New Delhi, March 28 (PTI): The Securities and Exchange Board of India (Sebi) has put Data Access (I) Ltd’s initial public offering of Rs 100 crore, slated to open tomorrow, on hold. The regulator has sought clarification on various issues like payment to BSNL and inflow of foreign equity in the company.

“It is nothing but nasty corporate warfare. We have disclosed all information in our prospectus and we hope that Sebi will give the clearance soon,” said Sidartha Ray, managing director.

He, however, said that postponement of the IPO would not affect the company’s plans like extention of network and repayment of loans.

Terming the move as “motivated”, Ray said the company was unable to contact the individual who had approached Sebi alleging that Data Access concealed crucial information related to payment to BSNL and foreign equity flow in the company in its prospectus.

He said the company has already paid Rs 84 crore to BSNL in January this year and the documents in this regard would be forwarded to Sebi shortly.