APAC IPOs & Placements, Aequitas Research

Clarence Chu

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indegene-limited" target="_blank" data-smartkarma-citation="entities:36629:1" rel="noopener">Indegene Limited (1864095D IN)</a> is looking to raise about US$220m in its upcoming India IPO.</li>
<li>Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.</li>
<li>We looked at the firm’s past performance in an earlier note. In this note, we look at the RHP updates.</li>
</ul>



Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO.
Indegene is a “digital-first” commercialisation firm with an exclusive focus on the global life sciences industry.
We looked at the firm’s past performance in an earlier note. In this note, we look at the RHP updates.


Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indegene-limited" target="_blank" data-smartkarma-citation="entities:36629:1" rel="noopener">Indegene Limited (1864095D IN)</a> has set IPO price band at INR430–452 per share. The IPO consists of fresh issue as well as OFS by existing shareholders.</li>
<li>Considering FY24 annualized post-IPO EPS of INR13.48, Indegene seeks a P/E valuation of 31.9–33.5x.</li>
<li>Considering niche business focus, proven execution capability, marquee clientele, long-standing client relationship, life science focus, and comprehensive offering, Indegene’s valuation seems quite attractive.</li>
</ul>



Indegene Limited (1864095D IN) has set IPO price band at INR430–452 per share. The IPO consists of fresh issue as well as OFS by existing shareholders.
Considering FY24 annualized post-IPO EPS of INR13.48, Indegene seeks a P/E valuation of 31.9–33.5x.
Considering niche business focus, proven execution capability, marquee clientele, long-standing client relationship, life science focus, and comprehensive offering, Indegene’s valuation seems quite attractive.


Indegene Limited Pre-IPO: Subscribe on Profitable Niche Business Model and Attractive Valuation

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Veeva Systems Inc Class A / Equity Bottom-Up

<ul><li>Veeva Systems posted robust results for its Q4 and Fiscal 2024 year during its earnings call.</li><li>Revenues for the quarter totalled $631 million and for the year they were $2.4 billion, both exceeding guidance.</li><li>Non GAAP operating income surpassed expectations too, with $239 million for Q4 and $843 million for the full year.</li></ul>

Veeva Systems posted robust results for its Q4 and Fiscal 2024 year during its earnings call.Revenues for the quarter totalled $631 million and for the year they were $2.4 billion, both exceeding guidance.Non GAAP operating income surpassed expectations too, with $239 million for Q4 and $843 million for the full year.

Veeva Systems Inc.: Expansion of the Data Cloud & 5 Other Factors Driving Growth! - Financial Forecasts

<ul><li>Veeva Systems Inc. exceeded Wall Street's revenue and earnings expectations.</li><li>Notably, total revenue reached an impressive $617 million, accompanied by a non-GAAP operating income of $235 million.</li><li>This expansion positions Veeva to contribute to the increased efficiency and effectiveness of the life sciences industry across a broader spectrum.</li></ul>

Veeva Systems Inc. exceeded Wall Street's revenue and earnings expectations.Notably, total revenue reached an impressive $617 million, accompanied by a non-GAAP operating income of $235 million.This expansion positions Veeva to contribute to the increased efficiency and effectiveness of the life sciences industry across a broader spectrum.

Veeva Systems Inc.: Surpassing Wall Street - A New Era in Life Sciences Cloud? - Major Drivers

<ul><li>Veeva Systems managed to exceed the revenue expectations as well as the earnings expectations of Wall Street, with a total revenue of $590 million and a non-GAAP operating income of $212 million.</li><li>The Veeva team has made some truly impressive accomplishments as they develop the next generation of CRM.</li><li>Nearly 25% of their revenue comes from Veeva CRM and their add-ons.</li></ul>

Veeva Systems managed to exceed the revenue expectations as well as the earnings expectations of Wall Street, with a total revenue of $590 million and a non-GAAP operating income of $212 million.The Veeva team has made some truly impressive accomplishments as they develop the next generation of CRM.Nearly 25% of their revenue comes from Veeva CRM and their add-ons.

Veeva Systems Inc.: An Insider Peek Into Their Financial Operations! - Major Drivers

United States

Veeva Systems Inc. provides cloud-based business services. The Company offers enterprise applications, multichannel platform, customer relationship, and content management solutions. Veeva Systems serves customers in the United States.

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Veeva Systems Inc Class A (VEEV US)

Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO. We looked at the firm’s past performance in an earlier...

Clarence Chu

Veeva Systems Inc.: Expansion of the Data Cloud & 5 Other Factors Driving Growth! - Financial Forecasts

Veeva Systems posted robust results for its Q4 and Fiscal 2024 year during its earnings call. Revenues for the quarter totalled $631 million and...

Baptista Research

Veeva Systems Inc.: Surpassing Wall Street - A New Era in Life Sciences Cloud? - Major Drivers

Veeva Systems Inc. exceeded Wall Street's revenue and earnings expectations. Notably, total revenue reached an impressive $617 million,...

Baptista Research

Veeva Systems Inc.: An Insider Peek Into Their Financial Operations! - Major Drivers

Veeva Systems managed to exceed the revenue expectations as well as the earnings expectations of Wall Street, with a total revenue of $590 million...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indegene Pre-IPO - RHP Updates - Client Base Continued to Grow, and Margins Have Begun Stabilizing

Indegene Limited (1864095D IN) is looking to raise about US$220m in its upcoming India IPO. We looked at the firm’s past performance in an earlier...

Clarence Chu

Indegene Limited Pre-IPO: Subscribe on Profitable Niche Business Model and Attractive Valuation

Indegene is raising INR18B via Indian IPO. The IPO consists of fresh issuance of equity shares worth INR7.6B and an OFS of 23.9M equity shares by...

Tina Banerjee

Veeva Systems Inc.: Expansion of the Data Cloud & 5 Other Factors Driving Growth! - Financial Forecasts

Veeva Systems posted robust results for its Q4 and Fiscal 2024 year during its earnings call. Revenues for the quarter totalled $631 million and...

Baptista Research

Veeva Systems Inc.: Surpassing Wall Street - A New Era in Life Sciences Cloud? - Major Drivers

Veeva Systems Inc. exceeded Wall Street's revenue and earnings expectations. Notably, total revenue reached an impressive $617 million,...

Baptista Research

Veeva Systems Inc.: An Insider Peek Into Their Financial Operations! - Major Drivers

Veeva Systems managed to exceed the revenue expectations as well as the earnings expectations of Wall Street, with a total revenue of $590 million...

Baptista Research