Seven Firms Gear Up for Rs 12,000 Crore IPO Extravaganza

Seven firms including International Gemmological Institute and Ecom Express received SEBI's approval to collectively raise nearly Rs 12,000 crore through IPOs. The raised funds will support various corporate objectives like expansion and debt reduction, as revealed by the market regulator's updates.

Seven companies, including Blackstone-owned International Gemmological Institute, Ecom Express, and Smartworks Coworking Spaces, have secured SEBI's nod to collectively raise around Rs 12,000 crore via Initial Public Offerings (IPOs), as per a market regulator update on Monday.

These firms, applying for IPO permissions during August and September, received SEBI's observations between November 26-29, granting them the green light for public issues. The term 'obtaining observations' in SEBI's terminology indicates clearance for IPOs.

The IPO checklist includes International Gemmological Institute's Rs 4,000 crore IPO, aimed at acquiring the IGI Belgium and Netherlands groups, and Ecom Express, prioritizing technological enhancements and debt payment among others.

(With inputs from agencies.)