Gretex Share Broking Initiates IPO Process, Files DRHP with Sebi for Capital Infusion

26 Dec 2023 , 12:05 PM

Gretex Share Broking, a Mumbai-based firm specializing in market making, stock broking, underwriting capital markets issuances, and serving as depository participants of NSDL, has submitted preliminary papers to the capital markets regulator SEBI for an initial public offering (IPO).

The proposed IPO comprises a fresh issue of 1.67 crore equity shares and an offer-for-sale (OFS) of 30.96 lakh shares by selling shareholders, as outlined in the draft red herring prospectus (DRHP) filed with SEBI on Friday. The funds generated from the fresh issue are earmarked for addressing working capital requirements and general corporate purposes.

Pantomath Capital Advisors has been appointed as the sole book running lead manager for the IPO, which will see the equity shares of Gretex Share Broking listed on both the BSE and NSE.