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InGovern: Sebi must force Sterling & Wilson to give exit option to minority shareholders

Updated : January 10, 2020 11:33 AM IST

Sterling & Wilson through its IPO had raised Rs 2,850 crore via an offer for sale or OFS route.
According to the note written by InGovern, the non-fulfilment of obligations by promoters has resulted in a loss of 60 percent in the investment value for all the IPO investors.
Sebi (ICDR) Regulations allow dissenting shareholders to be provided with an exit offer by the promoters, in the case where there is a change in the object of the issue/offer in the IPO prospectus.

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