NEW DELHI: Non-banking financial company Arohan Financial Services and Dodla Dairy, a leading dairy company in South India, have received capital markets regulator Sebi‘s go-ahead to float initial share-sales.
The two companies filed their preliminary papers with Sebi on February 15 and obtained its observations on April 23, an update with Sebi showed on Monday.
Sebi’s observation is very necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO), and rights issue.
Arohan Financial Services plans to raise between Rs 1,750 crore and Rs 1,800 crore, as per market sources.
The public offer of the Aavishkaar Group promoted company comprises a fundraise through a fresh issuance of shares amounting to Rs 850 crore, according to Draft Red Herring Prospectus
News Source: The Economic Times