Markets regulator Sebi has sought clarifications from merchant bankers of 10 firms, including Lemon Tree Hotels and CMS Info Systems, regarding their proposed initial public offers (IPOs).
Together, these companies are estimated to raise more than Rs 6,000 crore, according to merchant banking sources.
The other companies are ACME Solar Holding, H G Infra Engineering, Apollo Micro Systems, Prince Pipes and Fittings, Newgen Software Technologies, Seven Island Shipping, Karda Constructions and Amber Enterprises, according to the latest update by Sebi.
Without disclosing details of clarifications sought, Sebi has said "clarifications (are) awaited from lead manager(s)" for the proposed public issues.
As per the latest weekly update of processing status of draft offer documents filed with it, the Securities and Exchange Board of India (Sebi) has said that clarifications were are on the proposed IPOs of these 10 companies.
The next update would be available on November 6.
Sebi said that it might issue 'observations' on these companies document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought.
The 'observations' from the regulator is necessary for any company to launch public offers.
All the 10 companies had filed their respective draft papers with Sebi last month.
The regulator had last received any communication from H G Infra Engineering on October 17, Lemon Tree Hotels (October 18) and Apollo Micro Systems (October 19). For the remaining seven firms, it last received such communications during October 25-27.
Going by current trends, the IPO segment is expected to see better performance in 2017 compared to last year, when 26 companies collectively mopped up more than Rs 26,000 crore -- making 2016 the best in six year.
So far this year, a total of 29 companies including BSE, General Insurance Corporation of India; Indian Energy Exchange; SBI Life Insurance Company; Matrimony.com and Reliance Nippon Life AMC have tapped the IPO route to raise funds.
In addition, a host of companies have lined up their IPO plans.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)