In today’s briefing:
- Delhivery IPO: Valuation Insights
- Yunkang Group IPO – Futile to Try and Gauge Its Post-COVID Performance
Delhivery IPO: Valuation Insights
- Delhivery (1058656D IN) is the largest and fastest-growing 3PL express parcel delivery player in India. It will launch its Rs52.4 billion ($0.7 billion) IPO on 11 May.
- In Delhivery IPO: Yet to Convincingly Deliver, we noted that the negatives outweigh the positives.
- In this note, we look at the valuation metrics. We think that Delhivery is at best fairly valued at the IPO price range.
Yunkang Group IPO – Futile to Try and Gauge Its Post-COVID Performance
- Yunkang Group (2325 HK) is looking to raise US$139m in its Hong Kong IPO.
- Yunkang Group has grown its on-site diagnostics centers and has grand plans to add new centers with the IPO proceeds.
- However, its business performance had been largely impacted by COVID, where COVID-related tests amounted to 83.6% of total tests performed in FY21, while contributing 58.1% to total revenue.
Before it’s here, it’s on Smartkarma
