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

Jio Platforms Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms</a> is looking to raise up to US$3.75bn in its upcoming India IPO.</li>
<li>Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.</li>
<li>We have looked at the company’s past performance and other deal dynamics in our previous note. In this note, we talk about valuations.</li>
</ul>



Jio Platforms is looking to raise up to US$3.75bn in its upcoming India IPO.
Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.
We have looked at the company’s past performance and other deal dynamics in our previous note. In this note, we talk about valuations.


Aequitas: Jio Platforms Pre-IPO - Thoughts on Valuations

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: South Korea 1Q 2024 GDP growth report.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a>, <a href="https://www.smartkarma.com/entities/bharti-airtel-ltd" target="_blank" data-smartkarma-citation="entities:953:1" rel="noopener">Bharti Airtel (BHARTI IN)</a>, <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a>
</li>
</ul>


The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: South Korea 1Q 2024 GDP growth report.

 Companies mentioned:Tencent (700 HK), Bharti Airtel (BHARTI IN), Meituan (3690 HK)



GEMWeekly (26 Apr 2024): South Korea Macro; Tencent, Bharti Airtel, Meituan

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

Equity Bottom-Up

<ul>
<li>The four major Dutch fixed internet providers (KPN, Odido, VodafoneZiggo and DELTA) have rejected demands by the Dutch Consumer Association (‘Consumentenbond’) to end differential pricing between new and existing customers.</li>
<li>Consumentenbond highlights that “sleeping” subscribers who signed up from 2020 onward now pay 25–30% more than at inception after successive inflation-linked increases, while aggressive acquisition offers continue to undercut those rates for new joiners.</li>
<li>A concrete illustration: a KPN customer who took the lowest-tier package in early 2022 at EUR 42.50/month now pays EUR 51.86, versus promotional first-year pricing of EUR 35.00 available to new customers in the latest campaign.</li>
</ul>


The four major Dutch fixed internet providers (KPN, Odido, VodafoneZiggo and DELTA) have rejected demands by the Dutch Consumer Association (‘Consumentenbond’) to end differential pricing between new and existing customers.
Consumentenbond highlights that “sleeping” subscribers who signed up from 2020 onward now pay 25–30% more than at inception after successive inflation-linked increases, while aggressive acquisition offers continue to undercut those rates for new joiners.
A concrete illustration: a KPN customer who took the lowest-tier package in early 2022 at EUR 42.50/month now pays EUR 51.86, versus promotional first-year pricing of EUR 35.00 available to new customers in the latest campaign.


What's News in Amsterdam - 26 August (KPN/Ziggo Group | Kendrion)

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

<ul>
<li>Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.</li>
<li>FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.</li>
<li>We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.</li>
</ul>


Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.
FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.
We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.


Spark NZ FY26 Preview—Testing the Signal

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jio-platforms-ltd" target="_blank" data-smartkarma-citation="entities:50269:1" rel="noopener">Jio Platforms</a> (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO.</li>
<li>Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Jio Platforms (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO.
Jio Platforms Ltd (JPL) is a technology and digital services platform company promoted by Reliance Industries, built on a proprietary digital technology stack and pan-India connectivity infrastructure.
In this note, we talk about the positive aspects of the deal.


Aequitas: Jio Platforms Pre-IPO - The Positives - The Long Planned Disruption

United Kingdom

Vodafone is a British multinational telecommunications company that provides mobile and fixed services, including voice, messaging, data, and television. The company also offers Internet of Things (IoT) solutions, cloud services, and cybersecurity for businesses. Vodafone's global headquarters are in Newbury, Berkshire, England, and it was officially founded in 1991, evolving from Racal Telecom Limited.

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Vodafone (VOD LN)

Aequitas: Jio Platforms Pre-IPO - Thoughts on Valuations

Jio Platforms is looking to raise up to US$3.75bn in its upcoming India IPO. We have looked at the past performance in our earlier notes, In this...

Sumeet Singh

GEMWeekly (26 Apr 2024): South Korea Macro; Tencent, Bharti Airtel, Meituan

The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global...

Wium Malan, CFA

What's News in Amsterdam - 26 August (KPN/Ziggo Group | Kendrion)

Consumentenbond highlights that “sleeping” subscribers who signed up from 2020 onward now pay 25–30% more than at inception after successive...

The IDEA!

Spark NZ FY26 Preview—Testing the Signal

Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026. FY26 EBITDAI and free cash flow guidance has been reiterated at its recent...

Forsyth Barr

Aequitas: Jio Platforms Pre-IPO - The Positives - The Long Planned Disruption

Jio Platforms (JPL) is looking to raise up to US$3.75bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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