Sebi Seeks Clarifications On Lavasa's 750-Crore IPO

NEW DELHI: Market regulator Sebi has sought clarifications on the proposed 750-crore initial public offer of construction major HCC's realty arm Lavasa Corporation. Without disclosing the details of clarifications sought, Sebi has said "clarifications (are) awaited from lead manager" for the proposed public issue.

As per 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.

The status is updated on a weekly basis by the regulator and the next update of the status as on August 15, 2014, would be uploaded on the Sebi's website the next working day. Sebi said that it might issue observations on Lavasa's IPO document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them.

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