7 Upcoming IPOs Set to Raise ₹12,000 Crore from the Stock Market
There is good news for investors who invest in IPO. SEBI has given approval to 7 companies to bring IPO.
Ankush Pandey
The IPO market is going to be bustling again. In fact, 7 companies have got approval from the capital market regulator SEBI to bring IPO. The companies which have got approval to bring IPO include Ecom Express, Smartworks Coworking Space, Truault Bioenergy, International Gemological Institute, Carraro India, Concord Enviro Systems and Ventive Hospitality.
These seven companies will collectively raise around Rs 12,000 crore through IPO. SEBI informed about giving this approval on Monday. According to SEBI's information, it has given approval to seven companies to bring IPO during 26-29 November. These companies had filed applications before SEBI during August and September this year. These companies include
Which company will raise how much money
According to the draft document related to the IPO, International Gemological Institute (India) Limited will bring an issue of Rs 4,000 crore. It proposes to use this amount for the acquisition of IGI Belgium Group and IGI Netherlands Group and for general corporate purposes. The proposed IPO of Gurugram-based Ecom Express is a mix of fresh issue of equity shares worth Rs 1,284.50 crore and an offer for sale (OFS) of shares worth Rs 1,315.50 crore by promoters and other shareholders.
Smartworks coworking space to sell 67 lakh shares
The initial share sale of Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, is entirely a fresh issue of equity shares with no offer for sale (OFS) component. The company will use the Rs 1,600 crore proceeds from the IPO to repay debt. The proposed IPO of Smartworks Coworking Spaces is a combination of a fresh issue of equity shares worth Rs 550 crore and an OFS of 67.59 lakh shares by the promoters.
