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. |