Tata Play’s confidentially filed IPO gets market regulator Sebi go-ahead

The Securities and Exchange Board of India (Sebi) has given its go-ahead to Tata Play’s proposed public issue. The Tata group firm is the first company in India to file confidential papers with the markets regulator for an initial public offering (IPO).

Sebi on April 26 had issued its observation letter on the company’s pre-filed offer document. Tata Play could be the first company from the group to launch an IPO in 18 years.

According to market sources, the company, which is a joint venture between Tata Sons and The Walt Disney Company, is eyeing to raise around Rs 3,000 crore via the IPO, which can be a mix of fresh and secondary share sales.