The proposed Initial Public Offering (IPO) is entirely an Offer-For-Sale (OFS) of equity shares worth up to Rs 2,000 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday.
Noida-based Innovatiview India, has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering.
The OFS consists of the sale of shares worth up to Rs 800 crore each by Ashish Mittal and Ankit Agarwal, and up to Rs 320 crore worth of shares by Vishal Mittal and Abhishek Agarwal will be offloading shares for Rs 80 crore, respectively.
The story "Innovatiview India files draft papers with Sebi for Rs 2,000 crore IPO" has 429 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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