The initial public offering plans of Indira IVF Hospital Ltd, Star Agriwarehousing and Collateral Management Ltd and WeWork India Management Ltd have hit a regulatory wall.
Indira IVF, the fertility clinic chain controlled by Swedish private equity firm EQT, has withdrawn its draft red herring prospectus for its planned IPO, according to an update by the Securities and Exchange Board of India.
The capital markets regulator didn’t specify why Indira IVF withdrew its papers. The company, which confidentially filed for the IPO in February, couldn't be immediately contacted for comment.
EQT had acquired a controlling stake in Indira IVF from TA Associates and its founders in July 2023 for over $1 billion.
Meanwhile, SEBI has returned the draft IPO documents of Star Agriwarehousing, which offers services including procurement, trade facilitation, warehousing, collateral management, and financing solutions.
The company had filed its draft papers in December for an IPO that involved a proposal to issue fresh shares worth Rs 450 crore and an offer for sale by Singapore state investment firm Temasek and other shareholders.
Besides, the regulator has kept in abeyance the IPO application filed by co-working space provider WeWork India. The Embassy Group-controlled India franchisee of US-based WeWork had filed its IPO papers in February.
According to the draft papers, Embassy Group and a WeWork Inc entity planned to offload their stakes in the offering and the company wasn't planning to sell any new shares.
