Sebi on fast-track mode, clears 16 IPO applications so far
31/05/2016 12:33
Sebi seems to be on the fast-track mode in case of giving approvals to IPO proposals, as it has cleared 16 such applications this year so far while just four companies await green signal to launch their public offers, said the media report. Among the pending ones, three firms - Hinduja Leyland Finance, Seaways Shipping and Logistics and CL Educate - filed their IPO prospectus with the regulator on March 30. The draft prospectus of RBL Bank (formerly Ratnakar Bank) was filed in June last year but has been 'kept in abeyance' as the past violation by the company is under examination. The regulator is often accused of taking long time for clearing the IPO issues. However, it approved as many as 16 IPO applications in the first five months of 2016 and only four companies are currently awaiting clearance for launching their public issues. In case of pending approvals, Sebi has sought clarification from the merchant bankers of Hinduja Leyland Finance and Seaways Shipping and Logistics regarding their proposed initial public offers (IPOs). While the initial-share sale programme of CL Educate is currently under process. All the 16 firms had filed draft papers with Sebi during September 2015 and April 2016. So far this year, as many as ten companies including Parag Milk Foods, TeamLease Services, Infibeam Incorporation and Quick Heal Technologies -- launched their initial public offerings.
31/05/2016 12:33
Sebi seems to be on the fast-track mode in case of giving approvals to IPO proposals, as it has cleared 16 such applications this year so far while just four companies await green signal to launch their public offers, said the media report. Among the pending ones, three firms - Hinduja Leyland Finance, Seaways Shipping and Logistics and CL Educate - filed their IPO prospectus with the regulator on March 30. The draft prospectus of RBL Bank (formerly Ratnakar Bank) was filed in June last year but has been 'kept in abeyance' as the past violation by the company is under examination. The regulator is often accused of taking long time for clearing the IPO issues. However, it approved as many as 16 IPO applications in the first five months of 2016 and only four companies are currently awaiting clearance for launching their public issues. In case of pending approvals, Sebi has sought clarification from the merchant bankers of Hinduja Leyland Finance and Seaways Shipping and Logistics regarding their proposed initial public offers (IPOs). While the initial-share sale programme of CL Educate is currently under process. All the 16 firms had filed draft papers with Sebi during September 2015 and April 2016. So far this year, as many as ten companies including Parag Milk Foods, TeamLease Services, Infibeam Incorporation and Quick Heal Technologies -- launched their initial public offerings.
