APAC IPOs & Placements, Aequitas Research

Akshat Shah

At Aequitas we cover all IPOs and placements across Asia-Pac with a deal size of at least US$100m. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

APAC IPOs & Placements

Aequitas: PhonePe Pre-IPO - The Positives - Dominant Payment Platform

Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped

Aequitas ECM Weekly (16 February 2026)- Montage, Axera, Wuxi Lead, Woer, Top Toy, Anker, PhonePe

PhonePe IPO: Walmart-Backed India Fintech Preps for Listing. A Quick Primer

PhonePe Tearsheet - India's SuperApp Ambition

PhonePe IPO: Limited Float & Index Inclusion Timeline

Groww IPO: Growwing Fast; Index Inclusions Will Be Sloww; Small Floww

Lenskart IPO: Earliest Index Inclusion in June

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/phonepe-pvt-ltd" target="_blank" data-smartkarma-citation="entities:34788:1" rel="noopener">Phonepe Ltd (1732974D IN)</a> is looking to raise up to US$1.35bn in its India IPO, which will be run by Axis, Citi, GS, Jefferies, JPM, JM Fin, Kotak and MS.</li>
<li>PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.</li>
<li>According to Redseer, PPL was India’s largest digital payments platform, with sustained market leadership from Dec'20-Sep'25, in terms of number of transactions and total payments value for customer-initiated UPI transactions.</li>
</ul>



Phonepe Ltd (1732974D IN) is looking to raise up to US$1.35bn in its India IPO, which will be run by Axis, Citi, GS, Jefferies, JPM, JM Fin, Kotak and MS.
PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.
According to Redseer, PPL was India’s largest digital payments platform, with sustained market leadership from Dec'20-Sep'25, in terms of number of transactions and total payments value for customer-initiated UPI transactions.


Aequitas: PhonePe Pre-IPO 切り取りシート

Phonepe Pvt Ltd

Aequitas: PhonePe Pre-IPO 切り取りシート