Tata Technologies, an arm of Tata Motors, Gandhar Oil Refinery (India) Ltd and non-banking financial company SBFC Finance have received capital market regulator Sebi’s approval to raise funds through initial public offerings.
The three companies, which filed their preliminary papers with Sebi between December 2022 and March 2023, obtained the regulator’s observations during June 21-23, an update with the markets watchdog showed on Tuesday.
In Sebi’s parlance, obtaining observations means its go-ahead to float the initial share sale.
