India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

Himanshu is a SEBI registered independent equity research analyst (SEBI Reg No. INH200009944, BSE Enlistment No. 5593). He has 11+ years of experience in buy-side equity research through his stints at CRISIL and Miras investments.
At CRISIL, he has conducted deep analysis in multiple sectors ranging from consumer discretionary to pharma/ chemicals as well as consumer staples.
At Miras Investments, his role was to analyse late-stage investment opportunities in India focusing on Pre-IPO and IPOs.

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. Our bottom-up ideas range from IPO/QIPs to special situations; the underlying criteria is to identify market dislocations that can generate 20+% IRR with a reasonable safety margin.
As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.

India focused: IPO, special situations

Edelweiss: Making the Right Moves | EAAA IPO by Q3FY27

Edelweiss Financial (EDEL IN): Attractive Valuations with Value Unlocking on the Anvil

Edelweiss: All Stars Aligned for Next Two Years

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Event-Driven

Edelweiss Financial Services / Event-Driven

<ul>
<li>Edelweiss reported slightly weaker than expected performance in the NBFC and Mutual Funds Business</li>
<li>However, management remains confident of a turnaround in both businesses, citing industry tailwinds, the credit cycle turning in favor of NBFCs, and robust retail inflows supporting MF profitability</li>
<li>We remain focused on the alternatives IPO as a value-unlocking event, currently expected before September. EAAA reported inline results, with fee-paying AUM at ~$5bn amid strong fund local raising oulook.</li>
</ul>


Edelweiss reported slightly weaker than expected performance in the NBFC and Mutual Funds Business
However, management remains confident of a turnaround in both businesses, citing industry tailwinds, the credit cycle turning in favor of NBFCs, and robust retail inflows supporting MF profitability
We remain focused on the alternatives IPO as a value-unlocking event, currently expected before September. EAAA reported inline results, with fee-paying AUM at ~$5bn amid strong fund local raising oulook.


Citius TransNet Investment Trust (CTIT IN)

Edelweiss: FY26 Earnings and SOTP Updates