Family dispute puts spanner in the works for JM Baxi Rs 2500-cr IPO

The tussle between the promoter family of JM Baxi Ports and Logistics has thrown a spanner in the works for the ports and logistics giant’s proposed Rs 2,500 crore initial public offering (IPO), say people in the know.

Sources said the company had set the stage for filing its draft red herring prospectus (DRHP) last year. However, there is no clarity as to when the company can now approach the market regulator with its listing plan.