2 firms get nod for IPO

New Delhi: Travel distribution company TBO Tek Ltd and flexible workspace solutions firm Awfis Space Solutions Ltd have received markets regulator Sebi’s go-ahead to raise funds through Initial Public Offerings (IPOs). The two firms, which filed their preliminary IPO papers with the regulator between November and December, obtained their observations during April 15-16, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.

In Sebi’s parlance, its observations mean it’s going ahead to float the public issue. TBO Tek’s maiden public issue comprises a fresh issue of equity shares aggregating up to Rs 400 crore and an OFS of up to 15,635,996 equity shares by promoters and investors.