Monday, May 19, 2008

Anu's Lab IPO - Option to withdraw application

Hello Friends,

Anu's Lab IPO got trouble due to some legal issues. Company published a letter to its investors giving the option to withdraw from the public issue because company failed to disclose a pending law suit in its Red Herring Prospectus. The law suit was files by Sunmoon Chemicals Pvt. Ltd in Nov 2007 and this case is still pending. Anu's lab failed to disclose this in its offer document.

Due to define rules by SEBI, Company has given an option to its investors to withdraw the application with in 10 days from May 16, 2008.

This may cause some delay in share allotment and refund for Anu's lab IPO. Investors who do not want to block their money may withdraw their IPO application in next 10 days.

For more detail and discussions about IPO withdrawal options visit:

Good Luck!