PROCESSING STATUS OF DRAFT OFFER DOCUMENTS FILED WITH SEBI PRIOR TO APRIL 1, 2007

 

(Status as on May 01, 2009)

 

1.            SEBI (Disclosure and Investor Protection) Guidelines, 2000 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(a) In terms of the Guidelines, SEBI may issue observations on a draft offer document filed with it within 30 days from the date of receipt of such draft offer document.

 (b) If any additional information/clarification is sought by SEBI in relation to the draft offer document from the merchant banker(s), SEBI may issue such observations within 15 days from the date of receipt of satisfactory reply from the merchant banker(s).

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/noticee(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.            SEBI issues observations only after receiving copy of in-principle approval from all stock exchanges on which the issuer intends to list its securities offered through the offer document.

5.            If any reference is made by SEBI to other agencies in relation to any draft offer document, SEBI may await comments from such agencies before issuing observations on the draft offer document.

6.            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) = 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

Further Public Offer (F) = Public offer by a listed company through issue of shares

FPO (F + 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) = 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.

7.            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.

8.            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.

9.            Given below is the processing status of draft offer documents filed with SEBI prior to APRIL 1, 2007. The status is May 01, 2009.

Sr. No.

Issuer company

Coordinating LM (Pre-issue)

Type of Issue

Draft OD receipt date

Processing Status

 

 
 

1

Market Creators Limited

Inter Corporate Financiers & Consultants Limited

28-Aug-06

Rights

File has been closed since the Lead Manager has failed to respond to any of SEBI’s letters Seeking clarification after giving adequate time. The Lead Manager has been informed about the closure of the file.

 

2.     

Essel Shyam Communication Limited

Keynote Corporate Services Limited

29-Sep-06

IPO

(Fresh)

Withdrawn vide letter dated March 03, 2008

 

3.     

MBL Infrastructures Limited

Microsec Capital Limited

4-Oct-06

IPO

(Fresh)

Withdrawn vide letter dated September 20, 2007

 

4.     

Allied Computers International (Asia) Limited

CIL Securities Limited

28-Nov-06

IPO

(Fresh)

Observation issued on July 23, 2007.

 

5.     

Kaushalya Infrastructure Development Corporation Limited

SREI Capital Markets Limited

6-Dec-06

IPO

(Fresh)

Observation issued on August 31, 2007.

 

6.     

Barak Valley Cements Limited

UTI Securities Limited

22-Dec-06

IPO

(Fresh)

Observation issued on August 03, 2007.

 

7.     

Shaily Engineering Plastics Limited

Centrum Capital Limited

22-Dec-06

Further Public Offer (F)

Withdrawn vide letter dated September 18, 2007

 

8.     

Circuit Systems (India) Limited

Centrum Capital Limited

3-Jan-07

IPO

(Fresh)

Observation issued on June 29, 2007.

 

9.     

Refex Refrigerants Limited

Keynote Corporate Sevices Limited

15-Jan-07

IPO

(Fresh)

Observation issued on June 29, 2007.

 

10.   

Supreme Infrastructure India Limited

Karvy Investor Services Limited

15-Jan-07

IPO

(Fresh)

Observation issued on July 26, 2007.

 

11.   

Titagarh Wagons Limited

Kotak Mahindra Capital Company Limited

16-Jan-07

IPO

(Fresh + Ofs)

Withdrawn vide letter dated July 9, 2007

 

12.   

Kapil Cotex Limited

Aryaman Financial Services Limited

19-Jan-07

RI

(Rights Issue)

Withdrawn vide letter dated May 22, 2008.

 

13.   

VBC Ferro Alloys Limited

SBI Capital Markets Limited

22-Jan-07

RI

(Rights Issue)

 Withdrawn vide letter dated November 17, 2007.

 

14.   

Gloster Jute Mills Limited

Microsec Capital Limited

29-Jan-07

RI

(Rights Issue)

Observation issued on May 16, 2007.

 

15.   

Manaksia Limited

ICICI Securities Limited

29-Jan-07

Further Public Offer (F)

Observation issued on November 27, 2007

 

16.   

Kolte-Patil Developers Limited

DSP Merrill Lynch Limited

5-Feb-07

Public Issue Book Built

Observation issued on September 04, 2007

 

17.   

IT People (India) Limited

Khandwala Securities Limited

15-Feb-07

Further Public Offer (F)

Observation issued on July 09, 2007.

 

18.   

Khaitan Weaving Mills Limited

Aryaman Financial Services Limited

23-Feb-07

RI (Rights Issue)

Observation issued on October 19, 2007.

 

19.   

Magnum Ventures Limited

SREI Capital Markets Limited

23-Feb-07

IPO

(Fresh)

Observation issued on July 9, 2007.

 

20.   

 

Mundra Port & Special Economic Zone Limited

DSP Merrill Lynch Limited

6-Mar-07

IPO

(Fresh)

Observation issued on October 12, 2007.

 

21.   

Manjeera Constructions Limited

Fortune Financial Services India Limited

9-Mar-07

RI

(Rights Issue)

Observation issued on July 19, 2007.

 

22.   

Federal-Mogul Goetze (India) Limited

Ambit Corporate Finance Private Limited

9-Mar-07

RI

(Rights Issue)

Observation issued on July 27, 2007.

 

23.   

Rathi Bars Limited

Chartered Capital and Investment Limited

12-Mar-07

IPO

(Fresh)

Observation issued on September 04, 2007

 

24.   

Kanpur Plastipack Limited

Vivro Financial Services Limited

16-Mar-07

RI

(Rights Issue)

Observation issued on June 27, 2007.

 

25.   

Man Infraconstruction Limited

Kotak Mahindra Capital Company Limited

20-Mar-07

IPO

Observation issued on May 28, 2008.

 

26.   

GTL Infrastructure Limited

Edelweiss Capital Limited

20-Mar-07

RI (Rights Issue)

Observation issued on July 06, 2007.

 

27.   

GSS America Infotech Limited

Religare Securities Limited

21-Mar-07

IPO(Fresh)

Observation issued on November 21, 2007.

 

28.   

Dhanus Technologies Limited

SREI Capital Markets Limited

23-Mar-07

IPO(Fresh)

Observation issued on June 28, 2007.

 

29.   

Kaveri Seed Company Limited

Anand Rathi Securities Limited

28-Mar-07

IPO(Fresh)

Observation issued on July 02, 2007.

 

30.   

M.S. Khurana Engineering Limited

UTI Securities Limited

30-Mar-07

IPO(Fresh)

Withdrawn vide letter dated January 23, 2008.

 

31.   

Veena Industries Limited

SPA Merchant Bankers Limited

30-Mar-07

IPO(Fresh)

Observation issued on September 26, 2007.

 

32.   

Network 18 Fincap Limited

ICICI Securities Limited

30-Mar-07

RI (Rights Issue)

Withdrawn vide letter dated July 10, 2007

 

33.   

HFCL Infotel Ltd. (HIL)

 

KJMC Global Market (india) Ltd.

 

23-Dec-2005

Offer For Sale

Issue closed. Since LM did not file relevant information within prescribed timeframe. Intimation sent to LM vide letter dated April 27, 2009.