Adlabs gets Sebi green signal for initial public offer

Adlabs Entertainment has received capital market regulator Sebi's approval to raise funds through an initial public offer (IPO).

The company had filed its draft red herring prospectus (DRHP) with Sebi in May, this year, for the proposed public offer. The document was filed by Deutsche Equities India Private Ltd, which is the lead manager for the issue. The Securities and Exchange Board of India had issued its final observations on the draft offer document on 13 October, which is necessary for companies to launch any public offer.

The regulator had received the draft offer documents on 22 May, 2014 through its lead manager. The company has proposed a public issue of 2.3 crore equity shares of face value of Rs 10 each.


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