Gretex Share Broking IPO: Sebi returns IPO papers of Gretex Share Broking

by

Capital markets regulator Sebi has returned the draft 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 1.67 crore equity shares and an offer-for-sale (OFS) component of 30.96 lakh 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 Securities and Exchange Board of India (Sebi) in December 2023.

According to an update on Sebi’s website on Tuesday, the market 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.

(What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice, Budget 2024 News on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

Source link

Denial of responsibility! NewsConcerns is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment