In today’s briefing:
- OnEMI Technology Solutions (Kissht) Pre-IPO Tearsheet
- CleanMax Enviro Energy Solutions Pre-IPO Tearsheet
- Sichuan Yingfa Ruineng Technology Pre-IPO Tearsheet
- Grupo Aeroméxico (AERO): Peeking at the IPO Prospectus of Apollo-Backed Airline Operator
- Lumino Industries Limited Pre-IPO: Strong Momentum but Rising Risks Temper Outlook
OnEMI Technology Solutions (Kissht) Pre-IPO Tearsheet
- OnEMI Technology Solutions (1553346D IN) is looking to raise about US$172m in its upcoming India IPO. The bookrunners for the deal are JM Financial, HSBC, Nuvama, SBI Caps.
- Also known as Kissht, its products include personal loans for salaried and self-employed individuals for consumption and business needs, and loans against property for asset-owning MSMEs and salaried individuals.
- As of March 31, 2025, Kissht had 53.23m registered users, 9.16m customers, and INR 40,866m in AUM.
CleanMax Enviro Energy Solutions Pre-IPO Tearsheet
- CleanMax Enviro Energy Solutions Ltd (8382406Z IN) (CEESL) is looking to raise about US$570m in its upcoming India IPO.
- The deal, a combination of a fresh issue and an offer for sale, will be run by Axis, HSBC, IIFL, JPM, Nomura, BNP Paribas, Bob Caps and SBI Caps.
- CEESL is a provider of commercial and industrial renewable energy, specializing in delivering decarbonization solutions, including supplying renewable power and offering energy services and carbon credit solutions to customers.
Sichuan Yingfa Ruineng Technology Pre-IPO Tearsheet
- Sichuan Yingfa Ruineng Technology (SYRT HK) is looking to raise about US$100m in its upcoming Hong Kong IPO. The deal will be run by China Securities (International) and Huatai International.
- Sichuan Yingfa Ruineng Technology. (SYRT) is a specialized manufacturer of photovoltaic (PV) cells, focusing on research, development, manufacturing, and direct sales. It operates four production bases across China and overseas.
- China accounts for 89.3% of sales in FY24, with the rest coming from India, Vietnam, and the US. It is supported by 161 granted patents in China.
Grupo Aeroméxico (AERO): Peeking at the IPO Prospectus of Apollo-Backed Airline Operator
- In 2022 the company emerged from Bankruptcy, delisted from the Mexican Stock Exchange, and Apollo became one of the largest shareholders through its financing and debt-to-equity conversions.
- They are the leading airline at MEX, the largest airport in Mexico, which is capacity constrained, and accounted for 36.3% of total passengers flying within, to and from Mexico.
- Their total revenue was $2.69 billion and $2.50 billion and their net income was $346.7 million and $90.0 million in the first half of 2024 and 2025, respectively.
Lumino Industries Limited Pre-IPO: Strong Momentum but Rising Risks Temper Outlook
- Lumino Industries Ltd (0349204D IN) is looking to raise US$116m in its upcoming India IPO.
- Lumino is an engineering, procurement, and construction (EPC) player in India, focusing on the manufacturing of conductors, power cables, electrical wires, and others for the power distribution and transmission industry
- In this note, we look at the company’s past performance.
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