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Patel Infrastructure, Krishna Institute get Sebi nod for IPOs

The companies had filed their draft papers with Sebi between December and January

Press Trust of India  |  New Delhi 

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Two companies -- Patel Infrastructure and Krishna (KIMS) -- have received regulator Sebi's go ahead to float their initial share-sale offers.

With this, the total number of companies receiving approval for the has reached 11 so far this year.

Gujarat-based Patel Infra and Maharashtra-based obtained 'observations' from Sebi on March 5 and March 7 respectively, as per the latest update with watchdog.

The companies had filed their draft papers with Sebi between December and January.

Sebi's 'observations' is necessary for any company planning to launch pubic issues like rights issue and initial public offer (IPO).

Going by the draft papers, Patel Infra's will see sale of equity shares worth Rs 4 billion.

The will issue fresh shares worth Rs 500 million, besides, an offer of sale for 18,754,037 equity scrips by the existing shareholders including

First Published: Wed, March 14 2018. 21:12 IST
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