Muthoot Microfin, Flair Writing, Happy Forgings get IPO approval
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Muthoot Microfin, Flair Writing Industries and Happy Forgings have received capital markets regulator SEBI’s nod to launch initial public offerings (IPOs). These three companies had filed IPO-related papers with Sebi during July and August and received observation letters from the regulator between October 23-27.
The market regulator gave this information on Monday. Receiving the observation letter from SEBI means that these companies can now move towards launching an IPO. It is proposed to list the shares of these companies on NSE and BSE.
According to the IPO proposal, Muthoot Microfin’s issue will consist of a fresh offer of up to Rs 950 crore and an offer for sale (OFS) of up to Rs 400 crore. Pen maker Flair Writing Industries Ltd’s issue size is Rs 745 crore, comprising a fresh offer of Rs 365 crore and a sale offer of Rs 380 crore.
The IPO of auto parts maker Happy Forgings Ltd includes a fresh offering of Rs 500 crore. Apart from this, the promoter and other shareholders will also bring an offer for sale of 80.55 lakh shares.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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