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

<ul><li>In a dramatic turn of events in June 2025, GMS Inc., a major distributor of construction materials like wallboard, ceilings, and steel framing, has emerged as the center of a high-stakes takeover battle.</li><li>First, QXO Inc., led by serial acquirer Brad Jacobs, made an unsolicited all-cash bid of $95.20 per share, valuing GMS at $5 billion.</li><li>Just days later, reports surfaced that Home Depot, the $345 billion retail giant, also submitted its own private bid, though without disclosing a price.</li></ul>

In a dramatic turn of events in June 2025, GMS Inc., a major distributor of construction materials like wallboard, ceilings, and steel framing, has emerged as the center of a high-stakes takeover battle.First, QXO Inc., led by serial acquirer Brad Jacobs, made an unsolicited all-cash bid of $95.20 per share, valuing GMS at $5 billion.Just days later, reports surfaced that Home Depot, the $345 billion retail giant, also submitted its own private bid, though without disclosing a price.

GMS는 Home Depot와 QXO 사이에서 50억 달러 규모의 경쟁 구도가 되었습니다. 그 이유는 다음과 같습니다!