Videocon D2H withdraws Rs 700 cr IPO proposal
07/04/2015 16:14
Direct-to-home services provider Videocon d2h has withdrawn its Rs 700-crore Initial Public Offering proposal amid reports that it plans to start a fresh process to hit the capital markets, reported PTI. The company had filed draft offer documents with the Securities and Exchange Board of India for the proposed IPO in in September last year. However, the company through its lead merchant banker Axis Capital withdrew its offer documents on March 27 this year, as per the latest update available with Sebi. The regulator, in February, had decided to keep the processing of the company's offer document in "abeyance" following a request made by Videocon D2H in this regard. The company is reportedly planning to file fresh papers with Sebi to float an IPO.
