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Published on 6/02/2018 9:57:27 AM | Source: Dion Global Solutions Ltd

SEBI seeks clarification on IPO plans of IREDA

Markets regulator SEBI has sought clarification from Indian Renewable Energy Development Agency (IREDA), regarding its proposed initial public offerings, said the media reports. Without disclosing details of clarifications sought, SEBI has said "clarifications (are) awaited from lead manager(s)" for the proposed public issue. As per the latest weekly update of processing status of draft offer document filed with it, the Securities and Exchange Board of India (SEBI) has said that clarifications are awaited on the proposed IPO of IREDA.

The next update would be available on February 12. SEBI said that it might issue observations on IREDA document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought.

The observations from the regulator is necessary for any company to launch public offers. The regulator had last received any communication from IREDAI on January 19. IREDAI has "sought extension to submit requisite information".