NEW DELHI, Apr 21: Capital markets regulator Sebi has sought clarification from merchant bankers of six companies, including AGS Transact Technologies and Manpasand Beverages, regarding their proposed initial public offers.
Besides, Sebi has sought clarification from Shree Shubham Logistics, Precision Camshafts, SSIPL Retails and Dilip Buildcon for their IPOs.
Without disclosing the details of clarifications sought, Sebi has said that they are awaited from Lead Managers for the proposed public offers.
According to the latest weekly update on the processing status of draft offer documents filed with Sebi, the market regulator has said clarifications were awaited on the IPO of these companies as on April 17, 2015.
The next update, as on April 24, would be uploaded on Sebi’s website on next working day.
The capital market watchdog said it might issue observations on draft offer documents, within 30 days from the date of receipt, of these companies, satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them.
Sebi had received the draft offer documents of these six companies between November 2014 and March this year through their respective lead managers.
Most of these companies plans to utilise IPO proceeds for business expansion plans and working capital requirements.
So far this year, as many as eight companies, including Sadbhav Infrastructure Projects and UFO Moviez India, had received Sebi’s approval to launch their IPOs to fund business expansion and meet working capital requirements. (PTI)
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