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Sebi puts Fairfax Group-backed Go Digit’s IPO in ‘abeyance’
Capital markets regulator Sebi has kept in "abeyance" the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd.
However, the Securities and Exchange Board of India (Sebi) did not clarify further.
Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17.
Cricketer Virat Kohli and his wife Anushka Sharma are among the investors in the firm.
Going by the draft papers, the company's proposed initial public offering (IPO) comprised fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale of 10.94 crore equity shares by a promoter and existing shareholders.
Proceeds from the fresh issuance were to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes.
Without disclosing the reason, Sebi said "issuance of observations (has been) kept in abeyance" with regard to the IPO of Go Digit, an update on the regulator's website sh
