Indian IPO

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Tuesday, March 23, 2010

StanChart gets nod to file draft IPO prospectus: Sources

Standard Chartered has received approvals to file its draft red herring prospectus with the Securities Exchange Board of India (SEBI), sources told CNBC-TV18. The bank has also received approval from the Reserve Bank of India.

However, Standard Chartered's board is yet to decide when to file its draft red herring prospectus and the quantum of fund raising.

On March 3, Jaspal Bindra, Standard Chartered's Asia CEO, told Reuters that Standard Chartered Plc expects to list in Mumbai in the first half of this year.

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