The Launch Of The IPO Of GoAir And ABSL Has Been Stuck

The launch of the IPO of GoAir and Aditya Birla Sun life has been stuck. Files of two IPOs including GoAir are stuck here, know why offers were not launched.

The launch of the IPO of GoAir and Aditya Birla Sun life has been stuck. Actually, the IPO file of both the companies was with Sebi, which has not been passed yet.

Sebi has deferred its decision on the proposal for the IPO of Aditya Birla Sun Life AMC. This information was obtained from the information related to this proposal posted on the website of SEBI on Monday.

Something similar happened with GoAir. However, the Securities and Exchange Board of India (SEBI) has not said anything else in this regard.

Asset Management Company (AMC) had submitted necessary documents to SEBI in April to raise money through IPO.

According to the latest information, SEBI has given some reason and said that the decision of IPO is postponed for the time being.

In the parlance of the market, SEBI’s comment is a kind of approval of IPO. IPO cannot be brought without a final decision.

Aditya Birla Sun Life AMC Ltd. It is a joint venture between Aditya Birla Group and Sun Life Financial Inc. Under the offer, 3.88 crore shares are to be sold.

In this, Aditya Birla Capital is going to sell its shares up to 28.51 lakh and Sun Life AMC 3.68 crore shares of its holding.

This would constitute 13.50 percent of the total paid-up capital of the company. It is estimated to get a total capital of Rs 1500-2000 crore.

Go Airlines had submitted documents for an IPO of Rs 3,600 crore. Because Sebi has stopped the investigation of the draft for the time being. Go Airlines (India) Ltd. has rebranded itself as Go First.

The company had submitted the documents for the IPO in May. The company will use the money raised from the IPO to pay off its debt.

According to the information posted on the website of SEBI, the regulator has for now withheld its conclusion for the IPO of Go Airlines.

This notice was posted on June 25. Approval of IPO of a company requires a conclusion from SEBI.

As per the existing rules, the regulator can withhold its findings in a case for 30 days, 45 days, or 90 days or more.