Free Press Journal

Clarification sought on IPO plans of 10 cos


New Delhi : Markets regulator Sebi has sought clarifications from merchant bankers of 10 firms, including Lemon Tree Hotels and CMS Info Systems, regarding their proposed initial public offers (IPOs).

Together, these companies are estimated to raise more than Rs 6,000 crore, according to merchant banking sources. The other companies are ACME Solar Holding, H G Infra Engineering, Apollo Micro Systems, Prince Pipes and Fittings, Newgen Software Technologies, Seven Island Shipping, Karda Constructions and Amber Enterprises, according to the latest update by Sebi.

Without disclosing details of clarifications sought, Sebi has said “clarifications (are) awaited from lead manager(s)” for the proposed public issues. As per the latest weekly update of Sebi has said that clarifications are on the proposed IPOs of these 10 companies. The next update would be available on November 6.