 "IPO")
A feud in the promoter family of JM Baxi Ports and Logistics has disrupted the company’s proposed Rs 2,500-crore initial public offering (IPO), according to people in the know.
The company had laid the groundwork for filing its draft red herring prospectus (DRHP) last year, but it remains unclear when it will be able to present its listing plan to the market regulator, the sources said.
A detailed questionnaire sent to the company didn’t elicit any response.
Vir Kotak, a promoter of JM Baxi Group, recently sought intervention from the Bombay High Court in the acquisition of a stake in
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