Trualt, Ecom Express among 7 IPOs approved by Sebi

Capital markets regulator Sebi has given the green light to IPOs of seven companies including Ecom Express, Smartworks Coworking Spaces, Trualt, International Gemological Institute, Carraro India, Concord Enviro System and Ventive Hospitality

Warburg Pincus-backed logistics firm Ecom Express is looking to enter the primary market with a Rs 2,600-crore IPO, which will be a mix of fresh equity sale and an offer for sale (OFS).

Ecom Express will become the second new-age logistics firm focused on online deliveries to be listed on the Indian public bourses, after Delhivery which listed in May 2022.


Meanwhile, Concord Enviro Systems, a leading water and wastewater treatment solutions provider backed by Mauritius-based AF Holdings, is planning an IPO, which includes a fresh equity sale worth Rs 192.3 crore and an OFS of 51.94 lakh shares.

Concord Enviro Systems specializes in wastewater treatment and zero liquid discharge (ZLD) solutions. In fiscal 2024, the company serviced over 353 domestic and 24 international clients across various industries, including pharmaceuticals, chemicals, food and beverage, defence and energy, automotive, steel, and textiles.
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Ventive Hospitality, a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments, also received the regulator's nod for Rs 2,000 crore IPO.

The company believes that they are well-positioned to benefit from growing hospitality demand in conjunction with relatively low new supply in the key markets.

Pune-based Component maker Carraro India, a manufacturer of transmission systems for tractors and off-highway vehicles, and agricultural and construction equipment, will soon come up with its Rs 1812 crore IPO after the Sebi approval.

The company started its operations using IP rights licensed from other entities within the Carraro Group and specializes in complex engineering products and solutions for original equipment manufacturer (OEM) customers. It serves as an independent tier 1 provider, concentrating on axles and transmission systems for agricultural tractors and construction vehicles.

The IPO of Smartworks Coworking Spaces, which also secured the regulatory nod, is a combination of a fresh issue of equity shares worth Rs 550 crore and an OFS of 67.59 lakh shares.

The city-based company may consider raising Rs 110 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size.

Bengaluru-based TruAlt Bioenergy, one of India's leading biofuel producers, has plans to launch its IPO soon, which is a mix of fresh equity issue of Rs 750 crore and an OFS of up to 36 lakhs shares.

TruAlt Bioenergy focuses on ethanol production, with current operations yielding 1,400 KLPD. The company plans to boost its production capacity by an additional 600 KLPD across three locations, aiming for a total of 2,000 KLPD by October 2024.

Diamond certification company International Gemological Institute (IGI), which is backed by US fund Blackstone, is planning to raise Rs 4,000 crore through its IPO.

Blackstone acquired IGI from Shanghai Yuyuan Tourist Mart (Group) - a subsidiary of Fosun, and Roland Lorie - who belongs to the founding family, for $570 million in May last year.