Independent research on the U.S. markets, Baptista Research

Baptista Research

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. 

We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Array Digital Infrastructure / Equity Bottom-Up

<ul>
<li>Array Digital Infrastructure suddenly became one of the more interesting controlled-company stories in the telecom infrastructure space after Telephone and Data Systems (NYSE:TDS) proposed to acquire the remaining Array shares it does not already own in an all-stock transaction.</li>
<li>TDS already controls roughly 81.9% of Array, making this less of a traditional takeover battle and more of a corporate simplification move with major implications for minority shareholders.</li>
<li>Under the proposal, each Array share not owned by TDS would be exchanged for 0.86 TDS shares, assuming Array first pays a $10.40-per-share dividend tied to spectrum sale proceeds.</li>
</ul>


Array Digital Infrastructure suddenly became one of the more interesting controlled-company stories in the telecom infrastructure space after Telephone and Data Systems (NYSE:TDS) proposed to acquire the remaining Array shares it does not already own in an all-stock transaction.
TDS already controls roughly 81.9% of Array, making this less of a traditional takeover battle and more of a corporate simplification move with major implications for minority shareholders.
Under the proposal, each Array share not owned by TDS would be exchanged for 0.86 TDS shares, assuming Array first pays a $10.40-per-share dividend tied to spectrum sale proceeds.


Array Digital’s Tower Story Is Heating Up—So Why Is TDS Moving Now?