Indira IVF withdraws IPO amid biopic release and regulatory scrutiny
Indira IVF withdraws IPO amid biopic release and regulatory scrutiny
Indira IVF Hospital Ltd., a prominent fertility clinic chain in India, recently withdrew its draft red herring prospectus (DRHP) for a ₹3,500 crore initial public offering (IPO). The company cited "evaluation of various factors and commercial considerations" for this decision. However, reports suggest that the timing of a Bollywood biopic about the company's founder, Dr. Ajay Murdia, may have influenced the Securities and Exchange Board of India (SEBI) to raise concerns about potential indirect promotion during the IPO process
The company initially filed its confidential IPO papers in February 2025. However, the release of the biopic "Tumko Meri Kasam," depicting Dr. Murdia's life, shortly after the IPO filing raised concerns about potential indirect promotion influencing investor sentiment. This led SEBI to question the timing of the film's release in relation to the IPO.
In response, Indira IVF withdrew its IPO papers on March 19, 2025, stating that the decision was based on various factors and commercial considerations. The company emphasized that there was no directive from SEBI regarding this action
