PROCESSING STATUS OF DRAFT OFFER DOCUMENTS FILED WITH SEBI DURING THE FINANCIAL YEAR 2008-09
(Status as on June 18, 2010)
1. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 require every issuer, being an unlisted company desirous of making an initial public offer and a listed company desirous of making a rights issue for a value exceeding Rs. 50 lacs or a public offer, to file a draft offer document with SEBI through a merchant banker(s). The merchant banker(s) correspond with SEBI on behalf of the issuer.
2. In terms of the Regulations, SEBI may issue observations on a draft offer document filed with it within 30 days from the later of the following dates:
(a) the date of receipt of the draft offer document under sub-regulation (1); or
(b) the date of receipt of satisfactory reply from the lead merchant bankers, where the Board has sought any clarification or additional information from them; or
(c) the date of receipt of clarification or information from any regulator or agency, where the Board has sought any clarification or information from such regulator or agency; or
(d) the date of receipt of a copy of in-principle approval letter issued by the recognised stock exchanges.
3. In terms of General Order no. 1 of 2006, viz., SEBI (Issuance of Observations on Draft Offer Documents Pending Regulatory Actions) Order, 2006, issued by SEBI on December 8, 2006, under certain circumstances, SEBI is obligated to keep issuance of observations in abeyance for a period of 45 days or 90 days, as the case may be. Any time taken by entities/notice(s), being the issuer/its promoter(s)/director(s)/group companies against whom show cause notice has been issued by SEBI, shall be excluded while computing the period of 90 days.
4. Certain abbreviations have been used in the report, the meaning of which is as under:
IPO (Fresh) = Initial public offer through issue of shares
IPO (Offer for Sale (OFS)) = Initial public offer through offer for sale of existing shares
IPO (Fresh + OFS) = Initial public offer through issue of shares as well as offer for sale of existing shares
FPO (Fresh) = Public offer by a listed company through issue of shares
FPO (Fresh + OFS) = Public offer by a listed company through issue of shares as well as offer for sale of existing shares
FPO (OFS) = Public offer by a listed company through offer for sale of existing shares
RI = Rights issue by a listed company, for a value in excess of Rs. 50 lacs
Composite Issue = Public offer cum rights issue by a listed company
SE = Stock Exchange
OD = Offer Document
LM = Lead Manager to the Issue
Coordinating LM (Pre-issue) = Lead Manager responsible for coordinating with SEBI in respect of the offer document.
5. This report is for the limited purpose of informing the processing status of draft offer documents filed with SEBI. For any further details, issuer / public may contact the LM(s) concerned.
6. In the report, draft offer documents on which observations have been issued or which have been withdrawn / closed have been highlighted in grey colour for easy reference.
7. Given below is the processing status of draft offer documents filed with SEBI on or after APRIL 1, 2008. The status is as on June 18, 2010. The report is being updated on a weekly basis and the status as on June 25, 2010 would be uploaded on the SEBI website on the next working day.
|
Sl. No. |
Issuer company |
Coordinating LM (Pre-issue) |
Type of Issue |
Draft OD receipt date |
Processing Status |
|
|
1 |
Rites Limited |
Kotak Mahindra Capital Company Limited |
IPO (Fresh + OFS) |
Apr-1-2008 |
Observation issued on May-23-2008. |
|
|
2 |
Ajanta Manufacturing Limited |
Enam Securities Private Limited |
IPO (Fresh) |
Apr-10-2008 |
Withdrawn vide LM’s letter dated Dec-10-2008 |
|
|
3 |
Gangotri Iron & Steel Co. Limited |
Sumedha Fiscal Services Limited |
RI |
Apr-30-2008 |
Observation issued on Feb-26-2009. |
|
|
4 |
Neoteric Infomatique Limited |
Microsec Capital Limited |
IPO (Fresh) |
Apr-30-2008 |
Withdrawn vide LM letter dated June-09-2010 |
|
|
5 |
Adani Power Limited |
DSP Merrill Lynch Limited
|
IPO (Fresh) |
May-2-2008 |
Observation issued on Sep-4-2008. |
|
|
6 |
Coromondal Engg. Co. Limited |
Keynote Corporate Services Limited |
RI |
May-7-2008 |
Observation issued on July-22-2008. |
|
|
7 |
Infinite Computer Solutions (India) Limited |
SPA Merchant Bankers Limited |
IPO (Fresh + OFS) |
May-8-2008 |
Observation issued on March-20-2009. |
|
|
8 |
Gini & Jony Limited |
Edelweiss Capital Limited |
IPO (Fresh) |
May-8-2008 |
Observation issued on Jan-15-2009. |
|
|
9 |
Triveni Infrastructure Development Co. Limited |
India Infoline Limited |
IPO (Fresh) |
May-15-2008 |
Withdrawn by LM vide letter dated Feb-25-2009. |
|
|
10 |
Dish TV India Limited |
Enam Securities Private Limited |
RI |
May-21-2008 |
Observation issued on Sep-16-2008. |
|
|
11 |
English Indian Clays Limited |
PNR Securities Limited |
RI |
May-27-2008 |
File closed. |
|
|
12 |
Sumeet Industries Limited |
Keynote Corporate Services Limited |
RI |
May-29-2008 |
Observation issued on Sep-29-2008 |
|
|
13 |
Godrej Properties Limited |
ICICI Securities Limited |
IPO (Fresh) |
May-30-2008 |
Observation issued on June-02-2009 |
|
|
14 |
Alkali Metals Limited |
Saffron Capital Advisors Private Limited |
IPO (Fresh) |
June-2-2008 |
Observation issued on July-21-2008. |
|
|
15 |
Edserv Softsystems Limited |
Keynote Corporate Services Limited |
IPO (Fresh) |
June-2-2008 |
Observation issued on Dec-18-2008 |
|
|
16 |
Horizon Infrastructure Limited |
Saffron Capital Advisors Private Limited |
RI |
June-2-2008 |
Withdrawn Draft Letter of offer vide letter dated Oct-01-2008 |
|
|
17 |
Raj Oil Mills Limited |
Karvy Investor Services Limited |
IPO (Fresh) |
June-6-2008 |
Incomplete documentation. Processing commenced from the date of receipt of complete documentation, which has been taken as the inward date (Refer to sl. no. 19) |
|
|
18 |
Sadhana Nitro Chem Limited |
Keynote Corporate Services Limited |
RI |
June-17-2008 |
Observation issued on Sep-1-2008. |
|
|
19 |
Raj Oil Mills Limited |
Karvy Investor Services Limited |
IPO (Fresh) |
June-23-2008 |
Observation issued on Feb-25-2009. |
|
|
20 |
Nouveau Multimedia Limited |
Comfort Securities Private Limited |
RI |
June-23-2008 |
Observation issued on June-09-2009. |
|
|
21 |
Cellebrum Technologies Limited |
Enam Securities Private Limited |
IPO (Fresh) |
June-27-2008 |
File closed vide letter dated July-25-2008 to BRLM, on account of non-compliance of SEBI DIP Guidelines with regard to eligibility norms and disclosure of Financial information. |
|
|
22 |
C. Mahendra Exports Limited |
Yes Bank Limited |
IPO (Fresh) |
June-30-2008 |
Observations issued on Nov-5-2008 |
|
|
23 |
Luminaire Technology Limited |
VC Corporate Advisors Private Limited |
RI |
July-3-2008 |
Incomplete documentation. Processing commenced from the date of receipt of complete Documentation, which has been taken as the inward date (Refer sl. no. 59) |
|
|
24 |
Tata Investment Corporation Limited |
JM Financial Consultants Private Limited |
RI |
July-3-2008 |
Observations issued on Aug-29-2008. |
|
|
25 |
Gemini Eng-Fab Limited |
Almondz Global Securities Limited |
IPO (Fresh) |
July-10-2008 |
Observations issued on Sep-19-2008. |
|
|
26 |
ASAL |
Yes Bank Limited |
RI |
July-11-2008 |
Withdrawn Draft Letter of Offer vide letter dated Oct-27-2008 |
|
|
27
|
Persistent systems Limited |
Enam Securities Private Limited |
IPO (Fresh) |
July-15-2008 |
Withdrawn DRHP vide letter dated Oct-27-2008 |
|
|
28 |
Uttam Sugar Mills Limited |
SPA Merchant Bankers Limited |
RI |
July-18-2008 |
Observations issued on Apr-15-2009. |
|
|
29 |
Futura Polyesters Limited |
IDBI Capital Market Services Limited |
RI |
July-23-2008 |
Observations issued on June-23-2009. |
|
|
30 |
CHL Limited |
Keynote Corporate Services Limited |
RI |
July-29-2008 |
Observations issued on Dec-23-2008. |
|
|
31 |
Radiant Info Systems Limited |
Saffron Capital Advisors Limited |
IPO (Fresh) |
July-30-2008 |
Observation issued on June-11-2009. |
|
|
32 |
Excel Infoways Limited |
Chartered Capital & Investment Limited |
IPO (Fresh) |
Aug-5-2008 |
Observations issued on Apr-15-2009. |
|
|
33 |
Rishabhdev Technocable Limited |
IDBI Capital Market Services Limited |
IPO (Fresh) |
Aug-6-2008 |
Observations issued on Dec-22-2008. |
|
|
34 |
NHPC Limited |
Enam Securities Private Limited |
IPO (Fresh + OFS) |
Aug-6-2008 |
Observations issued on Sep-18-2008. |
|
|
35 |
Trinity India Limited |
Fortune Financial Services (India) Limited |
IPO (Fresh) |
Aug-7-2008 |
Observations issued on Nov-11-2008. |
|
|
36 |
Federal-Mogul Goetze (I) Limited |
Centrum Capital Limited |
RI |
Aug-7-2008 |
Observation issued on Oct-1-2008 |
|
|
37 |
Astec Lifesciences Limited |
Almondz Global Securities Limited |
IPO (Fresh) |
Aug-11-2008 |
Observation issued on Nov-4-2008 |
|
|
38 |
Jindal Cotex Limited |
Saffron Capital Advisors Limited |
IPO (Fresh) |
Aug-18-2008 |
Observation issued on June-19-2009. |
|
|
39 |
Dover Securities Limited |
Chartered Capital & Investment Limited |
RI |
Aug-28-2008 |
Observation issued on Jan-7-2009. |
|
|
40 |
Magnum Ventures Limited |
Chartered Capital & Investment Limited |
RI |
Aug-29-2008 |
Withdrawn vide LM’s letter dated Apr-22-2009. |
|
|
41 |
Polytex (I) Limited |
VC Corporate Advisors Private Limited |
RI |
Sep-8-2008 |
Withdrawn vide LM’s letter dated July-06-2009. |
|
|
42 |
Syncom Healthcare Limited |
Chartered Capital & Investment Limited |
IPO (Fresh) |
Sep-15-2008 |
Observation issued on November-05-2009. |
|
|
43 |
Ramco Systems Limited |
Centrum Capital Limited |
RI |
Sep-19-2008 |
Withdrawn by LM vide letter dated June 10, 2009. |
|
|
44 |
Chemplast Sanmar Limited |
Ind Global Corporate Finance Private Limited |
RI |
Sep-26-2008 |
Observation issued on Jan-30-2009. |
|
|
45 |
Globus Spirits (Refiled) |
SREI Capital Markets Limited |
IPO (Fresh) |
Sep-25-2008 |
Observation issued on Feb-11-2009. |
|
|
46 |
Aravali Infrapower Limited |
Chartered Capital & Investment Limited |
IPO (Fresh) |
Sep-29-2008 |
Observation issued on November-04-2009. |
|
|
47 |
BS Transcomm Limited |
IL&FS Investsmart Securities Limited |
IPO (Fresh) |
Sep-29-2008 |
Observation issued on January-06-2010. |
|
|
48 |
AMR Constructions Limited |
PL Capital Markets Private Limited |
IPO (Fresh) |
Sep-30-2008 |
Observation issued on January-29-2010. |
|
|
49 |
MBL Infrastructures Limited |
Motilal Oswal Investment Advisors Private Limited |
IPO (Fresh) |
Sep-30-2008 |
Observation issued on July-30-2009 |
|
|
50 |
Tebma Shipyard Limited
|
Enam Securities Private Limited |
RI |
Sep-30-2008 |
Observation issued on September-22-2009 |
|
|
51 |
Gujarat Pipava Port Limited |
IDFC – SSKI Limited |
IPO (Fresh) |
Sep-30-2008 |
Withdrawn Draft RHP vide letter dated March-05-2009. |
|
|
52 |
Wire & Wireless (India) Limited |
Enam Securities Private Limited |
RI |
Sep-30-2008 |
Observations issued on Apr-17-2009. |
|
|
53 |
Mahindra Holidays & Resorts (India) Limited |
Kotak Mahindra Capital Company Limited |
IPO (Fresh) |
Sep-30-2008 |
Observation issued on Mar-23-2009. |
|
|
54 |
Natraj Ceramics & Chemical Industries Limited |
Chartered Capital & Investment Limited |
RI |
Oct-3-2008 |
Observation issued on Feb-18-2009. |
|
|
55 |
Thomas Cook (I) Limited |
Ambit Corporate Finance Private Limited |
RI |
Oct-10-2008 |
Observation issued on Dec-17-2008 |
|
|
56 |
Mid Valley Entertainment Limited |
Saffron Capital Advisors Limited |
IPO (Fresh) |
Oct-24-2008 |
Observation issued on May-05-2009. |
|
|
57. |
Usher Eco Power Limited |
IDBI Capital Market Services Limited |
IPO (Fresh) |
Oct-29-2008 |
Observation issued on Apr-24-2009. |
|
|
58 |
Syncom Formulation (India) Limited |
Comfort Securities Pvt. Ltd. |
RI |
Nov -19-2008 |
Observation issued on Apr-21-2009. |
|
|
59 |
Luminaire Technology Limited |
VC Corporate Advisors Private Limited |
RI |
Dec-18-2008 |
Observation issued on Apr-23-2009. |
|
|
60 |
Texmo Pipes and Products Limited |
Almondz Global Securities Limited |
IPO (Fresh) |
Dec-23-2008 |
Observation issued on October-20-2009. |
|
|
61 |
Great Eastern Energy Corporation Limited |
Enam Securities Private Limited |
IPO (Fresh) |
Dec-26-2008
|
Observation issued on October-07-2009. |
|
|
62 |
Pradip Overseas Limited |
IL&FS Investsmart Securities Limited |
IPO (Fresh) |
Dec-31-2008 |
Observation issued on October 29, 2009 |
|
|
63. |
Sea TV Network Limited |
Chartered Capital & Investment Limited |
IPO (Fresh) |
Dec-31-2008 |
Observation issued on November-04- , 2009 |
|
|
64. |
High Energy Batteries (India) Ltd. |
Indbank Merchant Banking Services Ltd. |
RI |
Jan-23-2009 |
Observation issued on April-06-2009. |
|
|
65. |
Mayajaal Entertainment Limited |
Comfort Securities Private Limited |
IPO (Fresh+OFS) |
Jan-27-2009 |
Withdrawn by LM vide letter dated January-04-2010. |
|
|
66 |
Alok Industries Ltd. |
SBI Capital Markets Ltd. |
RI |
Feb-11-2009 |
Observation issued on March-16-2009. |
|
|
67 |
Greycells Entertainment Ltd. |
Centrum Capital Limited |
RI |
Mar-18-2009 |
Incomplete documentation. Processing will commence from the date of receipt of complete Date of receipt of complete documentation, which has been taken as the inward date (Refer to sl. no. 7 in the processing status of 2009-2010.) |
|
|
68 |
Thinksoft Global Services Limited |
Karvy Investor Services Limited |
IPO |
March-20-2009 |
Observation issued on July-15-2009. |
|
|
69 |
Religare Enterprises Limited |
Enam Securities Private Limited |
RI |
Mar-30, 2009 |
Observation issued on December 02, 2009. |
|
|
70 |
Perfectpac Limited |
Sobhagya Capital Options Limited |
RI |
Mar-26-2009 |
Observation issued on July-03-2009. |