Physicswallah IPO Trading - Decent Anchor but Low Demand

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

Emmvee Photovoltaic Power / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/emmvee-photovoltaic-power-limited" target="_blank" data-smartkarma-citation="entities:45501:1" rel="noopener">Emmvee Photovoltaic Power Limited (0198068D IN)</a> (EPPL) raised around US$327m in its India IPO.</li>
<li>EPPL is a vertically-integrated solar PV module and cell manufacturer in India, with operations spanning the solar PV modules production cycle from solar cell production to solar PV module assembly.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Emmvee Photovoltaic Power Limited (0198068D IN) (EPPL) raised around US$327m in its India IPO.
EPPL is a vertically-integrated solar PV module and cell manufacturer in India, with operations spanning the solar PV modules production cycle from solar cell production to solar PV module assembly.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Emmvee Photovoltaic Power IPO Trading - Lacklustre Demand

<ul>
<li>Pine Labs raised around US$450m in its India IPO. Overall demand was weak.</li>
<li>Pine Labs (PL) is a fintech firm focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>


Pine Labs raised around US$450m in its India IPO. Overall demand was weak.
Pine Labs (PL) is a fintech firm focused on digitizing commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/emmvee-photovoltaic-power-limited" target="_blank" data-smartkarma-citation="entities:45501:1" rel="noopener">Emmvee Photovoltaic Power Limited (0198068D IN)</a> (EPPL) is looking to raise about US$327m in its India IPO.</li>
<li>EPPL is a vertically-integrated solar PV module and cell manufacturer in India, with operations spanning the solar PV modules production cycle from solar cell production to solar PV module assembly.</li>
<li>In this note, we have a look at the company’s past performance, as well as talk about the peer comp and implied valuations in the price range.</li>
</ul>



Emmvee Photovoltaic Power Limited (0198068D IN) (EPPL) is looking to raise about US$327m in its India IPO.
EPPL is a vertically-integrated solar PV module and cell manufacturer in India, with operations spanning the solar PV modules production cycle from solar cell production to solar PV module assembly.
In this note, we have a look at the company’s past performance, as well as talk about the peer comp and implied valuations in the price range.


Emmvee Photovoltaic Power IPO - Integrated Scale, Bright Prospects

India

Tata Consumer Products Limited produces food and beverage products. The Company manufactures, sells, and exports tea, coffee, salt, oil, pulses, spices, and food products. Tata Consumer Products serves customers worldwide.

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Tata Consumer Products (TATACONS IN)

ICICI Pru AMC IPO - Doesn’t Need to Trade at a Discount

ICICI Prudential AMC is looking to raise about US$1.2bn in its upcoming India IPO. In this note, we talk about the recent updates and valuations.

Sumeet Singh

Physicswallah IPO Trading - Decent Anchor but Low Demand

Physicswallah raised around US$430m in its India IPO, despite having a decent anchor book. In this note, we talk about the trading dynamics.

Sumeet Singh

Emmvee Photovoltaic Power IPO Trading - Lacklustre Demand

Emmvee Photovoltaic Power Ltd raised around US$327m in its India IPO. In this note, we will talk about the demand and the trading dynamics.

Akshat Shah

Pine Labs IPO Trading - Low/No Demand

Pine Labs raised around US$450m in its India IPO. Overall demand was weak. In this note we talk about the trading dynamics.

Sumeet Singh

Emmvee Photovoltaic Power IPO - Integrated Scale, Bright Prospects

Emmvee Photovoltaic Power Ltd is looking to raise about US$327m in its India IPO. In this note, we have a look at its past performance, and talk...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)