Adani Wilmar, which is a joint venture between Adani Enterprises and Wilmar Group, had filed its draft red herring prospectus with SEBI earlier this month for Rs 4,500 crore offering.
The Minister of State for Finance had told the Parliament that the capital market regulator was investigating certain entities of Adani Group over violation of disclosure norms.
Under SEBI rules, a related entity of a company under investigation by the regulator cannot get approval for an IPO for 90 days, which can be extended by another 45 days.
Adani Enterprises is under investigation of the capital market regulator due to issues related to violation of SEBI’s disclosure norms and certain foreign portfolio investors registered in Mauritius.
The Minister of State for Finance had told the Parliament in the recently concluded monsoon session that the capital market regulator was investigating certain entities of Adani Group over violation of disclosure norms.
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