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Apex Frozen Ltd has received capital market regulator Sebi's approval to float an initial public offering. The company had filed draft papers with the Securities and Exchange Board of India (Sebi) in March and got "observations" from the regulator on April 11, which is imperative for any firm to launch public offer, as per the latest update. The initial offer will comprise a fresh issue of 72.5 lakh shares and on offer for sale (OFS) of up to 14.5 lakh by the existing shareholders, according to the draft red herring prospectus (DRHP).
Apex Frozen Ltd has received capital market regulator Sebi's approval to float an initial public offering. The company had filed draft papers with the Securities and Exchange Board of India (Sebi) in March and got "observations" from the regulator on April 11, which is imperative for any firm to launch public offer, as per the latest update. The initial offer will comprise a fresh issue of 72.5 lakh shares and on offer for sale (OFS) of up to 14.5 lakh by the existing shareholders, according to the draft red herring prospectus (DRHP).
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