In today’s briefing:
- Lenskart Solutions Pre-IPO – The Negatives – International Ops Largely Acquisition Driven
- Atom Therapeutics (新元素) Pre-IPO Quick Take: Moderate Innovation and Intense Competition
- Molbio Diagnostics Limited Pre-IPO: Steady Growths in Topline And Profitability
- BillionToOne, Inc (BLLN): Precision Diagnostics Company Sets Terms, Seeking Up to $2.4b Valuation
- Cardinal Infrastructure Group Inc. (CDNL): Peeking at the IPO Prospectus of a Utility Developer
- Ningbo Joyson A/H Listing: Spotty Track Record but a Potential “robotics Play”
Lenskart Solutions Pre-IPO – The Negatives – International Ops Largely Acquisition Driven
- Lenskart Solutions is looking to raise about US$1bn in its upcoming India IPO.
- Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.
- In this note, we talk about the not-so-positive aspects of the deal.
Atom Therapeutics (新元素) Pre-IPO Quick Take: Moderate Innovation and Intense Competition
- Atom Therapeutics, a China-based clinical-stage biotech company, is looking to raise at least USD 100 million via a Hong Kong listing. CITIC is the sole sponsor.
- In this note, we look at the company’s core product, ABP-671.
- We also look at the company’s pre-IPO investors and management team.
Molbio Diagnostics Limited Pre-IPO: Steady Growths in Topline And Profitability
- Molbio Diagnostics Limited (1788863D IN) is looking to raise US$229m in its upcoming India IPO.
- Molbio Diagnostics is a healthcare technology company specializing in point-of-care molecular diagnostics. Its flagship product, Truenat, is a portable, battery-operated PCR testing system used for the rapid detection of infection.
- In this note, we look at the company’s past performance.
BillionToOne, Inc (BLLN): Precision Diagnostics Company Sets Terms, Seeking Up to $2.4b Valuation
- BillionToOne (BLLN US) set terms for its IPO on October 17th by offering 3.846 million shares at $49-$55 and to debut on November 6th.
- The underwriters have reserved up to 5% of the shares of Class A common stock through a directed share program.
- There is a lot to like about this company including the explosive revenue growth and the narrowing losses.
Cardinal Infrastructure Group Inc. (CDNL): Peeking at the IPO Prospectus of a Utility Developer
- Cardinal Infrastructure Group Inc. is an infrastructure investment company focused on acquiring, owning and operating core infrastructure assets across sectors such as transportation, energy, utilities and data-centers.
- Their revenue was $153.9 million and $187.9 million and their net income was $16.7 million and $16.1 million in the first half of 2024 and 2025, respectively.
- Today, they primarily operate in North Carolina, specifically the greater Charlotte, Raleigh, and Greensboro areas of North Carolina.
Ningbo Joyson A/H Listing: Spotty Track Record but a Potential “robotics Play”
- Ningbo Joyson Electronic (600699 CH), a Chinese intelligent automotive technology provider, aims to raise up to US$500m in its H-share listing.
- It is an intelligent automotive technology solution provider, offering advanced products and solutions across the auto part industry’s key areas including automotive electronics and automotive safety.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
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