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

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<li>Nextpower has moved to deepen its role in utility-scale solar infrastructure through a definitive agreement to acquire complementary assets from Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power.</li>
<li>The transaction would add modular, field-deployed inverter technology, engineering talent, and a planned U.S. manufacturing pathway to a company that already reported a strong FY26, including 20% revenue growth, roughly $3.56 billion in revenue, adjusted EBITDA of $854 million, and record backlog above $5.25 billion.</li>
<li>Management framed the acquisition as an acceleration of its “everything but the panel” strategy, extending Nextpower beyond trackers, foundations, eBOS, steel frames, software, and services into power conversion.</li>
</ul>


Nextpower has moved to deepen its role in utility-scale solar infrastructure through a definitive agreement to acquire complementary assets from Zigor Corporation’s power conversion business and its U.S.-based subsidiary, Apex Power.
The transaction would add modular, field-deployed inverter technology, engineering talent, and a planned U.S. manufacturing pathway to a company that already reported a strong FY26, including 20% revenue growth, roughly $3.56 billion in revenue, adjusted EBITDA of $854 million, and record backlog above $5.25 billion.
Management framed the acquisition as an acceleration of its “everything but the panel” strategy, extending Nextpower beyond trackers, foundations, eBOS, steel frames, software, and services into power conversion.


Nextpower's Zigor Acquisition Could Supercharge Its Solar Ambitions!