Private Equity Company Milestone-Capital Has Withdrawn Its DRHP

Milestone CapitalPrivate equity company Milestone-Capital has withdrawn its DRHP (draft red herring prospectus), that it had filed with Securities and Exchange Board of India for its IPO. The firm in a statement mentioned, “The board of Milestone Capital Experts has taken a determination to withdraw the draft red herring prospectus , and will begin this procedure again at an suitable time.”

There were information last week that Securities and Exchange Board of India had taken doubt that the Initial public offering might expose small investors to excessive risk.

The company had filed its draft red herring prospectus with Securities and Exchange Board of India in June last yr. The firm was intending to provide 42.85 lakh stocks via the issue, which is 30percent of its post issue paid up capital.

Milestone Capital would be the 2nd firm this month to have withdrawn its ipo public issue. Great-Eastern Shipping’s subsidiary, Greatship had withdrawn its Initial public offering because of the “prevailing market situations”.

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