Gitanjali Gems‘ arm Nakshatra World has received capital markets regulator Sebi’s go-ahead to float an initial public offering.
The company had filed draft red herring prospectus (DRHP) with Sebi in March and obtained its ‘observations’ on June 9, which are necessary for launching any public offer, as per the latest update.
Going by the draft papers, the IPO comprises 1.8 crore equity shares of Nakshatra World, which offers jewellery under the brands Nakshatra, Gili, Asmi, Sangini, Diya, Parineeta and Rivaaz.
While the exact size of the IPO could not be ascertained, Gitanjali Gems had…