On March 27, Indira IVF made the significant decision to withdraw its much-anticipated Initial Public Offering (IPO) amid concerns raised by the Securities and Exchange Board of India (SEBI). The regulator flagged the film ‘Tumko Meri Kasam’ for allegedly promoting the IVF firm, questioning the timing of its release, which coincided with the company’s efforts to attract investors for its IPO.
Controversy Surrounding the Film’s Release
Produced by Indira Entertainment, the movie features the sons of Dr. Ajay Murdia, the founder of Indira IVF, as producers. The film, directed by Vikram Bhatt, hit theaters on March 21 and stars notable actors like Anupam Kher, Adah Sharma, Esha Deol, and Ishwak Singh. The storyline chronicles Dr. Murdia’s journey to normalize In Vitro Fertilization (IVF), including the legal hurdles he faced along the way.
- Release Date: March 21
- Notable Cast: Anupam Kher, Adah Sharma, Esha Deol
- Box Office Performance: ₹65 lakh
Despite the film’s intentions, it received a mixed bag of reviews, with many critics appreciating Kher’s performance, but overall, it fell short at the box office, closing shortly after its debut weekend.
Indira IVF’s Response
In light of SEBI’s allegations, Indira IVF issued a statement through a representative, clarifying that the decision to retract their Draft Red Herring Prospectus (DRHP) was based on a comprehensive evaluation of various factors. The company has not yet confirmed if it will revisit its IPO plans in the near future.
This withdrawal comes against the backdrop of an IPO market that is currently experiencing a slow start in the new financial year (FY26), with no new public offerings recorded in the first week. However, there is optimism for upcoming small and medium enterprise (SME) IPOs, as four are set to launch soon.
Looking Ahead
As the market anticipates renewed IPO activity later in the year, larger companies are also preparing to enter the public arena. The situation remains fluid, and investors will be watching closely to see if Indira IVF and other firms can successfully navigate these challenges.
- Upcoming IPOs: Four SME IPOs expected soon
- Market Outlook: Anticipated increase in IPO activity later in the year
For more insights on the evolving IPO landscape, check out our articles on the latest IPO updates and market analysis.
