One97 Communications delays IPO further
Friday, 10 December 2010
MUMBAI, Dec 9 (Reuters): Telecom value-added services provider One97 Communications Ltd has further delayed its initial public offering (IPO) to raise as much as 1.2 billion rupees, said two sources close to the development.
Earlier, the company had already delayed its IPO to Dec 13 from Dec 1 due to the same reason.
"The market is a bit more volatile than we expected when we postponed it last time. So we would like to postpone it by a couple of weeks ahead and now we have almost reached the year-end, which means we will open it in the new year now," a company source said.
Earlier, the company had already delayed its IPO to Dec 13 from Dec 1 due to the same reason.
"The market is a bit more volatile than we expected when we postponed it last time. So we would like to postpone it by a couple of weeks ahead and now we have almost reached the year-end, which means we will open it in the new year now," a company source said.