Indira IVF Pulls Back IPO Plans Amid Bollywood Biopic Release

Indira IVF Hospital has opted to withdraw its draft IPO papers amid various strategic considerations and coinciding with the release of a Bollywood biopic on its founder. The confidential filing prompted inquiries by Sebi about potential self-promotion, raising concerns about undisclosed IPO details.

Indira IVF Hospital has decided to retract its draft IPO documentation owing to multiple strategic factors, coupled with the timing of a Bollywood biopic release about its founder, Ajay Murdia. The decision particularly aligns with Sebi's scrutiny concerning possible indirect self-promotion, especially since company details remained undisclosed.

The biopic featuring Anupam Kher and Esha Deol was released on March 21, just over a month after the confidential IPO filing. Despite approval from Sebi, the March 19 withdrawal of IPO papers coincided with public interest sparked by the film.

The confidential IPO filing route offers flexibility but does not compel a company to proceed with public trading. This approach, previously observed with companies like Tata Play and Swiggy, allows more time and leniency in share size adjustment without immediate pressure for public issuance.

(With inputs from agencies.)