SEBI approved Gitanjali firm IPO despite probe on Choksi
Markets regulator SEBI had approved the Initial Public Offering (IPO) of Gitanjali Gems subsidiary Nakshatra World last year, despite an ongoing five-year-old probe into alleged trading violations by owner Mehul Choksi. The regulator had given the final observation in the IPO within three months after the application was filed. However, the company ended up not launching the â¹650-crore IPO.