Gretex Share Broking Files IPO Papers with SEBI to Raise Funds

Gretex Share Broking, a prominent player in the financial services sector, has taken a significant step toward raising funds for expansion and growth. The company recently filed preliminary papers with the Securities and Exchange Board of India (SEBI) to initiate the process of launching an initial public offering (IPO).

Also See: Upcoming IPO in India

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Gretex Share Broking IPO

The IPO plan, as outlined in the draft red herring prospectus (DRHP) submitted to SEBI, consists of a combination of fresh issuances and an offer-for-sale (OFS) of existing shares. Gretex Share Broking aims to issue approximately 1.67 crore equity shares as part of the fresh issue, while existing shareholders intend to offer 30.96 lakh shares through the OFS.

The capital raised from the fresh issue will be allocated to meet the company’s working capital requirements and support general corporate purposes. This strategic move underlines Gretex Share Broking’s commitment to strengthening its market position and expanding its service offerings.

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Gretex Share Broking, headquartered in Mumbai, operates in various segments, including market making, stock broking, underwriting capital market issuances, and serving as depository participants of the National Securities Depository Limited (NSDL). The company’s comprehensive range of financial services has garnered a strong reputation in the industry.

Gretex Share Broking IPO

Pantomath Capital Advisors has been appointed as the sole book running lead manager to oversee the IPO process, ensuring its smooth execution. Upon successful completion of the IPO, Gretex Share Broking’s equity shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing investors with an opportunity to participate in the company’s growth journey.

Also Read: When Can a Company Go for IPO in India

Key Figures at Gretex Share Broking:

  • Arvind Harlalka: Director
  • Alok Harlalka: Director
  • Sumeet Harlalka: Chief Executive Officer (CEO)

Gretex Share Broking offers a range of services to its clients, including equity trading, derivatives trading, and futures and options trading. The company also believes in the significant potential of currency futures in the Indian financial landscape and provides services in the fixed income securities market.

As Gretex Share Broking takes its IPO plans forward, market observers will be closely watching its progress in the coming months. This move represents another significant development in the Indian financial services sector, further solidifying the company’s position as a key player in the industry.

Also Read: The IPO Cycle: From Inception to Listing

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