Markets regulator SEBI has given its go ahead to furniture and appliance rental startup Rentomojo’s initial public offering. As per SEBI data, the regulator issued its final observation letter to the startup today (July 6).
In SEBI’s parlance, the issuance of the final observation is a go-ahead to proceed with the IPO.
The approval comes over three months after Rentomojo filed its draft IPO papers. As per the DRHP, the proposed IPO will comprise a fresh issue of shares worth up to ₹150 Cr and an offer for sale (OFS) of up to 2.84 Cr shares by existing shareholders.
Investors including Accel, Chiratae, Edelweiss Mutual Fund and GMO Venture plan to sell shares through the OFS. Cofounder Geetansh Bamania will also offload up to 20.07 lakh shares as part of the issue.
(The story will be updated soon)
The post Rentomojo Gets SEBI Nod For IPO appeared first on Inc42 Media.
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