The midcap stock touched an intra day low of 258.70, down 6.29% compared to the previous close of 276.05 level on the BSE.

Both solar and wind tariffs have fallen steeply in recent years, but excessive emphasis on lowering tariffs is now threatening India's renewable energy success story.

\"Medical cost inflation after the rupee devaluation in 2018 and emerging price controls on procedures and implants will continue to be in the range of 20 per cent to 24 per cent in 2019.\"

The company, which competes with rival Ola in India and other international markets, had posted a total revenue of Rs 1.04 crore in 2016-17.

The BJP-led NDA continues to shy away from the outright sale of bluechip state firms to the private sector in the present regime

The company said it filed its draft red herring prospectus (DRHP) towards the end of September when the markets were doing well. However, with the IPO markets entering a 'wait-and-watch' mode, the firm has decided to explore the IPO at a later stage.

Acharya Balkrishna said that they are currently occupied with new projects and that they don't have the time and resources to put in on Kimbo any further.

The IPO includes fresh issue aggregating up to Rs 250 crore besides an offer for sale of up to 42,403,271 shares by existing shareholders including Tata Capital Financial Service and TPG Asia.