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The SEBI has issued observation letters to Jyoti CNC Automation and Popular Vehicles & Services on December 15, while BLS E-Services received the said letter on December 12.
Sachin Tendulkar backed-Azad Engineerings' Rs 740-crore IPO consists of a fresh issue of shares worth 240 crore and an offer-for-sale of shares worth Rs 500 crore
The issue comprises fresh equity of Rs 240 crore and an offer for sale (OFS) of Rs 500 crore. Under the OFS, promoter Rakesh Chopdar, investor Piramal Structured Fund, and DMI Finance will offload shares.
The company's shares are expected to get listed on both the exchanges. Here are 10 things to know about the offer.
Azad Engineering IPO: The Rs 740-crore issue is a combination of fresh issue of shares and OFS.