Indira IVF recently opted for filing in a confidential manner.
Indira IVF Hospital Limited has postponed a plan to launch an IPO with a size of Rs 3500 crore in the market. The company’s founder Ajay Murdia was preparing to bring an IPO in the market keeping in mind the Bollywood biopic. According to the Economic Times news, the company allegedly got into trouble with the market regulator SEBI for the release of the film Tumko Meri Kasam. Market regulator SEBI questioned the timing of bringing an IPO from the company.
Apply for IPO only a month after the film’s release
According to the news, the film, which is a fictional edition of Murdia’s life and the chain of his clinics. The film was released on 21 March. According to the news, just one month after the company announced the announcement that it has confidentially applied to the IPO. Let me tell you, the film directed by Vikram Bhatt stars Anupam Kher, Isha Deol, Ada Sharma and Ishwak Singh in the lead roles. The film is produced by Indira Entertainment. Ajay Murdia’s son Nitij and Kshitij are its creators.
Detailed information was not given to wide public
According to the report, the Securities and Exchange Board of India had focused on it, and later Indira IVF had expressed concern about promoting herself indirectly, while detailed information about this proposal was not given to the widespread public. Sources said that SEBI’s view on the biopic, and its release IPO was very close to filing, which is why the company was forced to withdraw the proposal.
After filing the paper near SEBI, the company said
Indira IVF Hospital Limited said after filing the paper near SEBI that the filing of already filed Draft Red Herring Prospects (DRHP) does not mean that the company will offer an IPO. Indira IVF is one of those companies who have recently opted for a confidential filing. Other companies selecting this route include Edtech Unicorn Physicswala Limited, Swiggi Limited etc.
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