Sebi seeks clarification from 4 companies on IPO plans
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24 Feb 2016
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Sebi has sought clarification from merchant bankers of four companies including Advanced Enzyme Technologies regarding their proposed initial public offerings. KPR Agrochem, S P Apparels and Thyrocare Technologies are the other companies from which Sebi has sought information. Without disclosing the details of clarifications sought, Sebi has said that it is awaiting response from Lead Managers for the proposed public offers. According to the latest weekly update on the processing status of draft offer documents, Sebi has said clarifications were awaited on the IPO of these four companies as on February 19, 2016. The next update would be uploaded on Sebi's website on February 29. Sebi said it might issue observations on draft offer documents within 30 days, after receiving satisfactory reply from the lead merchant bankers regarding the clarification or additional information sought from them. KPR Agrochem, S P Apparels and Thyrocare Technologies had filed draft papers with Sebi in December, while Advanced Enzyme Technologies approached the regulator last month. Most of these companies plans to utilise IPO proceeds for business expansion plans and working capital requirements. |
| Source: Dion Global Type: IPO Related |
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