SEBI Becomes Stricter About IPO: Returns Paper For Six Companies
The Security and Exchange Board in India (SEBI) has become more cautious while giving clearance to initial public offerings of the companies, consequently returning the draft papers of six companies looking forward to launching their IPOs. This write-up investigates the reasons behind SEBI’s stricter approach to IPO clearance.
SEBI returned draft papers from six companies, including Lava International, Oravel Stays, Paymate India, Go Digital General Insurance, Fincare Small Finance Bank, and BVG India. These companies seeking IPO clearance had planned to generate a collective amount of Rs.12500 crore through the primary market. As per a PTI report, these companies submitted their DRHP (Draft Red Herring Prospectus) to SEBI between September 2021 to May 2022, and SEBI returned...