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>SK Shieldus (SKS) aims to raise around US$800m via issuing a mix of primary and secondary shares in its Korea IPO.</li>
<li>SKS is the security subsidiary of SK Square. It provides security services across four main categories: information security/Cybersecurity, convergence security, physical security, and Safety &amp; Care.</li>
<li>In this note, we will look at the refiling updates.</li>
</ul>


SK Shieldus (SKS) aims to raise around US$800m via issuing a mix of primary and secondary shares in its Korea IPO.
SKS is the security subsidiary of SK Square. It provides security services across four main categories: information security/Cybersecurity, convergence security, physical security, and Safety &amp; Care.
In this note, we will look at the refiling updates.


SK Shieldus IPO - Refiling Disclosures Should Make Multiples Move, LOWER.

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul>
<li>Wipro Ltd is India’s one of the largest IT services exporter and has a strong global presence</li>
<li>It provides industry-wide solutions including next-gen services like Cloud Computing, Digital Transformations, IoT, Machine Learning, and ADM, among others.</li>
<li>Wipro also has expertise in providing solutions in banking and financial and other services through its product and platform portfolio</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Wipro Ltd is India’s one of the largest IT services exporter and has a strong global presence
It provides industry-wide solutions including next-gen services like Cloud Computing, Digital Transformations, IoT, Machine Learning, and ADM, among others.
Wipro also has expertise in providing solutions in banking and financial and other services through its product and platform portfolio

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In early February 2022, 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> officially announced a INR180bn (~US$2.4bn) Buyback which is one of the largest in Indian stock market history.</li>
<li>Today the company published the Letter of Offer confirming the final details and the expected timeline for this Buyback.</li>
<li>Below is a closer look at these details and their implications for shareholders.</li>
</ul>


In early February 2022, Indian IT giant Tata Consultancy Svcs (TCS IN) officially announced a INR180bn (~US$2.4bn) Buyback which is one of the largest in Indian stock market history.
Today the company published the Letter of Offer confirming the final details and the expected timeline for this Buyback.
Below is a closer look at these details and their implications for shareholders.


Tata Consultancy Services (TCS IN): US$2.4bn Mega Buyback - Letter of Offer Out; TCS Cheap Vs Peers

<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

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Wipro is an IT, consulting &amp; BPO catering to BFSI, health, consumer, energy &amp; utility, technology and communication.</li><li>With 230000 employees, it serves clients across six continents</li><li>We maintain BUY on strong deal momentum especially on large size deals. We value Wipro at Rs 750 i.e. 26x P/E on FY24E EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Wipro is an IT, consulting &amp; BPO catering to BFSI, health, consumer, energy &amp; utility, technology and communication.With 230000 employees, it serves clients across six continentsWe maintain BUY on strong deal momentum especially on large size deals. We value Wipro at Rs 750 i.e. 26x P/E on FY24E EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Wipro Limited is an Indian multinational technology company that provides information technology, consulting, and business process services. Its offerings include digital strategy, cloud transformation, cybersecurity, data analytics, and artificial intelligence solutions across various industries. The company is headquartered in Bengaluru, India, and was founded on December 29, 1945.

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Wipro (WIT US)

SK Shieldus IPO - Refiling Disclosures Should Make Multiples Move, LOWER.

SK Shieldus (SKS) aims to raise around US$800m via issuing a mix of primary and secondary shares in its Korea IPO. In this note we will look at the...

Sumeet Singh

Pick of the Week: Wipro Ltd

Wipro Ltd is India’s one of the largest IT services exporter and has a strong global presence. It provides industry-wide solutions including next...

Axis Direct

Tata Consultancy Services (TCS IN): US$2.4bn Mega Buyback - Letter of Offer Out; TCS Cheap Vs Peers

The Letter of Offer for the INR180bn (~US$2.4bn) Buyback by Tata Consultancy Services has been published. No major changes is pro-ration...

Janaghan Jeyakumar, CFA

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

Indian IT giant TCS officially launched a US$2.4bn Buyback which is one of the largest buybacks in Indian history. The Buyback Price is INR4,500...

Janaghan Jeyakumar, CFA

Wipro Ltd: Weak Margins in IT Services

five years (from ~Rs 178 in January 2017 to ~Rs 640 levels in January 2022). We maintain BUY on strong deal momentum especially on large size deals...

ICICI Securities Limited

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