Two companies, Tata Play earlier known as Tata Sky and ideaForge Technology, a drone maker has received observation letters from the capital markets regulator SEBI to raise funds via IPO.
Tata Play being the first company which uses the route of confidential pre-filing of draft papers option for an initial share sale in December 2022, obtained the regulator’s observation letter on April 26.
ideaForge Technology Limited has filed DRHP in February 2023 and received the observation letter from the SEBI on April 13 to go ahead with the IPO.
The ideaForge Technology Limited public issue comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 48,69,712 equity shares by one of the promoters and existing shareholders, according to DRHP.
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