IPOs Loom for IndiQube, GSP Crop Science, and Ganesh Consumer Products

IndiQube, GSP Crop Science, and Ganesh Consumer Products have received approval from SEBI to raise Rs 1,260 crore collectively through IPOs. While conducting IPOs to manage debt and enhance capital expenditure, some firms withdrew due to market volatility.

Managed workplace solutions firm IndiQube, GSP Crop Science, and Ganesh Consumer Products have received the market regulator SEBI's nod to float initial public offerings, according to a recent update.

The three companies aim to gather a total of Rs 1,260 crore collectively through their IPOs, as they seek to lower debt and fund capital expenditures. However, volatile market conditions have led other companies to reconsider their IPO plans.

IndiQube's IPO includes a Rs 750 crore fresh issue and an Rs 100 crore Offer for Sale, while GSP Crop Science plans to use Rs 280 crore from fresh issues for debts, and Ganesh Consumer Products will allocate Rs 50 crore from its fresh issue to establish a new manufacturing unit.

(With inputs from agencies.)