Two new companies have lined up to launch their IPOs. Smartworks, a coworking space provider, and Ecom Express, a logistics firm, have both filed their drafts (DRHP) with the market regulator SEBI.
Smartworks IPO
Smartworks plans to raise ₹550 crore through a fresh issue of shares. The company’s promoters, NS Niketan and SNS Infra Reality, along with Investor Space Solutions India, plan to sell 6,759,480 shares through an offer for sale (OFS). The total size of the IPO is not yet announced. The Gurugram-based company is also considering a pre-IPO placement to raise ₹110 crore. If this placement occurs, the raised amount will be subtracted from the fresh issue.
Ecom Express IPO
Ecom Express, a B2C e-commerce logistics provider, plans to raise up to ₹2,600 crore through its IPO. The IPO will include a fresh issue of shares worth ₹1,284.5 crore and an offer for sale worth ₹1,315.5 crore. The company may also raise ₹256.9 crore through a pre-IPO placement. The lead managers for Ecom Express’s IPO are Axis Capital, IIFL Securities, Kotak Mahindra Capital, and UBS Securities India.
