Sebi seeks fresh clarification on Numero Uno's IPO
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Capital markets regulator Sebi has sought clarification from fashion and apparels brand Numero Uno regarding its proposed initial public offer (IPO).
Without disclosing the details of clarifications sought, Sebi has said that it is awaiting response from the Lead Manager for the proposed public offer of Numero Uno Clothing Ltd.
According to the latest weekly update on the processing status of draft offer documents filed with Sebi, the regulator has said clarifications were awaited on the IPO of the company as of June 5.
The next update would be uploaded on Sebi's website on June 12.
The capital market watchdog said it might issue observations on draft offer documents within 30 days, after receiving satisfactory reply from the lead merchant bankers regarding the clarification or additional information sought from them.
Numero Uno is a leading jeanswear brand.
The company filed its IPO papers with Securities and Exchange Board of India (Sebi) on April 30, this year.
As per the draft documents, Numero Uno's proposed public issue comprises fresh issue worth Rs 65 crore and an offer for sale up to 8.4 million shares from its promoter and AA India Development Capital Fund.
The proceed of the issue would be utilised for opening 84 new stores, expansion of the existing capacity at Selaqui, Dehradun, brand building and general corporate purposes.
The issue is being managed by merchant bankers -- Anand Rathi Advisors and Motilal Oswal Investment Advisors.
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