In today’s briefing:
- Paradeep Phosphates IPO – Smallest of the Lot and Fairly Valued as Well
- Leapmotor Pre-IPO – The Negatives – Related Party Sanctions, Lags Peers
Paradeep Phosphates IPO – Smallest of the Lot and Fairly Valued as Well
- Paradeep Phosphates (75690Z IN) is looking to raise up to US$194m in its India IPO. The IPO will consist of a mix of primary and secondary shares.
- Paradeep Phosphates (PP) is a fertilizer manufacturing company based in India. The firm engages in manufacturing, trading, distribution and sales of a variety of complex fertilizers.
- At listing, while PP would be the smallest peer on the revenue and mcap fronts, it trails our identified peer set on the margin front as well.
Leapmotor Pre-IPO – The Negatives – Related Party Sanctions, Lags Peers
- Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
- It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.
- In this note, we talk about the not so positive aspects of the deal.
Before it’s here, it’s on Smartkarma
