Over dozen companies apply for public offers in FY'15
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25 Nov 2014
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Looking to tap into the upbeat investor sentiment, over a dozen companies including Videocon D2H and Rashtriya Ispat Nigam Ltd have filed initial papers with market regulator Sebi for getting listed in the current fiscal, reported PTI. Since April, 13 firms have filed the Draft Red Herring Prospectus (DRHP) with Sebi to launch an initial public offer (IPO), while SMC Global Securities Ltd sought Sebi's approval for its Follow-on Public Offer (FPO), as per the media reports. All these firms filed their initial papers after the General election verdict was announced in mid-May. Of these, the Securities and Exchange Board of India has already given nod to the IPOs of Lavasa Corporation Ltd, Adlabs Entertainment Ltd, Ortel Communications Ltd and Monte Carlo Fashions Ltd. However, these four firms are yet to launch their public offers. Besides, the regulator has sought clarification or additional information from the merchant bankers of some of the firms. Most of the companies plan to utilise IPO proceeds for capacity expansion as well as working capital requirements. |
| Source: Dion Global Type: IPO Related |
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