Sebi to distribute Rs 15 crore to investors in third tranche
In the current exercise, the regulator said it is distributing amounts to those investors to whom partial amounts were paid earlier and are entitled to receive additional amounts.
By ET Bureau | Updated:
Agencies
Mumbai: The Securities and Exchange Board of India(Sebi) on Thursday said it has initiated the third tranche for distribution of about ₹15 crore to 2.58 lakh investors from the recovered amount in the matter of initial public offer(IPO) irregularities.
In the current exercise, the regulator said it is distributing amounts to those investors to whom partial amounts were paid earlier and are entitled to receive additional amounts.
Sebi said 1.15 lakh investors out of 2.58 lakh investors would be paid full eligible amount and the remaining investors would be paid in part.
The regulator had investigated into certain irregularities in the shares issued through 21 IPOs during the period 2003-2005 before their listing on the stock exchanges.
Upon completion of the investigations, Sebi had directed certain persons to disgorge the illegal gains.
In the current exercise, the regulator said it is distributing amounts to those investors to whom partial amounts were paid earlier and are entitled to receive additional amounts.
Sebi said 1.15 lakh investors out of 2.58 lakh investors would be paid full eligible amount and the remaining investors would be paid in part.
The regulator had investigated into certain irregularities in the shares issued through 21 IPOs during the period 2003-2005 before their listing on the stock exchanges.
Upon completion of the investigations, Sebi had directed certain persons to disgorge the illegal gains.
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