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Tata tech among two other firms get Sebi nod
The Business Guardian
|June 28, 2023
Tata Technologies, an arm of Tata Motors, Gandhar Oil Refinery (India) Ltd and non-banking financial company SBFC Finance have received capital market regulator Sebi’s approval to raise funds through initial public offerings.
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The three companies, which filed their preliminary papers with Sebi between December 2022 and March 2023, obtained the regulator’s observations during June 21-23, an update with the markets watchdog showed on Tuesday.
In Sebi’s parlance, obtaining observations mean its go-ahead to float the initial share sale. As per the draft papers, Tata Technologies’ IPO is purely an Offer For Sale (OFS), where the company will sell up to 9.57 crore equity shares representing approximately 23.60 per cent of its paid-up share capital.
Dit verhaal komt uit de June 28, 2023-editie van The Business Guardian.
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