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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, the Securities and Exchange Board of India has said that it is awaiting response from ‘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 company’s IPO as of June 5.
The next update would be uploaded on SEBI’s Web site on June 12.
The capital markets watchdog said it might issue observations on the 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 had filed its IPO papers with 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 84 lakh from its promoter and AA India Development Capital Fund.
Proceeds 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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