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The market regulator SEBI has provided its approval to Financial Technology firm Intellect Design Arena for raising up to Rs 200 crore through a rights issue.
In January, draft papers had been filed by the company with the Securities and Exchange Board of India. It had obtained ‘observations’ from the regulator on April 13 that is necessary for any company to launch a public offer.
As per the draft papers, Intellect Design Arena aims to garner up to Rs 200 crore via rights issue.
