SEBI approves Prabhat Dairy IPO plans

India Infoline News Service | Mumbai | June 17, 2015 09:17 IST

SEBI gives green signal to Prabhat Dairy to launch IPO; issues its final 'observations' on the draft offer documents on June 8

Prabhat Dairy has received the approval of SEBI (Securities and Exchange Board of India) to raise at least Rs 300 crore through an initial public offer (IPO).

The company had filed draft red herring prospectus (DRHP) with SEBI through its lead merchant banker Edelweiss Financial Services in March.

SEBI issued its final 'observations' on the draft offer documents on June 8, which is necessary for companies to launch any public offer. 

Ahmednagar-based Prabhat Dairy, an integrated milk and dairy products company catering to institutional as well as retail customers, plans to raise up to Rs 300 crore via fresh issue of shares. 
 

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