MF News HDFC AMC IPO may take some more time for listing

HDFC AMC IPO may take some more time for listing

SEBI has put on hold the IPO of HDFC AMC citing examination of past violation.

Team Cafemutual May 7, 2018

The IPO of HDFC AMC may take some more time to hit the primary markets. In the latest development, SEBI has put on hold the IPO of HDFC AMC citing examination of past violation.

“SEBI has sent a letter to lead manager Kotak Mahindra Bank that proceedings have been kept in abeyance for examination of past violations,” SEBI said on its website.

Though the regulator has not mentioned the details of past violations, it could be due to alleged violation in the front running case.

The IPO may get a valuation of Rs.30,000 crore and the price band may be set at Rs.1,400-Rs.1,500 a share.

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