New Delhi: Markets regulator Sebi has put the proposed initial public offer (IPO) of Sterlite Electric Ltd on hold, according to an update on the watchdog’s website on Monday. Sebi, however, has not disclosed the reason for placing the IPO in abeyance. The company, part of the Vedanta Group, had filed its draft red herring prospectus (DRHP) with Sebi in early October.

The proposed IPO comprised a fresh issue of 77.9 lakh equity shares and an offer for sale (OFS) of an equal number of shares by the promoter and existing shareholders, according to the draft papers.........

© News9Live