India: Realty firm Lavasa fails to follow on IPO plans, lets approval lapse a second time

Lavasa Corp. Ltd, the real estate arm of engineering company Hindustan Construction Co. Ltd (HCC), has let its initial public offering (IPO) approval lapse for a second time. On 10 November last year, the markets regulator approved Lavasa’s application to raise capital via a primary issue The company was looking to raise Rs.750 crore to expand its real estate business.