Clarification required for Lavasa
T
he market regulator which is SEBI has sought the clarifications that are needed on the proposed Rs. 750-crore initial public offer (IPO) of construction major HCC’s realty arm Lavasa Corporation.
Without disclosing the details of clarifications sought, SEBI has said that the clarifications are still awaited from lead manager for the proposed public issue. As per according to the latest weekly update to the processing status of draft offer documents filed with Securities and Exchange Board of India (SEBI), regulator has said clarifications were awaited on the proposed IPO of Lavasa as on August 8, 2014.
Lavasa has filed its draft red-herring prospectus with SEBI to go in for an IPO of its equity shares of Rs. 10 each aggregating to Rs. 750 crore.
It would take some time to get the needed clarifications. Post this certain information and facts will be looked into. The construction of the major HCC realty arm Lavasa Corporation is causing much problem. The corporation are trying to get the needed details that are required to operate. Probably the work will be done and finished within some months.
Source: The Hindu Business Line
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