7 Upcoming IPOs to Watch: ₹12,000 Crore Fundraising Plans Revealed

The Securities and Exchange Board of India (SEBI) has recently approved seven companies to launch initial public offerings (IPOs), collectively targeting over ₹12,000 crore in capital from the public markets. These companies include Ecom Express, International Gemological Institute of India (IGI), Ventive Hospitality, Carraro India, Smartworks Coworking Spaces, Trualt Bioenergy, and Concord Enviro Systems.

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Blackstone-Backed Firms in the Spotlight

Two of the approved companies, International Gemological Institute of India and Ventive Hospitality, are part of Blackstone Group’s portfolio. IGI plans an IPO comprising a fresh issue of ₹1,250 crore and an offer for sale (OFS) worth ₹2,750 crore. Meanwhile, Ventive Hospitality, co-owned by Blackstone Group and Panchshil Realty, intends to raise ₹2,000 crore.

Insights into the Upcoming IPOs

1. Carraro India

Carraro India IPO, a key producer of axles and transmission systems for agricultural tractors and construction equipment, plans to raise ₹1,811.65 crore solely through an OFS by its promoter, Carraro International S.E. Since this is a pure OFS, the company itself will not benefit directly from the proceeds.

2. Concord Enviro Systems

Specializing in water and wastewater treatment solutions, Concord Enviro Systems Limited, backed by AF Holdings, will offer equity shares worth ₹192.3 crore through a fresh issue and an OFS of 51,94,520 shares by existing stakeholders.

The funds will support multiple initiatives, such as:

• Setting up an assembly unit for water treatment systems in the UAE.
• Investments in Rochem Separation Systems (India) Private Limited and Roserve Enviro Private Limited.
• Purchasing new plant and machinery.
• Reducing debt for its UAE-based subsidiary, Concord Enviro FZE.
• Meeting working capital needs and other corporate purposes.

3. Ecom Express

Ecom Express Limited, a logistics company providing B2C solutions across India, aims to raise funds through a fresh issue of ₹1,284.5 crore and an OFS of ₹1,315.5 crore. Known for services such as reverse logistics, fulfillment solutions, and last-mile delivery, Ecom Express intends to use the fresh issue proceeds to:

• Build new processing and fulfillment centers.
• Invest in IT systems.
• Pay off existing debts. The company’s major clients include Amazon and Nykaa, and it aims to enhance its position against competitors like Delhivery and Blue Dart.

4. International Gemological Institute (IGI)

IGI, a leader in diamond certification and accreditation, is targeting ₹4,000 crore through its IPO, with ₹1,250 crore from a fresh issue and ₹2,750 crore via an OFS. A portion of the proceeds will fund the acquisition of its Belgium and Netherlands groups, while the remainder will be allocated for general corporate purposes.

5. Smartworks Coworking Spaces

Smartworks Coworking Spaces Limited converts large properties into fully furnished, tech-enabled managed campuses. International Gemological Institute IPO includes an OFS of 67.59 lakh shares and a fresh issue worth ₹550 crore.

Key allocations include:

• ₹282.30 crore for security deposits and fitting out new centers.
• ₹140 crore for debt repayment.
• Additional funds for corporate expenses.

6. Trualt Bioenergy

Based in Bengaluru, Trualt Bioenergy, a biofuel manufacturer, plans to raise ₹750 crore via a fresh issue and offer 36 lakh shares through an OFS.

Proceeds from the fresh issue will be utilized for:

• Setting up multi-feedstock operations to incorporate grains in ethanol production (₹172.68 crore).
• Working capital needs (₹425 crore).
• General corporate purposes.

7. Ventive Hospitality

Ventive Hospitality Limited, which owns luxury hospitality assets managed by global brands like Marriott and Hilton, seeks to raise ₹2,000 crore through a fresh equity issue. Out of this, ₹1,600 crore will address outstanding debt, and a potential pre-IPO placement of up to ₹400 crore might reduce the final offer size. The remaining funds will be used for general corporate requirements.

This diverse lineup of IPOs highlights opportunities across sectors, from logistics and bioenergy to luxury hospitality and coworking spaces, promising significant engagement in India's capital markets.