In today’s briefing:
- The Beat Ideas: Apcotex Industries Ltd, Beaten Down Value Pick
- IndiQube Spaces Ltd Pre-IPO Tearsheet
- Suven Pharmaceuticals (SUVENPHA IN): M&A to Expand Technical Capabilities and Enhance Scale
- New Year Marks Revival In Indian Synthetic Rubber Market
The Beat Ideas: Apcotex Industries Ltd, Beaten Down Value Pick
- Apcotex Industries (APCO IN) promoted by Ex-Asian Paints MD Mr. Atul Choksey, is a leading manufacturer of synthetic rubber and latex in India.
- Despite achieving record sales volume in H1 FY25, Apcotex experienced a decline in EBITDA margins due to RM pricing and Chinese competition.
- Apcotex Industries (APCO IN) is at its worst possible margins and applied for anti-dumping duty for its product.
IndiQube Spaces Ltd Pre-IPO Tearsheet
- IndiQube Spaces Ltd (1628202D IN) (ISL) is looking to raise about US$100m in its upcoming India IPO. The bookrunners for the deal are ICICI and JM fin.
- IndiQube Spaces Limited (ISL) is a managed workplace solutions provider offering technological workplace solutions.
- According to CBRE Report, ISL is among the leading operators in Bengaluru as of Jun 24.
Suven Pharmaceuticals (SUVENPHA IN): M&A to Expand Technical Capabilities and Enhance Scale
- Suven Pharmaceuticals (SUVENPHA IN) is acquiring56% equity share capital of ADC/XDC-focused CRDMO, NJ Bio for $64M, strengthening position in a high growth market.
- In June 2024, Suven announced the acquisition of a majority stake in an oligonucleotide focused CDMO player, Sapala Organics, thereby adding another high-growth complex technology to its CDMO business.
- Recently, shareholders have approved Suven’s merger with Cohance Lifesciences. Cohance has global leadership in select low-mid volume molecules as well as unique capabilities in the form of its ADC platform.
New Year Marks Revival In Indian Synthetic Rubber Market
- Highlights · Auto non-tire and tire sectors stage better show from Dec · Indian SR consumption goes up by 10.5% YoY in FY 2024-25 H1 · Atma Nirbhar Bharat making cushioning effect on imports The Indian Synthetic Rubber (SR) sector is reviving in the New Year after the lull until early December, with downstream tire and auto sector demand picking up, leading to a markup in the prices of certain variants.
- The players in the sector are optimistic about the momentum persisting until the end of the financial year in March 2025.
- The SBR prices, which were INR 190/kg on November 1, sharply fell to INR 175/kg by December but are picking up in the new year and have crossed INR 180/kg in early January.
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