The Securities and Exchange Board of India (SEBI) has granted approval to seven companies to roll out their Initial Public Offerings (IPOs), collectively targeting around ₹12,000 crore from the public markets. The approved firms include Ecom Express, International Gemological Institute of India (IGI), Ventive Hospitality, Smartworks Coworking Spaces, TruAlt Bioenergy, Carraro India, and Concord Enviro Systems. These IPOs, a combination of fresh issues and offers for sale (OFS), were cleared between November 26 and 29, signifying robust activity in India’s primary market. Click Here to check New and Open IPOs.
Highlights of the Approved IPOs
| Company | Fresh Issue (₹ Cr) | OFS (₹ Cr) | Purpose |
|---|---|---|---|
| International Gemological Institute (IGI) | 1,250 | 2,750 | Acquisition of IGI Belgium & Netherlands operations; general corporate purposes. |
| Ecom Express | 1,284.50 | 1,315.50 | Funding processing centres, automation, IT infrastructure, and partial debt repayment. |
| Ventive Hospitality | 2,000 | Nil | Entire proceeds to repay debt. Operates luxury hospitality assets in India & Maldives. |
| Smartworks Coworking Spaces | 550 | OFS of 67.59 lakh shares | Expansion of managed office spaces. |
| Carraro India | Nil | 1,812 | Entirely OFS; funds to parent company Carraro International S.E. |
| TruAlt Bioenergy | 750 | OFS of 36 lakh shares | Expansion of ethanol production capacity and working capital needs. |
| Concord Enviro Systems | 192.3 | OFS of 51.94 lakh shares | Financing working capital and general corporate purposes. |
In-Depth Overview of Key IPOs
International Gemological Institute (IGI)
- IPO Size: ₹4,000 crore (₹1,250 crore fresh issue + ₹2,750 crore OFS).
- Purpose: Funds to acquire operations in Belgium and the Netherlands, strengthening IGI’s global leadership in diamond certification.
- Focus: Certification of natural and lab-grown diamonds, gemstones, and studded jewellery.
Ecom Express
- IPO Size: ₹2,600 crore (₹1,284.50 crore fresh issue + ₹1,315.50 crore OFS).
- Utilization:
- ₹387.44 crore: Automated processing centres.
- ₹73.71 crore: IT infrastructure.
- ₹239.23 crore: Technology upgrades.
- ₹87.92 crore: Debt repayment.
- Sector: Logistics and e-commerce delivery services.
Ventive Hospitality
- IPO Size: ₹2,000 crore (entirely fresh issue).
- Purpose: Full proceeds allocated to debt repayment.
- Business: Operates luxury hospitality properties in India and Maldives, in partnership with Panchshil Realty.
Smartworks Coworking Spaces
- IPO Size: ₹550 crore (fresh issue) + OFS of 67.59 lakh shares.
- Business: A leading provider of premium managed office spaces and coworking solutions for enterprises.
Carraro India
- IPO Size: ₹1,812 crore (fully OFS).
- Business: Specializes in manufacturing transmission systems and axles; wholly owned by Carraro International S.E.
TruAlt Bioenergy
- IPO Size: ₹750 crore (fresh issue) + OFS of 36 lakh shares.
- Purpose: Expanding ethanol production to 1,400 kilolitres/day, funding working capital, and fostering corporate growth.
- Sector: Renewable energy and biofuels.
Concord Enviro Systems
- IPO Size: ₹192.3 crore (fresh issue) + OFS of 51.94 lakh shares.
- Purpose: Financing working capital and operational expansion.
- Focus: Environmental engineering solutions.
Click Here to check New and Open IPOs.
