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

Photo: Mint

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.

Lavasa’s management had earlier said it would likely launch the IPO during the September quarter this fiscal year.

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