Core Viewpoint - Torrent Gas Ltd. is planning an initial public offering (IPO) that may raise up to $450 million, with a potential valuation of around $3 billion, amid a busy IPO environment in India driven by energy and infrastructure sectors [2][5][9]. Company Overview - Torrent Gas reported a revenue of 40.27 billion rupees ($449 million) for the fiscal year ending March 2025, an increase from 28.75 billion rupees the previous year [6][9]. - The company is authorized to develop city gas distribution networks and supply compressed natural gas for vehicles, as well as piped natural gas to industrial, commercial, and residential customers [6][9]. - Torrent Gas holds licenses in seven Indian states and one union territory, operating in 34 districts [6][9]. IPO Details - The IPO is being managed by Axis Bank, Kotak Mahindra Capital, and Citigroup's local unit, with ongoing discussions about deal size and valuation [9]. - Proceeds from the offering are expected to be used for capital expenditure and debt reduction [9]. - The planned offering will test investor appetite for city-gas distributors as companies expand operations to align with the government's push for cleaner fuels [2][9].

Core Viewpoint - Superior Plus Corp. experienced a significant decline in stock price, dropping 21.1% after CIBC lowered its price target from C$9.00 to C$8.50, with trading volume increasing by 655% compared to the average [2][3] Group 1: Stock Performance - The stock traded as low as C$6.06 and last traded at C$6.29, having previously closed at C$7.97 [2] - Other analysts have varied opinions on the stock, with Desjardins reducing their target from C$10.50 to C$9.75 while BMO Capital Markets raised theirs from C$8.00 to C$10.00 [3] - The average target price among analysts is C$9.41, with five analysts rating it as a "Buy" and two as "Hold" [3] Group 2: Financial Metrics - Superior Plus has a debt-to-equity ratio of 193.35, a quick ratio of 0.46, and a current ratio of 0.67 [4][5] - The company has a market capitalization of C$1.40 billion, a P/E ratio of 29.95, and a beta of 0.18 [4][5] Group 3: Earnings and Dividends - The company reported earnings of C($0.47) per share for the last quarter, with revenue of C$470.64 million and a net margin of 1.80% [6] - A quarterly dividend of $0.045 per share was declared, representing an annualized dividend of $0.18 and a yield of 2.9% [7] Group 4: Company Overview - Superior Plus is a leading North American distributor of propane, compressed natural gas, and renewable energy, servicing approximately 770,000 customer locations in the U.S. and Canada [8]