Sebi nod to seven public offers paves way for over Rs 12K crore fundraise

The Securities and Exchange Board of India (Sebi) has approved seven new initial public offers (IPOs), including Ecom Express, International Gemological Institute of India, and Ventive Hospitality. The approvals potentially pave the way for over Rs 12,000 crore in capital raising from the public market over the next few months.

 

All seven issues, which received the nod last week, are a combination of fresh issue and offer for sale (OFS). Other IPOs approved include Carraro India, Smartworks Coworking Spaces, Trualt Bioenergy, and Concord Enviro System.

 

Blackstone-owned International Gemological Institute’s issue will offer a fresh issue of shares worth up to Rs 1,250 crore and an OFS of Rs 2,750 crore. Ventive Hospitality, Blackstone Group’s joint venture with Panchshil Realty, had filed its papers to raise Rs 2,000 crore. Auto parts manufacturer Carraro had filed its draft documents in August to raise Rs 1,800 crore, while Ecom Express’ Rs 2,600 crore IPO consists of a Rs 1,284.50 crore fresh issue and an OFS worth Rs 1,315.50 crore.    Suraksha Diagnostic subscribed 25% on Day 2 

The initial public offering (IPO) of Suraksha Diagnostic got subscribed 25 per cent on the day two of share sale on Monday. The initial share sale got bids for 34,00,068 shares against 1,34,32,533 shares on offer, according to NSE. The retail individual investors part fetched 45 per cent subsc­ription while the quota for non-instit­utional investors got subscribed 13 per cent. The ~846-crore initial share sale will conclude on December 3. The shares are available in the price range of ~420-441 apiece. The IPO consists of an offer for sale of 19,189,330 equity shares, at the upper end of the price band, by promoters and investor share­holders, with no fresh issue component.  (With inputs from PTI)