 "IPO")
Sebi returns IPO papers of Gretex Broking
Capital markets regulator Securities and Exchange Board of India (Sebi) has returned the draft initial public offering (IPO) papers of Gretex Share Broking, a move that might delay the company’s initial share sale. The proposed IPO is a combination of a fresh issue of 16.7 million equity shares and an offer-for-sale (OFS) component of 3.096 million shares by selling shareholders.
Proceeds from the fresh issue would be used towards working capital requirements and for general corporate purposes. The company filed its Draft Red Herring Prospectus (DRHP) with the Sebi in December 2023. According to an update on Sebi’s website on Tuesday, the markets regulator returned the company’s DRHP on January 25 without giving reasons for the same.
Proceeds from the fresh issue would be used towards working capital requirements and for general corporate purposes. The company filed its Draft Red Herring Prospectus (DRHP) with the Sebi in December 2023. According to an update on Sebi’s website on Tuesday, the markets regulator returned the company’s DRHP on January 25 without giving reasons for the same.
Gretex Share Broking is engaged in the business of market making and stock broking, underwriting capital markets issuances and depository participants of NSDL.
Pantomath Capital Advisors is the sole book-running lead manager to the issue.
Earlier this month, the markets watchdog returned the IPO papers of Stallion India Fluorochemicals.
Day 1: BLS E-Services IPO subscribed 16x
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Shares of Epack Durable, a home appliance maker, dropped nearly 10 per cent during their trading market debut on Tuesday. Its stock ended at Rs 208, down Rs 22, or 9.6 per cent, over its issue price of Rs 230. At the last close, the firm was valued at Rs 2,000 crore. Epac’s Rs 640-crore IPO had garnered nearly
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