GoAir to Mobikwik: IPOs worth Rs 32,881 cr ‘to expire’ by Dec-end

Public offers worth Rs 32,881 crore in India are set to expire at the end of December 2022. As API Holdings decided to call off the initial public offering (IPO) of its pharma delivery brand, Pharmeasy, it has come to light that 27 such companies will have to file a new draft red herring prospectus (DRHP) with the Securities Exchange Bank of India (SEBI) if they fail to launch an IPO in the next 4 months, Mint newspaper reported.

According to rules, a company is required to launch an IPO within 12 months of approval by the SEBI. During the pandemic, it was extended by six more months. However, the time period is back to being 12 months now.

The IPO of GoAir will be the first one to expire. The IPO, which was aimed to raise Rs 3,600 crore, will expire on August 26. The company has not announced any date for the launch of the IPO as of August 22.