APAC IPOs & Placements, Aequitas Research

Kajal Jain

APAC IPOs & Placements

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

Shanghai Seer Intelligent Technology / Equity Capital Markets

Shanghai Seer Intelligent Technology (SSIT HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-seer-intelligent-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:50161:1" rel="noopener">Shanghai Seer Intelligent Technology (SSIT HK)</a>  (SSITL) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and CMBI.</li>
<li>SSITL is a robotics company based on robotic control systems, offering controllers, software and robots.</li>
<li>According to CIC, it was ranked first globally in terms of robotic controller sales volume in 2025, with a market share of 24.8%.</li>
</ul>



Shanghai Seer Intelligent Technology (SSIT HK)  (SSITL) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and CMBI.
SSITL is a robotics company based on robotic control systems, offering controllers, software and robots.
According to CIC, it was ranked first globally in terms of robotic controller sales volume in 2025, with a market share of 24.8%.


Aequitas:Shanghai Seer Intelligent Technology Pre-IPO Tearsheet

Jiangsu BBL Home Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-bbl-home-technology-company-limited" target="_blank" data-smartkarma-citation="entities:50170:1" rel="noopener">Jiangsu BBL Home Technology (BBL HK)</a> (Jiangsu) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by DBS and CICC.</li>
<li>Jiangsu is a leading flooring products provider in China, as well as a global market leader, as per the company.</li>
<li>According to Frost &amp; Sullivan, it was ranked first among Chinese PVC flooring providers in terms of sales volume of PVC flooring products in North America in 2025. </li>
</ul>



Jiangsu BBL Home Technology (BBL HK) (Jiangsu) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by DBS and CICC.
Jiangsu is a leading flooring products provider in China, as well as a global market leader, as per the company.
According to Frost &amp; Sullivan, it was ranked first among Chinese PVC flooring providers in terms of sales volume of PVC flooring products in North America in 2025. 


Aequitas:Jiangsu BBL Home Technology Pre-IPO Tearsheet

Arohan Financial Services Ltd / Equity Capital Markets

Arohan Financial Services Ltd (1008738D IN)

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<li>
<a href="https://www.smartkarma.com/entities/arohan-financial-services-ltd" target="_blank" data-smartkarma-citation="entities:50149:1" rel="noopener">Arohan Financial Services Ltd (1008738D IN)</a>  (AFSL) plans to raise around US$156m in its upcoming India IPO. The deal will be run by Motilal Oswal, SBI Capital and DAM Capital.</li>
<li>AFSL is a tech-enabled NBFC-MFI providing income-generating loans and financial products to underserved rural and semi-urban customers across India with limited or no access to formal financial services.</li>
<li>As per CARE report, it is the second largest NBFC-MFI in Eastern India (based on the presence of corporate office) in terms of AUM as 9M25.</li>
</ul>



Arohan Financial Services Ltd (1008738D IN)  (AFSL) plans to raise around US$156m in its upcoming India IPO. The deal will be run by Motilal Oswal, SBI Capital and DAM Capital.
AFSL is a tech-enabled NBFC-MFI providing income-generating loans and financial products to underserved rural and semi-urban customers across India with limited or no access to formal financial services.
As per CARE report, it is the second largest NBFC-MFI in Eastern India (based on the presence of corporate office) in terms of AUM as 9M25.


Aequitas: Arohan Financial Services Limited Pre-IPO Tearsheet

Guangdong Jinsheng New Energy Co / Equity Capital Markets

Guangdong Jinsheng New Energy Co (2633382D HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangdong-jinsheng-new-energy-co" target="_blank" data-smartkarma-citation="entities:50148:1" rel="noopener">Guangdong Jinsheng New Energy Co (2633382D HK)</a> (GJ) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and CMBI.</li>
<li>Guangdong Jinsheng is a lithium-ion battery recycling and reutilization company.</li>
<li>According to the F&amp;S Report, GJ was the world’s second-largest lithium-ion battery recycling and reutilization company by FY25 recycled product revenue and the largest independent third-party recycling enterprise globally.</li>
</ul>



Guangdong Jinsheng New Energy Co (2633382D HK) (GJ) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and CMBI.
Guangdong Jinsheng is a lithium-ion battery recycling and reutilization company.
According to the F&amp;S Report, GJ was the world’s second-largest lithium-ion battery recycling and reutilization company by FY25 recycled product revenue and the largest independent third-party recycling enterprise globally.


Aequitas: Guangdong Jinsheng New Energy Co Pre-IPO Tearsheet

Online Instruments Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/online-instruments-limited" target="_blank" data-smartkarma-citation="entities:50143:1" rel="noopener">Online Instruments Limited (1303271D IN)</a> (OIL) plans to raise around US$100m in its upcoming India IPO. The deal will be run by Equirus and Motilal Oswal.</li>
<li>OIL provides audiovisual systems integration (AVSI) solutions. AVSI solutions are offered under Online Instruments and Level 3 Audiovisual brands.</li>
<li>In addition, it manufactures interactive flat panel displays (IFPDs), provide light-emitting diode (LED) display products and offer audiovisual accessories under its LOGIC brand.</li>
</ul>



Online Instruments Limited (1303271D IN) (OIL) plans to raise around US$100m in its upcoming India IPO. The deal will be run by Equirus and Motilal Oswal.
OIL provides audiovisual systems integration (AVSI) solutions. AVSI solutions are offered under Online Instruments and Level 3 Audiovisual brands.
In addition, it manufactures interactive flat panel displays (IFPDs), provide light-emitting diode (LED) display products and offer audiovisual accessories under its LOGIC brand.


Aequitas: Online Instruments Limited Pre-IPO Tearsheet

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%.

Kajal Jain
APAC IPOs & Placements
• Aequitas Research

Aequitas:Shanghai Seer Intelligent Technology Pre-IPO Tearsheet

Shanghai Seer Intelligent Technology Co. Ltd. (SSITL) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and...

Kajal Jain

Aequitas:Jiangsu BBL Home Technology Pre-IPO Tearsheet

Jiangsu BBL Home Technology Co. Ltd. (Jiangsu) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by DBS and CICC.

Kajal Jain

Aequitas: Arohan Financial Services Limited Pre-IPO Tearsheet

Arohan Financial Services Ltd (AFSL) plans to raise around US$156m in its upcoming India IPO. The deal will be run by Motilal Oswal, SBI Capital...

Kajal Jain

Aequitas: Guangdong Jinsheng New Energy Co Pre-IPO Tearsheet

Guangdong Jinsheng New Energy Co (GJ) plans to raise around US$100m in its upcoming Hong Kong IPO. The deal will be run by CICC and CMBI.

Kajal Jain

Aequitas: Online Instruments Limited Pre-IPO Tearsheet

Online Instruments Limited (OIL) plans to raise around US$100m in its upcoming India IPO. The deal will be run by Equirus and Motilal Oswal.

Kajal Jain