Street signs: Environmental 'troubles' for delay in PSU IPO

Investment banking sources say IPO may get pushed to next financial year

After the success of Cochin Shipyard, the Centre is planning to take another big state-owned shipbuilder Mazgaon Dock Shipbuilders public. The proposal, however, has run into rough weather with the Union environment ministry. Investment banking sources say the initial public offering (IPO) may get pushed to the next financial year due to the delay in the environment ministry’s nod. Cochin Shipyard IPO, too, faced similar delays. “It is unfortunate the IPO may not be able to cash in on the positive sentiment in the primary market due to intra-government procedural delay," said a banker.
 

Pavan Burugula

 
MFs nurse