<p>Godrej Industries arm Godrej Agrovet has received capital markets regulator Sebi’s go-ahead to raise an estimated Rs 1,000-1,200 crore through an initial public offering.<br /><br />The company had filed draft red herring prospectus (DRHP) with Sebi in July and received its ‘observations’ on September 8, which is very necessary for any company to launch public offer, as per the latest update with the markets regulator.<br /><br />Godrej Agrovet’s public issue comprises fresh issue of shares worth Rs 300 crore besides an offer for sale of scrips of up to Rs 300 crore by Godrej Industries and up to 1.23 crore shares by V-Sciences, as per the DRHP.<br /><br />Besides, the company is considering a pre-IPO placement of up to 5.6 lakh equity shares worth up Rs 252 crore.</p>
<p>Godrej Industries arm Godrej Agrovet has received capital markets regulator Sebi’s go-ahead to raise an estimated Rs 1,000-1,200 crore through an initial public offering.<br /><br />The company had filed draft red herring prospectus (DRHP) with Sebi in July and received its ‘observations’ on September 8, which is very necessary for any company to launch public offer, as per the latest update with the markets regulator.<br /><br />Godrej Agrovet’s public issue comprises fresh issue of shares worth Rs 300 crore besides an offer for sale of scrips of up to Rs 300 crore by Godrej Industries and up to 1.23 crore shares by V-Sciences, as per the DRHP.<br /><br />Besides, the company is considering a pre-IPO placement of up to 5.6 lakh equity shares worth up Rs 252 crore.</p>