City-based jewellery exporter Tara Jewels has received approval from market regulator the Securities and Exchange of India (Sebi) to launch its initial public offer (IPO), a top company official said today.
Tara Jewels had filed the draft red herring prospectus (DRHP) following which Sebi gave the approval. The company expects to raise up to Rs 200 crore through share sale, Rajiv Sheth, chairman and managing director of Tara Jewels, told reporters after inaugurating the company's showroom here.
Tara is a jewel export company with a turnover of Rs 1,000 crore. The company has 30 outlets in India and will soon open 20 more in various parts of the country, he said.
