Network18-backed TV and E-commerce company HomeShop18 has withdrawn $75 million IPO on the New York Stock Exchange,after the initial application, according to reports.
HomeShop18 reportedly said that that it is not proceeding with this offering since it is currently re-evaluating its capital raising strategy.
Earlier the company filed for a $75 million IPO on NYSE in April this year and had noted that it will not receive any proceeds from the sale of ordinary shares by Network18 Holdings Limited and other selling shareholders.
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