IPO The market is going to be bustling again. Actually, 7 companies have got approval from capital market regulator SEBI to launch IPO. The companies that have received approval to launch an IPO include Ecom Express, Smartworks Coworking Space, Truealt Bioenergy, International Gemological Institute, Carraro India, Concord Enviro Systems and Ventiv Hospitality. These seven companies will collectively raise around Rs 12,000 crore through the IPO. SEBI informed about this approval on Monday. According to SEBI information, it gave approval to seven companies to launch IPO during November 26-29. These companies had filed applications before SEBI during August and September this year. in these companies
Which company will raise how much money
According to the draft IPO document, International Gemological Institute (India) Limited will come up with an issue of Rs 4,000 crore. It proposes to use the proceeds 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 offer for sale (OFS) of shares worth Rs 1,315.50 crore by promoters and other shareholders.
Smartworks coworking space will sell 67 lakh shares
The initial share sale of Ventiv Hospitality, the joint venture between Blackstone Group and Panchsheel Realty, is a fresh issue of entirely equity shares with no offer for sale (OFS) component. The company will use Rs 1,600 crore raised from the IPO to repay its debt. The proposed IPO of Smartworks coworking space is a combination of fresh issue of equity shares worth Rs 550 crore and OFS of 67.59 lakh shares by promoters.
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