India Exposition Mart receives approval for IPO

India, 22nd June: India Exposition Mart Ltd, a leading integrated exhibitions and conventions venue in India, announced that it has received capital markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise Rs 6 trillion (US$77 million) through an initial public offering (IPO).

According to the draft red herring prospectus, the IPO comprises the fresh issue of equity shares of up to Rs 4.5 trillion (US$58 million) and an Offer For Sale (OFS) of up to 11,210,659 equity shares by existing shareholders.