Tips to save IPO listing gains tax!
In the years 2023 and 2024, many IPOs brought huge earnings for the investors. But tax also has to be paid on this! What is the tax rule on booking listing gains from IPO? How can tax liability on listing gains be reduced? How will the tax be calculated on selling IPO shares?
New Delhi: Arohan Financial Services, a non-banking financial company, has filed draft papers with markets regulator SEBI for its proposed initial public offer (IPO).
According to market sources, the Kolkata-based company plans to raise between Rs 1,750 crore and Rs 1,800 crore.
The public offer of the Aavishkaar Group promoted company comprises a fund raise through a fresh issuance of shares amounting to Rs 850 crore.
The company will have an offer for sale of 2,70,55,893 equity shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II Ltd, according to Draft Red Herring Prospectus (DRHP).
The net proceeds from the fresh issue will be utilised for augmenting the company’s capital base to meet their future capital requirements.
Edelweiss Financial Services Ltd, ICICI Securities Ltd, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited are the managers to the issue.