Kathmandu. The Securities Board of Nepal (SEBON) has said that it cannot approve the IPO of 76 companies, including two micro insurers.
The Securities Board of India (SEBON) has issued a notice informing that the IPOs of these companies cannot be approved. There are companies in various sectors that cannot be approved in this way.
The Securities Board of India (SEBON) has said that it cannot grant IPO approval to these companies as they have not been able to meet the regulatory provisions. The Securities Board of India (SEBON) has made it clear that the IPO approval will not be granted until the companies comply with the necessary documents, details and prospectus, as well as the prescribed legal provisions and regulatory standards.
There are 76 companies, including Star Micro Insurance and Liberty Micro Life, which have not met the criteria for IPO approval. Both these companies have sought permission from the Securities Board of India (SEBON) to float a total of 22.5 lakh units of shares at a face value of Rs 100.
Here are the criteria for IPO approval
- To ensure that there is no conflict of interest including financial and managerial aspects of the issuing company while issuing securities, to submit an application to the Securities Board only after an objective study.
- Regarding the application received by the Board for Initial Public Issue, FY 2082. Meet the financial criteria set by the Securities Board on the basis of the audit report of 83 (financial statements certified by the auditor in case the audit is not completed) and submit a compliance report.
Conduct at least TAG_OPEN_li_19 one financial literacy program a month.
Similarly, the Securities Board of India (SEBON) has asked 41 more companies in the pipeline to proceed with the necessary process for IPO approval. A source at the Securities Board of India (SEBON) said that a letter has been sent to these companies asking them to submit the necessary documents.
ipopipeline
