The Securities & Exchange Board of India (SEBI) has kept the initial public offering (IPO) of Adani Wilmar in abeyance.
The website of the capital market regulator showed that the Rs 4,500 crore issue has been “kept in abeyance”.
As per the SEBI (Issuance of Observations on Draft Offer Documents Pending Regulatory Actions) Order, 2020, issued by the SEBI on February 5, 2020, the regulator is obligated to keep issuance of observations in abeyance for a period of 30 days or 45 days or 90 days or more, as the case may be.
Adani Wilmar is a joint venture of Adani Group and Singapore’s Wilmar Group.
During the Monsoon session of the Parliament, Minister of State for Finance, Pankaj Chaudhary said that the SEBI is investigating some Adani group companies with regard to compliance with SEBI regulations while the Directorate of Revenue Intelligence is also probing certain entities under the laws administered by it.
However, the minister added that the Enforcement Directorate is not probing these companies.