India’s market regulator has approved the pre-filing of draft initial public offering (IPO) papers by ed-tech firm PhysicsWallah, according to a notification on the Securities and Exchange Board of India's (SEBI) website on Thursday.
The pre-filing route allows companies to submit draft IPO documents confidentially for regulatory review before making them public.
PhysicsWallah filed draft papers with the SEBI through the confidential route, the Times of India newspaper reported in March, citing sources.
The company is planning to raise about 46 billion rupees ($532.8 million) through the offering, which comprises both a fresh issue of shares as well as shares on offer for sale, the report added.
Indian IPO market, which had a slow start to the year, has recently gained traction, with about 10 company listings on the bourses in July so far and three more IPOs currently open.
The regulator has approved IPOs of companies including WeWork India, Veeda Clinical Research and Seedworks International, among others, in July.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
