IPO Surge: Seven Companies Set to Raise Rs 12,000 Crore

Seven companies, including International Gemmological Institute and Ecom Express, have received approval from Sebi to raise nearly Rs 12,000 crore through IPOs. These companies aim to utilize funds for various purposes such as debt payment, technology enhancement, and business expansion across sectors like diamonds and bioenergy.

In a significant development for the Indian market, seven companies have received the Securities and Exchange Board of India's (Sebi) nod to raise nearly Rs 12,000 crore collectively through Initial Public Offerings (IPOs). This financial move is expected to stir multiple sectors.

The companies, including International Gemmological Institute (IGI), plan to use the funds for strategic acquisitions and corporate purposes. IGI, a key player in diamond certification, aims to expand globally.

Other companies such as TruAlt Bioenergy and Ecom Express are setting their sights on enhancing production capabilities and technological infrastructure, marking a notable step towards growth and innovation in their respective sectors.

(With inputs from agencies.)