 "IPO")
State-owned Garden Reach Shipbuilders and Engineers has received markets regulator Sebi's go ahead to float an initial public offering.
The warship maker had filed its draft red herring prospectus (DRHP) with Sebi on March 26 and obtained its "observations" on May 22, according to the latest update with the markets watchdog.
Sebi's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Going by the draft papers, Garden Reach Shipbuilders' IPO will see government selling 20,046,600 equity share - or a 17.5 per cent stake
The warship maker had filed its draft red herring prospectus (DRHP) with Sebi on March 26 and obtained its "observations" on May 22, according to the latest update with the markets watchdog.
Sebi's observations are necessary for any company to launch public issues like initial public offer (IPO), follow-on public offer (FPO) and rights issue.
Going by the draft papers, Garden Reach Shipbuilders' IPO will see government selling 20,046,600 equity share - or a 17.5 per cent stake
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