The Securities and Exchange Board of India (SEBI) in its latest update on March 25 said that the issuance of observations on the draft IPO document of WeWork India Management has been kept in abeyance, while Indira IVF Hospital has decided to withdraw its IPO papers last week.
Embassy Group-promoted premium flexible workspace operator WeWork India Management had filed draft red herring prospectus (DRHP) with the capital markets regulator on January 31, to raise funds via initial public offering (IPO).
The IPO comprised entirely an offer-for-sale of 4.37 crore equity shares by promoter Embassy Buildcon LLP, and investor 1 Ariel Way Tenant.
Further, Indira IVF Hospital, which is backed by the Sweden-headquartered investment firm EQT, has withdrawn its draft papers on March 19. The top fertility firm had filed draft papers with SEBI via the confidential pre-filing route for IPO in February.
Moneycontrol was the first to report that Indira IVF proposed to raise Rs 3,500 crore via an IPO which entirely comprised an offer-for-sale with no fresh issue component. "The plan is for the EQT component to be for Rs 2,900 crore and the balance portion of Rs 600 crore by the founders/ promoters group," sources had told Moneycontrol.
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Meanwhile, the SEBI has returned the draft offer document of Star Agriwarehousing and Collateral Management on March 19.
Global investment company Temasek-backed Star Agriwarehousing and Collateral Management had filed preliminary papers with the capital markets regulator on December 4, 2024.
The agricultural marketing company was planning to raise Rs 450 crore via a fresh issue of shares, and the remainder through an offer-for-sale of 2.69 crore equity shares. Claymore Investments (Mauritius) Pte, an indirect wholly owned subsidiary of Temasek Holdings, was supposed to be the largest selling shareholder offloading 1.19 crore equity shares via offer-for-sale, and remaining 1.5 crore shares will be sold by promoters in the OFS.
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