Stock market regulator Securities and Exchange Board of India (SEBI) has kept processing of Barbeque Nation Hospitality’s proposed initial public offer (IPO) in abeyance “pending regulatory action for past violations”, the latest update with the markets regulator showed.

However, the SEBI did not clarify on whether violations have been committed by the company or related entities.

The company had filed draft papers with SEBI in August, seeking approval to float its IPO.

The proposed IPO of the firm, which operates Barbeque Nation restaurants, comprises fresh issue of shares worth up to ₹200 crore, besides an offer for sale of up to 61.79 lakh shares by promoters.

According to merchant banking sources, the public issue was expected to mobilise ₹700 crore.

Without disclosing the nature of violations, SEBI said it has kept the processing of IPO “in abeyance pending regulatory action for past violations”, according to the latest update as on September 29.

IIFL Holdings, Edelweiss Financial Services, Jefferies India and SBI Capital Markets have been appointed to manage the company’s public issue.