Pricing differences hold up Air Deccan IPO

New Delhi: Air Deccan will take a while longer to touch down on Dalal Street. Merchant banking sources say the initial public offering planned by the country’s first low-cost airline is likely to be delayed by a couple of months.
The maiden issue, earlier expected at the end of this month, has been caught up in differences over pricing. There was no agreement on price at a meeting between lead managers to the issue and the promoters on Wednesday, sources said.
A sub-committee formed by the airline — comprising Air Deccan officials and directors — is expected to meet in the next few days to take a final call on the matter.
10/03/2006 Sudipto Dey & James Mathews

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