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By EquityPandit

Flemingo Travel Retail files papers for IPO with Sebi

February 17, 2018

Flemingo Travel Retail, has files preliminary papers with Sebi to gather Rs.2,600 crore via an initial share sale (IPO).

According to the draft papers filed with Sebi, the firm will issue fresh shares worth Rs.2,423 crore besides an offer for sale of 11,29,500 scrips by one of its subsidiary Flemingo Duty Free Shop Mumbai Pvt Ltd.

Further, the money raised via the public issue will be used towards, acquisition of 100% of the equity interest in Flemingo International (UK) Ltd from corporate promoter, Flemingo International.

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