In today’s briefing:
- Fractal Analytics Pre-IPO Tearsheet
- The Beat Ideas: Lumax Auto Technologies – Accelerating Ahead with the 20.20.20.20 Strategy
- Nazara Technologies in Turbulence: Temporary Setback or Lasting Damage?
- Mangal Electrical IPO: A Strong Force in Transformer and Power Solutions?
Fractal Analytics Pre-IPO Tearsheet
- Fractal Analytics Ltd (2453623D IN) is looking to raise about US$560m in its upcoming India IPO. The deal will be run by Axis, GS, MS and Kotak.
- Fractal Analytics Limited is an enterprise artificial intelligence (AI) company which supports large global enterprises with data-driven insights and assists them in their decision making through its end-to-end AI solutions.
- According to the Everest Report, FAL was India’s leading pure-play enterprise data, analytics and AI company, recognized globally, with capabilities across the data, analytics and AI (DAAI) value chain.
The Beat Ideas: Lumax Auto Technologies – Accelerating Ahead with the 20.20.20.20 Strategy
- Lumax’s strong product portfolio, global partnerships, and 80% market share in key segments position it as a dominant player in India’s automotive component industry.
- Lumax’s strategic acquisitions, including IAC India and GreenFuel Mobility, and the “NorthStar Strategy” aim to drive revenue growth, operating margins, and leadership in clean mobility solutions.
- Lumax’s SHIFT project enable technological integration, enhancing product offerings and content per vehicle, positioning LATL for long-term growth in the automotive market.
Nazara Technologies in Turbulence: Temporary Setback or Lasting Damage?
- The Lok Sabha passed the Online Gaming Bill, 2025, banning all RMG platforms and putting Nazara’s PokerBaazi investment at significant risk.
- While Nazara has no direct RMG exposure, its INR 805 crore PokerBaazi bet could turn worthless, raising concerns over capital allocation and valuation pressure.
- Core businesses remain strong, but regulatory uncertainty warrants caution. Near-term downside risks persist; long-term clarity hinges on execution and policy direction.
Mangal Electrical IPO: A Strong Force in Transformer and Power Solutions?
- MEIL is well-positioned for long-term growth due to its expertise in transformer components and EPC services, strong market presence, with a solid focus on India’s energy infrastructure development.
- MEIL benefits from both backward and forward integration, enhancing operational efficiency and reducing raw material dependency. Its diversified customer base spans multiple sectors, reducing exposure to sector-specific risks.
- MEIL’s has shown steady growth, driven by its core and EPC businesses. Despite risks like raw material volatility, the company is well-placed to capitalize on India’s growing power infrastructure demand.
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