The Securities & Trade Board of India (SEBI) has stored the preliminary public providing (IPO) of Adani Wilmar in abeyance.
The web site of the capital market regulator confirmed that the Rs 4,500 crore problem has been “stored in abeyance”.
As per the SEBI (Issuance of Observations on Draft Provide Paperwork Pending Regulatory Actions) Order, 2020, issued by the SEBI on February 5, 2020, the regulator is obligated to maintain issuance of observations in abeyance for a interval of 30 days or 45 days or 90 days or extra, because the case could also be.
Adani Wilmar is a three way partnership of Adani Group and Singapore’s Wilmar Group.
Throughout the Monsoon session of the Parliament, Minister of State for Finance, Pankaj Chaudhary mentioned that the SEBI is investigating some Adani group firms with regard to compliance with SEBI rules whereas the Directorate of Income Intelligence can also be probing sure entities below the legal guidelines administered by it.
Nevertheless, the minister added that the Enforcement Directorate will not be probing these firms.
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