Just a day before Shopper8217;s Stop 8212; a retail firm 8212; was set to launch its IPO, the Shillong bench of Guwahati High Court has stayed the it on a petition from a Shillong-based investors8217; forum.
8216;8216;We just received a call from Sebi, which has asked us to stay the IPO,8217;8217; B.S. Nagesh, CEO of Shopper8217;s Stop, told this newspaper on Tuesday evening. 8216;8216;We are rushing to Shillong tomorrow morning to plead our side to the court,8217;8217; he added. Nagesh said he was unaware on what grounds the investors8217; forum has sought to stay the issue.
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