SEBI approves Intellius Recode ₹117cr IPO and Nityas Gems IPO
Business
SEBI just gave the green light for two new IPOs: tech firm Intellius Recode and jewelry company Nityas Gems.
Intellius Recode is looking to raise ₹117 crore plus sell some existing shares, while Nityas Gems will offer over 1.44 crore fresh shares (final amount in rupees still to be announced).
Intellius funds AI, Nityas Gems operations
Intellius Recode plans to use its IPO funds to boost product development and cover business expenses: think more AI tools that automate work for other companies.
Nityas Gems, which makes lab-grown diamond gold jewelry for brands like GIVA and Palmonas, wants the cash to help with daily operations.