Smartworks, Ecom Express file draft papers with Sebi to launch IPOs

Two new age companies- Smartworks Coworking Spaces and Ecom Express- have filed their draft red herring prospectus (DRHP) with the capital markets regulator Securities & Exchange Board of India (Sebi) to raise funds via primary markets. Shares of both the companies shall be listed on BSE and NSE.
 

Both the companies have reserved 75 per cent of their respective net issues for the qualified institutional bidders (QIBs), while non-institutional investors will have 15 per cent of the net offers. Remaining 10 per cent of the net offers shall be allocated towards retail investors for the issue.
 

Warburg Pincus-backed Ecom Express is eyeing to mop up to Rs 2,600 crore via initial stake sale. The issue includes fresh share sale of Rs 1,284.5 crore and offer for sale (OFS) of up to Rs 1,315.5 crore by its promoters and existing shareholders.
 

Gurugram-based B2C e-commerce logistics solutions provider  may consider raising up to Rs 256.9 crore funds via pre-IPO placement, in consultation with the lead managers of the issue. If it completes the pre-IPO placement, the said amount will be reduced from the fresh issue size.
 

Ecom Express is India’s only pure-play B2C e-commerce logistics solutions provider as of the financial year 2024, as per a report from RedSeer. It had the widest coverage pan-India and in Tier 2+ regions compared to its peers and covered over 27,000 PIN codes. with a network of 317 large facilities and 3,421 delivery centers.
 

Axis Capital, IIFL Securities, Kotak Mahindra Capital and UBS Securities India will manage the IPO Ecom Express, while Link Intime India shall be appointed as the registrar for the issue.
 

On the other hand Smartworks Coworking Spaces is looking raise Rs 550 crore via fresh shares sale, while its promoter NS Niketan & SNS Infrarealty, along with the investor Space Solutions India will offload up to 67,59,480 equity shares via offer-for-sale (OFS). The exact size of IPOs is not disclosed.
 

The Gurugram-based largest managed campus operator may also raise Rs 110 crore via pre-IPO placement, in consultation with the lead managers of the issue. If undertaken, the said amount will be reduced from the fresh issue. Smartworks has a presence in 13 cities including Bengaluru, Pune, Hyderabad, Gurugram, Mumbai, Noida and Chennai.
 

JM Financial, BoB Capital Markets, IIFL Securities and Kotak Mahindra Capital are the book running lead managers to the issue, while Link Intime India has been appointed as the registrar for the issue.