Bharat Hotels is going slow on its maiden issue plan following the recent volatility in the equity markets.
The company had filed its draft red herring prospectus on March 23, 2006, with the Securities and Exchange Board of India (Sebi).
Lalit Suri, chairman and managing director, said he was waiting for clearances from Sebi.
He, however, said the firm would adopt a wait-and-watch attitude before hitting the market.
Suris outlook could be justified by the weak response generated by IPOs of those companies that got listed around May 18, the day the Sensex plummeted 826 points (6.76 per cent) to close at 11391.
Air Deccan had to extend its IPO deadline by three days and slash the lower limit of its price band to Rs 147 from Rs 150-175.
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