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Equitas Holding, GNA Axles get Sebi nod for IPO

Equitas Holding, GNA Axles get Sebi nod for IPO
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Highlights

Sebi has given approval to microfinance institution Equitas Holding and auto components maker G N A Axles to float initial public offerings. Equitas Holding and G N A Axles had filed their draft red herring prospectus (DRHP) with Sebi in October and September respectively seeking permission to launch IPOs.

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New Delhi: Sebi has given approval to microfinance institution Equitas Holding and auto components maker G N A Axles to float initial public offerings. Equitas Holding and G N A Axles had filed their draft red herring prospectus (DRHP) with Sebi in October and September respectively seeking permission to launch IPOs. They obtained clearance from capital markets regulator on January 8, as per the latest update.

Equitas Holding's IPO comprises fresh issue of shares worth Rs 600 crore and an equal amount by selling shares to existing shareholders, according to sources. The public issue of GNA Axles consists of up to 63 lakh shares with a face value of Rs 10 each. It has reserved 2 lakh shares for its employees. Equitas Holding and G N A Axles are proposed to be listed on both NSE and BSE.

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