Gopal Snacks Ltd, piping solutions provider Dee Development Engineers and construction firm SRM Contractors have received Sebi’s go-ahead to raise funds through initial public offering (IPO).
The three companies, which filed their preliminary IPO papers with the markets regulator between October and November 2023, obtained its observations during February 7-9, an update with the Securities and Exchange Board of India (Sebi) showed on Monday.
In Sebi’s parlance, receiving observations from the regulator means its go-ahead to float the maiden public issue.
According to the draft red herring prospectus (DRHP), Gopal Snacks’ proposed issue is entirely an Offer For Sale (OFS) of equity shares worth Rs 650 crore by promoters and other selling shareholders.
The OFS comprises sale of shares worth up to Rs 100 crore by Bipinbhai Vithalbhai Hadvani, up to Rs 540 crore by Gopal Agriproducts Pvt Ltd and up to Rs 10 crore by Harsh Sureshkumar Shah.
Founded in 1999, Gopal Snacks is a fast-movin
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