After the Paytm's IPO fiasco, SEBI has turned cautious while giving clearance to the initial share sales as it has returned the preliminary papers of half a dozen companies, including Oravel Stays, which operates hospitality chain OYO, in over two months. These companies have been asked to re-file their draft red herring prospectus with certain updates.
These companies have been asked to re-file their draft red herring prospectus with certain updates.
Apart from OYO, the firms whose draft papers have been returned by the regulator are --Go Digit General Insurance Ltd, a firm backed by Canada-based Fairfax Group; home-grown mobile maker Lava International; B2B payments and services provider Paymate India; Fincare Small Finance Bank India and integrated services company BVG India, according to an analysis of data with Sebi.
This story is from the March 20, 2023 edition of The Free Press Journal.
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This story is from the March 20, 2023 edition of The Free Press Journal.
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