In today’s briefing:
- Ola Electric IPO Lockup – US$1.6bn+ Lockup Release
- The Religare Controversy: A Corporate Battle
- The Beat Ideas: Excel Industries Ltd
- Dr Agarwal’s Healthcare IPO Trading – Decent Anchor Demand but Subdued Overall Coverage
Ola Electric IPO Lockup – US$1.6bn+ Lockup Release
- Ola Electric (OLAELEC IN) raised around US$734m in its India IPO in August 2024. The lockup for its pre-IPO investors is set to expire soon.
- Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells
- In this note, we will talk about the lockup dynamics and possible placement.
The Religare Controversy: A Corporate Battle
- Religare Enterprises (RELG IN)’s saga intensifies as CEO Rashmi Saluja sues her own company amid takeover bids by the Burman family, amid insider trading allegations.
- The battle, initially a takeover bid, has evolved into an ED probe, halting shareholder meetings and raising serious governance concerns.
- Everything lies in the hands of Religare’s shareholder since to gain the helm again Rashmi needs more than 50% votes in the upcoming meeting on 7-Feb.
The Beat Ideas: Excel Industries Ltd
- Excel Industries (EXL IN) faced severe financial declines in FY24 but showed early Q2 FY25 improvement through higher export revenues and better margins amid strategic capacity expansion and new partnerships.
- Its diversified product portfolio, especially DETC, and proactive R&D investments are key to overcoming volatility, making Excel Industries pivotal in sustaining India’s chemical innovation despite market headwinds.
- Investors should note that despite recent downturns, targeted expansion and strategic partnerships could reverse performance trends, revealing potential long-term value if operational challenges are resolved.
Dr Agarwal’s Healthcare IPO Trading – Decent Anchor Demand but Subdued Overall Coverage
- Dr Agarwal’s Health Care Ltd (8140044Z IN) raised around US$350m in its India IPO.
- Dr Agarwal’s Health Care is a healthcare/hospital chain in India providing eyecare services, including surgeries; consultations, diagnoses, non-surgical treatments; and sells opticals, contact lens, accessories and eyecare related pharmaceutical products.
- We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
