Market regulator SEBI on Wednesday passed interim ex-parte orders against seven recently listed IPO companies based on the findings of preliminary investigations on receipt of information of irregularities from various sources.
The preliminary investigations was carried out by Prashant Saran, whole time member, SEBI against PG Electroplast, Brooks Laboratories, RDB Rasayans, Taksheel Solutions, Tijaria Polypipes, Onelife Capital Advisors and Bharatiya Global Infomedia.
The preliminary investigations was focused on adequacy, accuracy and completeness of disclosures made in the offer document by the company and standards of due diligence carried out by the merchant banker; Misutilization/diversion of funds, if any, from the IPO proceeds by the company; Possible violations in relation to the bidding/trading pattern in the shares of the company on the day of listing and immediately thereafter and other consequential or related matters.
1. PG Electroplast
Shares of the company declined Rs 32.55, or 17.06%, to trade at Rs 158.20. The total volume of shares traded was 26,096 at the BSE (11.06 a.m., Thursday).
2. Brooks Laboratories
Shares of the company declined Rs 0.95, or 6.44%, to trade at Rs 13.80. The total volume of shares traded was 67,894 at the BSE (11.08 a.m., Thursday).
3. RDB Rasayans
Shares of the company declined Rs 0.46, or 4.95%, to trade at Rs 8.84. The total volume of shares traded was 2,415 at the BSE (11.08 a.m., Thursday).
4. Taksheel Solutions
Shares of the company declined Rs 0.7, or 4.73%, to trade at Rs 14.10. The total volume of shares traded was 54,706 at the BSE (11.09 a.m., Thursday).
5. Tijaria Polypipes
Shares of the company declined Rs 0.5, or 4.93%, to trade at Rs 9.64. The total volume of shares traded was 17,576 at the BSE (11.00 a.m., Thursday).
6. Onelife Capital Advisors
Shares of the company declined Rs 33.3, or 13.7%, to trade at Rs 209.80. The total volume of shares traded was 363,977 at the BSE (11.10 a.m., Thursday).
7. Bharatiya Global Infomedia
Shares of the company declined Rs 0.93, or 9.89%, to trade at Rs 8.47. The total volume of shares traded was 32,664 at the BSE (11.12 a.m., Thursday).