Edelweiss Financial Services has informed that the Securities & Exchange Board of India vide an Adjudicating order dated March 31, 2016, in the matter of Initial Public Offer of Electrosteel Steels (IPO) has imposed a penalty of Rs 1 crore, which all the Merchant Bankers to the said IPO are liable to pay jointly and severally.
The above information is a part of company’s filings submitted to BSE.