Monday, July 11, 2011

SEBI Order in the matter of Vaswani Industries Ltd IPO

SEBI has issued a press release in the matter of initial public offer of Vaswani Industries Ltd. Following are the highlights of the press release:

  • Vaswani Industries Ltd shall give withdrawal option to all the investors who have been allotted shares in the non-institutional investors category and the retail individual investors category.
  • Investors who apply in the withdrawal option shall enclose a Delivery Instruction Slip.
  • In the event of refund/withdrawal on the exercise of the withdrawal option by an investor, the Company may deduct the expenses incurred in connection with its IPO.
  • Rikhav Securities Limited is prohibited to act as a syndicate member/sub-syndicate member for all forthcoming issues.

Visit Vaswani Industries IPO page for more detail.