Haldia Petro IPO unlikely this fiscal

The initial public offer (IPO) of Haldia Petrochemicals (HPL) is unlikely to hit the capital market this financial year.

HPL was supposed to submit the draft prospectus to Sebi, but has not been able to do so as yet, officials said.

Asked whether the delay in floatation would have any impact on equity restructuring of the company as the public issue was an integral part of the corporate debt restructuring package, they said: "We will keep all the stakeholders informed about this," and added that the management was trying its best to come out with the IPO as early as possible.