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

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

Equity Capital Markets

Karamtara Engineering Ltd / Equity Capital Markets

<ul>
<li>KEL is the largest supplier of integrated solar mounting structures in terms of capacity. It has also diverisified into ancillary products related to transmission towers and wind energy.</li>
<li>With a strong presence in India and the US, KEL now looks to expand aggressively in Europe  (Italy) and the middle east through its upcoming unit in KSA</li>
<li>Its 875cr IPO opens today, seeking a valuation of 8,300cr. The company is structurally positioned to deliver ~15/20% revenue/earnings growth, with optionality around Battery and other products in the pipeline</li>
</ul>


KEL is the largest supplier of integrated solar mounting structures in terms of capacity. It has also diverisified into ancillary products related to transmission towers and wind energy.
With a strong presence in India and the US, KEL now looks to expand aggressively in Europe  (Italy) and the middle east through its upcoming unit in KSA
Its 875cr IPO opens today, seeking a valuation of 8,300cr. The company is structurally positioned to deliver ~15/20% revenue/earnings growth, with optionality around Battery and other products in the pipeline


Karamtara Engineering: Unique and Defensive Play on Global Renewable Capacity Growth