Sebi seeks fresh clarification on UFO Moviez's Rs 750-cr IPO
|
20 Feb 2015
|
|
SEBI has sought fresh clarification from UFO Moviez India on the company’s proposed Rs. 750 crore initial public offer (IPO), reported PTI. Without disclosing the details of information sought, the Securities and Exchange Board of India said “clarifications awaited from lead manager” for the proposed public issue. According to the latest weekly update on the processing status of draft offer documents filed with SEBI, the regulator has said clarifications were awaited on the proposed IPO of UFO Moviez India as on February 13. The status is updated on a weekly basis by the regulator. The next update of the status would be uploaded on SEBI’s website on the next working day. SEBI said it might issue observations on the documents of the company within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them. Earlier, SEBI had sought clarification regarding the issue last month. UFO Moviez India is country’s largest digital cinema distribution network and in-cinema advertising platform in terms of numbers of screens. The regulator had received draft document of UFO Moviez on December 8 through its merchant banker Axis Capital. As per draft red herring prospectus (DRHP) filed with SEBI, UFO Moviez plans to mop-up Rs. 750 crore through its IPO. The selling shareholders in UFO Moviez’s IPO include private equity investors such as 3i Research (Mauritius) Ltd, P5 Asia Holding Investments (Mauritius) Ltd (P5) and promoters selling their partial holdings in the company. The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and for the sale of equity shares by the selling shareholders. The shares are proposed to be listed on the NSE and the BSE. |
| Source: Dion Global Type: IPO Related |
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback