Daily BriefsIPOs and Placements

Equity Capital Markets: Policybazaar Insurance Web Aggregator, Cisarua Mountain Dairy and more

In today’s briefing:

  • PB Fintech (Policybazaar) IPO Trading – Mixed Bag Demand
  • ECM Weekly (14th November 2021) – KakaoBank, Ventia, Paytm, Mitratel, SF Intra-City, Sapphire Foods
  • Cisarua Mountain Dairy  (Cimory) IPO – Giving It the Benefit of Margin Doubts

PB Fintech (Policybazaar) IPO Trading – Mixed Bag Demand

By Sumeet Singh

  • PB Fintech, India’s largest online platform for insurance and lending products, raised  US$793m via selling a mix of primary and secondary shares in its India IPO.
  • The company is backed by a strong set of investors including Info Edge, Tencent, Temasek, Tiger Global and Softbank.
  • In this note, we will talk about the updates since our last note.

ECM Weekly (14th November 2021) – KakaoBank, Ventia, Paytm, Mitratel, SF Intra-City, Sapphire Foods

By Zhen Zhou, Toh

  • Aequitas Research puts out a weekly update on the deals that have been covered by the team recently along with updates for upcoming IPOs.
  • Hong Kong IPO pipeline looks strong with Weilong Delicious Global, CANbridge Pharmaceuticals,  Asymchem Laboratories, and China Tourism Group either close to approval or seeking approval with HKEX soon.
  • Indonesia ECM is looking busier than ever this year with the launch of Cisarua Mountain Dairy (Cimory) and PT Avia Avian IPO bookbuilds this week.

Cisarua Mountain Dairy  (Cimory) IPO – Giving It the Benefit of Margin Doubts

By Sumeet Singh

  • PT Cisarua Mountain Dairy (CMD), a producer of dairy and consumer foods, aims to raise up to US$263m in its Indonesian IPO.
  • It is a market leader in the overall yogurt sub-category as well as in the spoonable and drinking yogurt segments with a market share of 53.2%, 71.9% and 50.3%, respectively. 
  • In our previous notes, links here and here,  we spoke about the various aspects of the deal. In we will do a peer comparison and talk about valuations.

Before it’s here, it’s on Smartkarma