SEBI still to give approval to the IPOs of Oyo, Droom, Lava

14 Sep 2022 , 10:02 AM

The stock market regulator reports that six businesses have yet to receive permission for their initial share sale plans after filing the draft paperwork roughly a year ago.

Draft papers were submitted by Lava International, BVG India, and Oyo parent Oravel Stays approximately a year ago, while Droom Technology submitted them 11 months ago. The Securities and Exchange Board of India received the materials 10 months ago from Snapdeal and Protean eGov Technologies.

The draft documents for an IPO are typically approved by SEBI in two to three months.

SEBI stated that it has requested comments from other regulators or authorities in the cases of Lava International and BVG India. The regulator stated that it is expecting more explanation from the chief management of the other companies.

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