In today’s briefing:
- HDB Financial Services Pre-IPO – The Positives – Reputed Parent and Strong AUM Growth
- Vikran Engineering Limited Pre-IPO – Capitalizing On Core Competencies But With Concentration Risks
- HDB Financial Services Pre-IPO – The Negatives – Performance Has Been Slipping
- Lucror Analytics – Morning Views Asia
HDB Financial Services Pre-IPO – The Positives – Reputed Parent and Strong AUM Growth
- HDB Financial Services (HDBFS) is looking to raise around US$1.5bn in its upcoming India IPO.
- HDBFS is a leading retail-focused non-banking financial company (NBFC) in India, in terms of total gross loan book size, according to the CRISIL Report.
- In this note, we talk about the positive aspects of the deal.
Vikran Engineering Limited Pre-IPO – Capitalizing On Core Competencies But With Concentration Risks
- Vikran Engineering Limited (1635154D IN) (VEL) is planning to raise about US$119m through its upcoming India IPO.
- Vikran Engineering Limited (VEL) based in Mumbai, operates as an Engineering, Procurement & Construction (EPC) firm, focusing on power, water, and railway infrastructure projects.
- According to CRISIL Report, VEL has experienced fastest growth in profitability, with a 236.94% CAGR growth in PAT and a 130.02% CAGR growth in EBITDA between FY22 to FY24.
HDB Financial Services Pre-IPO – The Negatives – Performance Has Been Slipping
- HDB Financial Services is looking to raise around US$1.5bn in its upcoming India IPO.
- HDBFS is a leading retail-focused non-banking financial company (NBFC) in India, in terms of total gross loan book size, according to the CRISIL Report.
- In this note, we talk about the not-so-positive aspects of the deal.
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Greenko Energy, New World Development, Softbank Group
- In the US, treasuries climbed slightly yesterday, amid a lack of macro news and as President Donald Trump held back from implementing tariffs on his first day in office. The UST curve bull flattened, with the yield on the 1Y UST declining 1 bp to 4.28%, while the 10Y fell 5 bps to 4.58%. Similarly, equities rose on the back of optimism that Mr Trump’s policies will boost US corporations.
- This came after he unveiled a new investment push for artificial intelligence led by Softbank Group, Open AI and Oracle Corp (see comment below). The S&P 500 climbed 0.9% to 6,049, while the Nasdaq was up 0.6% at 19,757.
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