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New Delhi: <keyword id="22803368" type="General" weightage="100" keywordseo="Smartworks-Coworking-Spaces" source="keywords">Smartworks Coworking Spaces</keyword> Ltd has filed preliminary papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="345" meta.entityid="Sebi">Sebi</keyword> to raise funds through an <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The proposed initial share sale is a combination of a <keyword id="20953853" type="General" weightage="20" keywordseo="fresh-issue" source="keywords">fresh issue</keyword> of equity shares worth Rs 550 crore and an Offer For Sale (OFS) of 67.59 lakh shares by promoters, according to the <keyword id="20076796" type="General" weightage="20" keywordseo="Draft-Red-Herring-Prospectus" source="keywords">Draft Red Herring Prospectus</keyword> (DRHP). The city-based company may consider raising Rs 110 crore through a <keyword id="22244028" type="General" weightage="20" keywordseo="pre-IPO-placement" source="keywords">pre-IPO placement</keyword>. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Proceeds from the fresh issue to the tune of Rs 282.30 crore will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs 140 crore will be allocated for payment of loans and the remaining funds will be utilized for general corporate purposes. Smartworks Coworking Spaces Ltd is a leading platform for office experiences and managed campuses. It specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern amenities. These campuses include cafeterias, sports zones, gyms, crA"ches, medical centres, and more, offering a modern and attractive work environment. The company cater to businesses of all sizes, with a focus on mid-to-large companies that need over 300 seats. The company is concentrated in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and Chennai. India's commercial office space was about 841.2 million square feet as of March 31, 2024, and is expected to grow at an annual rate of 6.71 per cent to 1,079.3 million square feet by the end of 2027, as per the draft papers. Flexible workspaces have become a key part of modern work culture, supporting different working styles and adding flexibility to the office market. JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd and Kotak Mahindra Capital Company Ltd are responsible for managing the company's IPO process.

Smartworks Coworking Spaces files IPO papers with Sebi; eyes Rs 550 crore via fresh issue

New Delhi: <keyword id="19904868" type="General" weightage="100" keywordseo="Ecom-Express" source="keywords">Ecom Express</keyword> Ltd has filed draft papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> to garner Rs 2,600 crore through an initial share-sale. The company's <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) comprises a fresh issue of equity shares worth Rs 1,284.50 crore and an Offer for Sale (OFS) of shares valued Rs 1,315.50 crore by promoters and other shareholders, according to the draft red herring prospectus (DRHP). Proceeds from the fresh capital to the tune of Rs 387.44 crore will be used for setting up new processing centres with automation and new fulfilment centres, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for payment of debt. Also, the remaining funds will be used for general corporate purposes and potential acquisitions, according to the draft papers filed on Wednesday. The company may consider raising Rs 257 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Ecom Express operates a pan-India express logistics network that handles first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing services. By offering essential logistics infrastructure and using technology, the company connect digital retailers and <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> platforms with consumers across the country. According to RedSeer report, the <keyword id="22803827" type="General" weightage="20" keywordseo="Indian-e-commerce-market" source="keywords">Indian e-commerce market</keyword> is projected to grow significantly, with a compound annual growth rate (CAGR) of 21 per cent over the next five years. It is expected to increase from Rs 5.1 lakh crore in 2024 to Rs 12.5-13.5 lakh crore by 2029. Growth is notably strong in Tier 2+ regions, which are expected to account for 70-80 per cent of B2C e-commerce shipments by 2029, up from 62 per cent in 2024, the report added. Axis Capital Ltd, IIFL Securities Ltd, Kotak Mahindra Capital Company Ltd and UBS Securities India Private Ltd are the book running lead managers to the company's public issue.

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

<ul><li>Bhavish Aggarwal-led <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> has received approval from SEBI for its <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>.</li><li>The EV maker has received approval for an IPO to raise ₹5,500 crore.</li><li>The company filed the <keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword> with SEBI in December 2023.</li></ul> Indian electric two-wheeler maker Ola Electric has received approval from the Securities Exchange Board of India (SEBI) for its <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The Bengaluru-based EV maker <a href="https://www.businessinsider.in/stock-market/news/ola-electric-aims-to-raise-nearly-rs-5800-cr-via-ipo-to-file-drhp/articleshow/105907892.cms">filed</a> the Draft Red Herring Prospectus (DRHP) in December 2023. The Bhavish Aggarwal-led company is looking to raise ₹5,500 crore through a fresh issue of shares. Additionally, the IPO also includes an offer for sale (OFS) component of 9.52 crore shares. The company has also kept an option to raise ₹1,100 crore via pre-IPO placement. As part of OFS, Aggarwal will offload 4.7 crore equity shares, which is around half of the OFS component. Apart from this, companies such as Indus Trust, Kaha Wave Ventures, MacRitchie Investments, Alpine Opportunity Fund, Matrix Partners India Investments, and others will divest some shares. According to the draft papers, out of the funds raised, ₹1,226.4 crore will be used for capital expenditure and ₹800 crore will be used to repay debt. The company will spend around ₹1,6000 crore on research and development and ₹350 crore on growth initiatives. Ola Electric has emerged as the leading electric two-wheeler maker in the country and has been leading the market for a long time now. The company occupies around half of the market share. The company is in the process of building an EV hub in the Krishnagiri and Dharmapuri districts in Tamil Nadu. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-nearly-3-5-million-subscribers-in-april-2024/articleshow/111129665.cms">Reliance Jio and Airtel add nearly 3.5 million subscribers in April 2024</a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a>

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Smartworks Coworking Spaces files IPO papers with Sebi; eyes Rs 550 crore via fresh issue

PTI

Ecom Express files papers with Sebi for Rs 2,600-crore IPO

PTI

Ola Electric gets SEBI approval for ₹5,500 crore IPO

Sourabh Jain

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