Market regulator Sebi is seeking clarification from the merchant banker of PNC Infratech Limited regarding the company's proposed initial public offer (IPO)
, according to reports.
Sebi also reported that it may issue observations on PNC Infratech's IPO
document within 30 days from the date of receipt of a satisfactory reply from the lead merchant banker, ICICI Securities, to the clarification.
The regulator had received the draft offer documents on September 25 through its lead manager, reports added.
As per Draft Red Herring Prospectus, tcompany plans to hit the capital markets with a public issue of over 1.29 crore equity shares of face value of Rs 10 each.