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>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the deal flow continues unabated, although a lot of listing in Hong Kong didn't do to well last week.</li>
<li>On the placements front, there were a number of deals, with a few right at lockup expiry.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the deal flow continues unabated, although a lot of listing in Hong Kong didn't do to well last week.
On the placements front, there were a number of deals, with a few right at lockup expiry.


ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

Tekscend Photomask / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, India saw a host of listing, while HK is gearing up a busy year end.</li>
<li>On the placements front, we had a look at some of the IPO lockups. There weren't any large placements this week.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, India saw a host of listing, while HK is gearing up a busy year end.
On the placements front, we had a look at some of the IPO lockups. There weren't any large placements this week.


ECM Weekly (20 October 2025)- Sany, Seres, JST, Fibocom, Tekscend, FineToday, LG India, DIY, Duality

APAC IPOs & Placements, Aequitas Research

Hong Jie Seow

APAC IPOs & Placements

Tenneco Clean Air India Ltd / Equity Capital Markets

Tenneco Clean Air India Ltd (1880671D IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tenneco-clean-air-india-ltd" target="_blank" data-smartkarma-citation="entities:45456:1" rel="noopener">Tenneco Clean Air India Ltd (1880671D IN)</a> is looking to raise about US$350m in its upcoming India IPO.</li>
<li>Tenneco Clean Air India (TCAIL) designs and manufactures clean air, powertrain, and suspension solutions for Indian OEMs, export markets, and the aftermarket, serving PVs, CVs, OHs, and industrial applications.</li>
<li>In this note, we look at the company’s past performance.</li>
</ul>



Tenneco Clean Air India Ltd (1880671D IN) is looking to raise about US$350m in its upcoming India IPO.
Tenneco Clean Air India (TCAIL) designs and manufactures clean air, powertrain, and suspension solutions for Indian OEMs, export markets, and the aftermarket, serving PVs, CVs, OHs, and industrial applications.
In this note, we look at the company’s past performance.


Tenneco Clean Air India Ltd Pre-IPO: Unsustainable Growth in Profitability

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the previous week was another busy week for listings, with mixed results.</li>
<li>On the placements front, we looked at the possible placements for <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> and <a href="https://www.smartkarma.com/entities/state-bank-of-india" target="_blank" data-smartkarma-citation="entities:160:1" rel="noopener">State Bank Of India (SBIN IN).</a>
</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the previous week was another busy week for listings, with mixed results.
On the placements front, we looked at the possible placements for Meituan (3690 HK) and State Bank Of India (SBIN IN).



ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

Rosita Fernandes

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tenneco-clean-air-india-ltd" target="_blank" data-smartkarma-citation="entities:45456:1" rel="noopener">Tenneco Clean Air India Ltd (1880671D IN)</a>  (TCAIL)  is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are JM Fin, Citi, Axis, HSBC.</li>
<li>TCAIL designs and manufactures clean air, powertrain, and suspension solutions for Indian OEMs, export markets, and the aftermarket, serving PVs, CVs, OHs, and industrial applications.</li>
<li>According to the CRISIL Report, TCAIL was the largest supplier of Clean Air Solutions to Indian commercial truck (CT) OEMs with a 60% market share in FY24.</li>
</ul>



Tenneco Clean Air India Ltd (1880671D IN)  (TCAIL)  is looking to raise about US$350m in its upcoming India IPO. The bookrunners for the deal are JM Fin, Citi, Axis, HSBC.
TCAIL designs and manufactures clean air, powertrain, and suspension solutions for Indian OEMs, export markets, and the aftermarket, serving PVs, CVs, OHs, and industrial applications.
According to the CRISIL Report, TCAIL was the largest supplier of Clean Air Solutions to Indian commercial truck (CT) OEMs with a 60% market share in FY24.


Tenneco Clean Air India Ltd Pre-IPO Tearsheet

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Tenneco Clean Air India Ltd (1880671D IN)

ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

ECM Weekly (20 October 2025)- Sany, Seres, JST, Fibocom, Tekscend, FineToday, LG India, DIY, Duality

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Tenneco Clean Air India Ltd Pre-IPO: Unsustainable Growth in Profitability

Tenneco Clean Air India Ltd plans to raise $350m in India IPO, specializing in clean air, powertrain, and suspension solutions for various markets.

Hong Jie Seow

ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Tenneco Clean Air India Ltd Pre-IPO Tearsheet

Tenneco Clean Air India Ltd (TCAIL) plans to raise $350m in India IPO, leading supplier of clean air solutions for Indian commercial truck OEMs.

Rosita Fernandes

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ECM Weekly (10 November 2025) - Seres, Pony, WeRide, Joyson, DIY, Maynilad, Northsand, Softcare

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

ECM Weekly (20 October 2025)- Sany, Seres, JST, Fibocom, Tekscend, FineToday, LG India, DIY, Duality

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Tenneco Clean Air India Ltd Pre-IPO: Unsustainable Growth in Profitability

​Tenneco Clean Air India Ltd plans to raise $350m in India IPO, specializing in clean air, powertrain, and suspension solutions for various markets.

Hong Jie Seow

ECM Weekly (14 July 2025) - Meituan, SBI, Kokusai, NTT, Daehan, Anthem, SICC, CIG, FWD

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Tenneco Clean Air India Ltd Pre-IPO Tearsheet

​Tenneco Clean Air India Ltd (TCAIL) plans to raise $350m in India IPO, leading supplier of clean air solutions for Indian commercial truck OEMs.

Rosita Fernandes

Tenneco Clean Air India Ltd plans to raise $350m in India IPO, specializing in clean air, powertrain, and suspension solutions for various markets.

Tenneco Clean Air India Ltd (TCAIL) plans to raise $350m in India IPO, leading supplier of clean air solutions for Indian commercial truck OEMs.