City
Epaper

SEBI keeps Adani Wilmar IPO in abeyance

By IANS | Updated: August 20, 2021 23:00 IST

Mumbai, Aug 20 The Securities & Exchange Board of India (SEBI) has kept the initial public offering (IPO) ...

Open in App

Mumbai, Aug 20 The Securities & Exchange Board of India (SEBI) has kept the initial public offering (IPO) of Adani Wilmar in abeyance.

The website of the capital market regulator showed that the Rs 4,500 crore issue has been "kept in abeyance".

As per the SEBI (Issuance of Observations on Draft Offer Documents Pending Regulatory Actions) Order, 2020, issued by the SEBI on February 5, 2020, the regulator is obligated to keep issuance of observations in abeyance for a period of 30 days or 45 days or 90 days or more, as the case may be.

Adani Wilmar is a joint venture of Adani Group and Singapore's Wilmar Group.

During the Monsoon session of the Parliament, Minister of State for Finance, Pankaj Chaudhary said that the SEBI is investigating some Adani group companies with regard to compliance with SEBI regulations while the Directorate of Revenue Intelligence is also probing certain entities under the laws administered by it.

However, the minister added that the Enforcement Directorate is not probing these companies.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Securities and Exchange Board of IndiaPankaj chaudharymumbaisingaporeSebi
Open in App

Related Stories

Navi MumbaiMumbai: BMC Fines Contractor, Quality Agency ₹75 Lakh for Poor Roadwork

MumbaiCelebrating 65 Years of Maharashtra: Mumbai's Role in Shaping the State's Identity

NationalLPG Cylinder Price Cut From May 1: 19-Kg Commercial Gas Cylinder Becomes Cheaper by Rs 17, Check Rates in Mumbai, Kolkata

MumbaiMumbai: Gold Sales Cross ₹12,000 Crores Nationwide on Akshaya Tritiya; Mumbai MMR Sees ₹800 Crores Trade

NationalAkshaya Tritiya 2025: Gold Market Sees Huge Footfall Despite Price Hike (Watch Video)

International Realted Stories

InternationalUS V-P Vance hopes Pakistan will cooperate with India on probe in Pahalgam terror attack

InternationalTaiwan detects Chinese military activity near its territory

International"PM Modi has our full support": US State Dept spokesperson Tammy Bruce

InternationalIran Foreign Minister Araghchi to visit India on May 7-8, hold talks with EAM Jaishankar

InternationalTwo Syrian-Druze civilians evacuated to Israel for medical treatment