PN Gadgil, KPR Agrochem and Ircon get Sebi's go-ahead to float IPOs
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Three companies -- IRCON, PN Gadgil & Sons and KPR Agrochem -- have received markets regulator Sebi's go ahead to float initial public offerings. With this, the total number of companies getting markets regulator's Sebi clearance for IPO has reached to 34.PN Gadgil, KPR Agrochem and Ircon get Sebi's go-ahead to float IPOs
Three companies -- IRCON, PN Gadgil & Sons and KPR Agrochem -- have received markets regulator Sebi's go ahead to float initial public offerings. With this, the total number of companies getting markets regulator's Sebi clearance for IPO has reached to 34. Rail PSU IRCON and KPR Agrochem had filed their respective preliminary papers with Sebi in March seeking its approval to launch initial share-sales, while Pune-based retail jewellery chain PN Gadgil & Sons approached the capital markets watchdog with IPO papers in May. KPR Agrochem, IRCON and PN Gadgil & Sons have received Sebi's «observations» on July 10, July 12 and July 13, respectively, which is necessary for any company to launch public issue, as per the latest update available with the regulator. Through IRCON's initial public offer (IPO), the government will divest 10 per cent stake or over 99 lakh shares. The share sale is expected to fetch about Rs 500 crore to the exchequer. Going by the draft papers, the IPO . Read more