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By M.
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MUMBAI, Sept 30 (Reuters) - India's markets regulator will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance
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The Securities and Exchange Board of India (SEBI) put Canadian billionaire Prem Watsa-backed Digit
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The prospectus filed by the company last month showed the IPO will consist of new shares worth 12.5 billion Indian rupees ($158 million) while
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(Reporting by M. Sriram and Aditya Kalra. Editing by Jane Merriman)
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*
Regulator accepted explanation on share allotment
*
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*
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bln
By M.
Sriram and Aditya Kalra
MUMBAI, Sept 30 (Reuters) - India's markets regulator will restart a review of a $440 million initial public offering of Digit Insurance after the company resolved certain compliance
issues that had led to the regulator putting the process on hold,
two sources told Reuters on Friday.
The Securities and Exchange Board of India (SEBI) put Canadian billionaire Prem Watsa-backed Digit
Insurance IPO's in "abeyance" earlier this month, saying certain observations had been issued, but did not elaborate.
Reuters has previously reported that the regulator was
concerned that privately-held Digit issued shares to more than 200 individuals in the past financial year, which is not allowed under Indian laws and regulations.
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share issue, which the company said did not violate the
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