India: Market regulator keeps RBL Bank IPO on hold due to past violations

Visual from website.

RBL Bank Ltd’s initial public offering (IPO) remains enmeshed in regulatory issues with the capital markets watchdog saying in its latest communication that the share sale had been “kept in abeyance due to past violation by the company”.

RBL Bank applied to the Securities and Exchange Board of India (Sebi) on 25 June 2015, seeking to raise Rs.1,100 crore through an IPO. The lender is yet to receive clearance. In its weekly updates, Sebi has maintained that the IPO is under consideration and that past violations are being examined.

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