HDFC Asset Management Company’s (AMC), proposed IPO has been kept in abeyance by SEBI, for examination of past violations.

The company had filed the preliminary papers with SEBI in March, to float an IPO. The proposed IPO offers up to 2.54 crore equity shares of the company via an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares by Standard Life Investments.

Further, as per the latest update as on April 27, SEBI stated that it has kept the IPO papers “in abeyance for examination of past violations,” without disclosing the nature of violations.

Read EquityPandit’s Technical Analysis of Indian Stock Market