Federal Bank's arm Fedfina, IREDA get nod from Sebi to float IPOs

The Securities and Exchange Board of India (Sebi) has given approval to four companies to raise funds through initial public offerings (IPOs). Fedbank Financial Services, Indian Renewable Energy Development Agency, EPACK Durable, and Suraj Estate Developers received observation letters from Sebi. The IPO of Fedbank Financial Services consists of a fresh issue of equity shares and an offer for sale by the promoter and existing shareholder. The equity shares of these companies will be listed on the BSE and NSE.

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