IHH unit withdraws IPO application in India

Agilus submitted its Draft Red Herring Prospectus on 29 September.

Agilus Diagnostics, an indirect subsidiary of IHH Healthcare, has aborted its plan for an IPO in the Securities and Exchange Board of India (SEBI).

In a bourse filing, IHH said its Agilus has received approval to withdraw its Draft Red Herring Prospectus (DRHP) submitted on 29 September for a proposed IPO process through an offer of sale.

IHH cited "commercial conditions" as the reason for the IPO cancellation.

"Agilus would be making the necessary application to SEBI for withdrawal of the said DRHP immediately and may re-file with SEBI again for a proposed IPO in future, subject to applicable laws," IHH said,

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