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According to investment bankers, there were some technical issues with the draft papers and Sebi requested the company to make necessary revisions. As a result, the company decided to withdraw and refile the DRHP, they said. "The withdrawal of the DRHP has nothing to do with the weak secondary market. The company is expected to submit the revised DRHP within a month," said one of the bankers.
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The platform wants customers to go 'green' as it tries to boost the take-up of electric cars.
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The agreement will put an end to a saga that started when the firm went bankrupt in November 2022.
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