IOT Infrastructure IPO : Deferred Rs 800 crore IPO to March

by khalid on 10/01/2011 · 0 comments

IOT Infrastructure and Energy Services is an oil EPC firm promoted by Indian Oil Corporation (IOC). Turbulent market conditions have forced the company to deferred the timing of its Rs 800 crore IPO by March.

The company has all the permissions of SEBI to launch its Initial Public Offer (IPO) but due to the choppy market conditions its constrained the issue. The company is ready for the issue but the market is very turbulent. But the company is confident to launch the IPO before March.

The company will not compromise on valuations in order to entice investors and launch the initial public offer (IPO) early. IOT Infrastructure have waited for ten years for good valuations and will not lower our valuation. The company had filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI for the IPO in September last year which entails marginal divestment by its existing owners and issue of fresh shares.

It was initially reported that the company will hit the market by January-end.

Post-IPO, IOC and the German firm’s stake in the company will drop to 37.5% each, while the general public will hold the remaining 25% in compliance with SEBI directive on shareholding.

Stay tuned to BelltheBull Blog for more news on IOT Infrastructure IPO !

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