1 / 7If you don't want to miss out on a great earning opportunity, save your pocket money. Because Tata, the country's largest conglomerate, will soon have not one but two public offerings (IPOs).2 / 7 Tata Play, the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, obtained the regulator’s observation letter on April 26.3 / 7IdeaForge Technology, which filed its preliminary papers with the regulator in February this year, got its observation letter on April 13, an update with Sebi showed on Tuesday.4 / 7 In the Securities and Exchange Board of India’s (Sebi’s) parlance, its observation implies its go-ahead to launch the IPO.5 / 7Under the pre-filing route, there is no pressure on the company to go for an IPO, experts said. Moreover, unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi’s final comments.6 / 7This route also provides flexibility to change the primary issue size by 50 per cent till the Updated Draft Red Herring Prospectus (UDRHP) stage. Going by the draft papers, IdeaForge Technology’s public issue comprises a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 48,69,712 equity shares by one of the promoters and existing shareholders.7 / 7Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital requirements and Rs 40 crore for investment in product development and general corporate purposes.