The capital markets regulator has returned Go Digit General Insurance’s initial public offering (IPO) filing. The documents were returned with comments on January 30, according to an update on the Securities and Exchange Board of India (Sebi) website. The company will have to resubmit the draft offer document if it intends to list.

Go Digit, backed by Canada-based Fairfax and cricketer Virat Kohli, has filed for a public offering on August 17, 2022. In September, regulators placed the company’s proposed sale on “hold” and sought clarification from investment bankers.

Sebi did not give any specific reason for returning the draft papers.

In a communication on Tuesday, Go Digit said the draft red herring prospectus had been returned, referring to a provision exempting rights conferred by employee stock option plans (ESOPs) to continue at the time of filing.

“The company is currently evaluating amendments to its employee share appreciation rights scheme and will resubmit its draft red herring prospectus to Sebi in due course,” Go Digit said in a statement.

It included a new issue of equity worth Rs 1,250 crore and an offer for sale (OFS) of 109.4 million shares by promoters and existing shareholders, the company’s initial filings showed.