Real estate firm Shriram Properties has received market regulator Sebi's go-ahead to float an initial public offering (IPO) through which it plans to raise about Rs 1,250 crore. The firm, which approached the regulator in December 2018 seeking its clearance to launch IPO, obtained Sebi's "observations" on April 9, according to the latest update with the market watchdog. Sebi's observations are necessary for any company to launch public issues such as IPO, follow-on public offer and rights issue.