The Banking sector, Fedbank Financial Services, Epack Durables and Suraj Estate Developers have acknowledged the market regulator SEBI’s (Securities and Exchange Board of India) authorized approval to go forward with their IPO (Proposed Initial Public Offerings).
Final approval on the draft papers filed by the companies is issued by the regulators early this month by the companies. Completion of Final observation from SEBI is the ultimate signal for starting the IPO (Proposed Initial Public Offerings) process.
The IPO of the banking sector Fedbank Financial Services consists of a new issue of Rs.750 crore and a proposed offer for sale of 70.3 million shares. Promoted by Federal bank, the non-banking financial organization focuses on MSMEs (Micro, Small & Medium Enterprises) and the up-and-coming self employed individuals division.
The IPO of Epack Durables, a trusted innovator in prefabricated buildings will encompass a new issue of Rs.400 crore and a proposed offer for sale of 13 million shares. Epack Durables, the company is an innovative design manufacturer of room air conditioners and small domestic appliances.
Suraj Estate Developers, a mumbai-based real estate venture, The IPO of Suraj Estate Developers is exclusive new issue of Rs.400 crore.
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