Videocon D2H’s Rs. 700 cr IPO likely to be delayed
The proposed Rs. 700-crore IPO of Videocon D2H may get delayed as the regulator SEBI has decided to keep the processing of the offer document in “abeyance” following a request made by the company in this regard.
“Processing of the offer document (has been) kept in abeyance as requested by Lead Manager,” SEBI said in an update on processing status of pending IPO offer documents.
Earlier, SEBI had sought clarifications from the lead manager of the issue, for which the company had filed draft offer documents on September 30, 2014.
Videocon D2H Ltd, the satellite television arm of Videocon Group, wrote to SEBI about the issue on February 9, requesting to keep the processing in abeyance.
However, it could not be ascertained immediately what was the reason for such a request.
Videocon D2H’s Rs 700 cr IPO likely to be delayed | Business Line