A huge amount of money, almost closing in on ₹12,000 crore, will be raised from the public market in the upcoming months. The reason? The Securities and Exchange Board of India (SEBI) has given the green light to seven new initial public offerings (IPOs).
The list of companies include:
- Ecom Express
- International Gemological Institute of India
- Ventive Hospitality
- Carraro India
- Smartworks Coworking Spaces
- Trualt Bioenergy
- Concord Enviro System.
Details of the Seven Upcoming IPOs
Ecom Express
Ecom Express Limited is a B2C e-commerce logistics provider backed by Warburg Pincus, operating a pan-India express logistics network covering reverse logistics, fulfillment services, first-mile pickup, mid-mile transportation, and last-mile delivery.
- IPO Structure: ₹1,284.5 crore fresh issue and an OFS of ₹1,315.5 crores.
- Infrastructure Expansion: New processing and fulfillment centers will be made.
- Technology Investments: Funds will be invested into IT infrastructure.
- Debt Repayment: A portion will be used to clear debts.
- Competitive Positioning: With Amazon and Nykaa as key clients, Ecom Express logistics aims to compete with Delhivery and Blue Dart by expanding its capabilities.
Carraro India
Carraro India is a manufacturer of axles and transmission systems for agricultural tractors and construction vehicles.
- IPO Size: The company aims to raise ₹1,811.65 crores through an offer-for-sale (OFS).
- Promoter: The OFS is being conducted by Carraro International S.E.
- Proceeds: Since the IPO consists entirely of an OFS, Carraro India will not receive any proceeds from the offering.
Concord Enviro Systems
Concord Enviro Systems Limited is a water and wastewater treatment solutions provider backed by AF Holdings.
- IPO Structure: Includes a ₹192.3 crore fresh issue and an OFS of 51,94,520 shares.
- Fund Utilization: Supports assembly unit development in the U.A.E., plant and machinery purchases, and debt reduction of Concord Enviro FZE.
- Investments: A portion will go to Rochem Separation Systems (India) Pvt. Ltd. and Roserve Enviro Pvt. Ltd.
- Other Uses: Covers working capital and general corporate expenses.
International Gemological Institute (IGI)
The International Gemological Institute (India) Limited is the largest provider of certification and accreditation for natural diamonds, lab-grown diamonds, studded jewellery, and coloured stones.
- IPO Structure: Aims to raise ₹4,000 crores, including a ₹1,250 crore fresh issue and a ₹2,750 crore OFS.
- Fund Utilization: Proceeds will support the acquisition of IGI Belgium Group and IGI Netherlands Group from its promoter.
- Other Uses: Some funds will be allocated for general corporate purposes.
Smartworks Coworking Spaces
Smartworks Coworking Spaces Limited offers managed campuses and office experiences, transforming large properties into fully furnished, tech-enabled campuses.
- IPO Structure: Will include a ₹550 crore fresh issue and an OFS of 67.59 lakh shares.
- Fund Utilization: ₹282.30 crores will be spent on security deposits and fit-out costs for new centers.
- Debt Repayment: ₹140 crores will be used for this.
- Other Uses: Remaining funds will cover general corporate expenses.
Trualt Bioenergy
Bengaluru-based TruAlt Bioenergy is a leading biofuel producer in India.
- IPO Structure: Includes a ₹750 crore fresh issue and an OFS of 36 lakh shares (₹10 face value each).
- Fund Utilization: ₹172.68 crores for multi-feed stock operations.
- Working Capital: ₹425 crores for working capital and general corporate expenses.
Ventive Hospitality
Ventive Hospitality Limited is a luxury hospitality asset owner. Their properties are managed or franchised by Marriott, Hilton, Minor, and Atmosphere.
- IPO Structure: Plans a ₹2,000 crore fresh issue, with a possible ₹400 crore pre-IPO placement.
- Debt Repayment: ₹1,600 crores for debt. As of March 2024, the debt was ₹412.60 crores.
- Other Uses: Remaining funds will go toward general corporate purposes.
Source by – https://groww.in/blog/sebi-approves-7-upcoming-ipos-including-ecom-express-and-igi
