Capital markets regulator Sebi on Thursday said it has initiated the third tranche of distribution of nearly Rs 15 crore to 2.58 lakh investors from the disgorged amount in the matter of IPO irregularities observed during 2003-2005.
The regulator has already distributed Rs 23.28 crore in April 2010 and Rs 18.06 crore in December 2015, according to a release.
The capital markets watchdog has been distributing funds among eligible investors from the money collected by it through disgorgement orders in cases of irregularities in the Initial Public Offerings (IPO).
The regulator had investigated certain irregularities in the shares issued through 21 IPOs during the period 2003-2005 before their listing on the stock exchanges. Following the completion of the investigations, the Securities and Exchange Board of India (Sebi) directed certain persons to disgorge the illegal gains.
Under the chairmanship of former Judge of the Supreme Court of India D P Wadhwa, a committee was set up which
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