IPO market comes to a temporary standstill as firms rush to update results

Temporary standstill in new issuances as companies rush to update their quarterly numbers

The initial public offering (IPO) market has come to temporary a standstill despite improvement in market liquidity and buoyancy in equities. Investment banking sources said a rule pertaining to disclosure of quarterly numbers has put several IPOs on hold. According to the regulatory framework, a company cannot launch an IPO if the quarterly results disclosed in the offer document are more than two quarters old. 

Sources said most companies that are sitting on regulatory approvals had filed their offer document with the Securities and Exchange Board of India (Sebi) based on their December 2017 numbers. Companies that were unable to hit