REGULATOR WANTS FULLY COMPLIANT PAPERS
The Securities and Exchange Board of India (Sebi) has, in the last two months, returned at least half a dozen offer documents to investment bankers or companies involved with the initial public offerings (IPOs).
These include offer documents of Oravel Stays, the parent company of travel-tech firm OYO and Go Digit General Insurance, a firm backed by Canada-based Fairfax Group. On Friday, Sebi returned offer documents of Pune-based integrated facilities management company BVG India, and Fincare Small Finance Bank, which had refiled its draft prospectus with the regulator in August last year.
“While the reasons for returning the offer documents may be company-specific, Sebi wants the documents to be fully compliant at the time of filing. In general, any material update or change has to be incorporated in the draft red herring prospectus and refiled,” said a banker familiar with the matter.
Earlier, there used to be a lot of back and forth between the market regulator and the investment bankers on corrections and amplifications required for the draft prospectus — with the regulator asking for missing details and the bankers subsequently furnishing the replies.
هذه القصة مأخوذة من طبعة March 09, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 09, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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