In today’s briefing:
- Jio Platforms Pre-IPO: Peer Comparison and Valuation
- Bonfiglioli Transmissions IPO: Gearing Well To Power Up Ahead
Jio Platforms Pre-IPO: Peer Comparison and Valuation
- Jio Platforms, a digital connectivity provider, has filed its draft prospectus. Its 19 bookrunners include international banks MS, UBS, BOA, Citi, CLSA, GS, HSBC, Jefferies, JPM and BNP Paribas.
- Our previous note included the company’s business, financials and pre-IPO investor backing.
- In this note, we compare the company with its listed peers, forecast earnings and provide our thoughts on valuation.
Bonfiglioli Transmissions IPO: Gearing Well To Power Up Ahead
- Bonfiglioli Transmissions will launch its India IPO. The company manufacture a wide range of mission-critical and highly precision engineered gear motors, gearboxes and drive systems used across diverse end-user markets.
- In 1H26, Bonfiglioli Transmissions total income increased by 18% to INR 11.4B. The company posted a net profit of INR 1.5B, up 29% YoY. Net margin expanded 160bps to 13.3%.
- Valuation sought seems relatively reasonable. Bonfiglioli’s market presence, diversified portfolio, brand recognition, sustained growth and margin strength lends it value for the long term and makes it attractive for investors.
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