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New Delhi, Nov 8 (PTI) IT solution provider Inspira Enterprise India has received markets regulator Sebi's go-ahead to raise Rs 800 crore through an initial public offering (IPO).
The initial share-sale consists of fresh issuance of equity shares to the tune of Rs 300 crore and an offer of sale (OFS) of of equity shares worth Rs 500 crore by Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust, according to the draft red herring prospectus (DRHP).
As part of the OFS, Prakash Jain will to offload equity shares up to Rs 131.08 crore, Manjula Jain Family Trust will sell up to Rs 91.77 crore and Prakash Jain Family Trust will divest shares up to Rs 277.15 crore.
Inspira Enterprise, which filed preliminary IPO papers with the regulator in August, obtained its observations letter on November 1, an update with Sebi showed on Monday.
In the Sebi parlance, issuance of observations implies its go-ahead for the IPO.
The company might consider a pre-IPO placement of Rs 75 crore. If completed, the fresh issue size will be reduced accordingly.
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