India

India

Scrutiny of IPO "routine" says Suzlon

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An enquiry by India's ministry for corporate affairs into Suzlon's Initial Public Offering (IPO) is a matter of "routine" to ensure funds have been used correctly, says the company. The investigation is one of more than 15 being conducted into IPOs in the past three years. These include Reliance Petroleum, Mahindra & Mahindra, Deccan Aviation, Biocon and Jet Airways. The ministry says it wants to ensure investor interest is protected at a time when the market is hitting new highs.

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