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Ecom Express and Smartworks receive SEBI nod for IPO Two companies in India have recently received approval to launch their IPOs. These companies are Ecom Express and Smartworks. Both companies received approval from the Securities and Exchange Board of India (SEBI). THE JOURNEYS Ecom Express is a trusted logistics solutions provider. It provides Shipping, fulfillment and digital services like document verification. The company has been in the field since 2012. Smartworks is a flexible office space service provider. These office spaces reflect how Indian startup ecosystem is working. Now, these companies have received a nod from SEBI for IPO. Ecom Express is planning an IPO worth INR 2,600 crore. Now, this will be the second try of Ecom express to go public. Earlier, Ecom Express paused an IPO plan worth INR 4,860 crore in 2022. The IPO will include an issue of equity shares worth INR 1,284.5 crore. There will also be an offer for sale (OFS) worth INR 1,315.5 crore. As part of the OFS, Partners Group will sell shares worth up to INR 931 crore. Warburg Pincus will sell shares worth INR 211 crore. Ecom Express is not the only logistics company going public. Two other companies like Delhivery and Blackbuck are already listed on stock exchange.One more ecom startup, Shadowfax is also preparing for an IPO. In the last fiscal year, Ecom Express reported a net loss of INR 255.8 crore. Smartworks is planning to raise INR 550 crore with its IPO. The IPO will include a fresh issue of shares worth this amount. There will also be an OFS of up to 67.49 lakh equity shares by Smartworks promoters. This will make Smartworks the second coworking firm to be listed on the Indian stock exchanges. Awfis was the first. Other coworking firms, such as WeWork India, are preparing to launch IPOs as well. These include Simpliwork, Table Space firm, DevX, and Indiqube. Smartworks has 41 centers in 13 cities across India. They have a portfolio of 8 million square feet. Ecom Express and Smartworks have received SEBI nod for IPO. There are also other providers in the same genre. Let us see what exciting thing happens. Thanks
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