Companies are repaying promoter’s loan by raising funds from IPO: Market regulator SEBI expressed objection, many IPO applications stuck.
Mumbai38 minutes ago copy link Securities Exchange Board of India i.e. SEBI has objected to the funds raised through Initial Public Offering (IPO) being used to repay the loan of the promoter or promoter group. Market regulator SEBI has asked many companies applying for IPO to change the purpose of using their IPO funds. Besides,…