Which of the following statements is/are correct regarding Initial Public Offering (IPO) in India?
1)An IPO is a process by which a company raises funds by selling its shares to the public for the first time
2)An IPO can only be done by unlisted companies in India.
3)It is a process by which a private company becomes public.
Statement 1 is correct as an IPO is a process by which a company raises funds by selling its shares to the public for the first time. Statement 2 is incorrect as even listed companies can undertake an IPO in India to raise additional funds.
