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 (DRHP).
IPO alert: Arohan Financial Services, Dodla Dairy get Sebi s go ahead for IPO
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Arohan Financial Services, Dodla Dairy get Sebi s go ahead for IPO
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Dodla Dairy: IFC picks up 4 55% for over 100 crore in Dodla Dairy
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Dodla Dairy files IPO papers with Sebi again, aims to raise around Rs 800 crore Sunil Matkar © Swati Verma Dodla Dairy files IPO papers with Sebi again, aims to raise around Rs 800 crore
South-based dairy company Dodla Dairy has filed draft red herring prospectus with the capital market regulator Sebi, for its initial public offering. A source close to the developments said the issue size could be around Rs 800 crore.
The public issue comprises a fresh issue of up to Rs 50 crore by the company and an offer for sale of up to 1,00,85,444 equity shares by promoters and an investor, said the company in its DRHP filed on February 15.