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Our Bureau

Coimbatore June 5 The Gujarat-based Adani group promoted infrastructure company Mundra Port and Special Economic Zone Ltd's public float may be delayed.

According to the Vice-President of MPSEZ, Mr Bhavin Shah, the IPO for which the company had already filed its red herring with the Securities and Exchange Board of India, would be delayed by two months or so.

The delay of the company's public issue is, according to him, more due to the market situation than anything else, considering the huge size of the float from an infrastructure company.

On SEBI restraining the Adani group promoters from accessing the securities market for two years, Mr Shah said the order was only against the promoters and not against the companies. "We are looking into this and exploring the legality of the issue," he said.

The IPO, which was slated for this month, may be postponed to either next month or August. MPSEZ had proposed to raise Rs 1,600 crore - Rs 1,900 crore from the capital market to be spent on its infrastructure projects at the Mundra Port based SEZ.

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