Regulator bars 39 entities for alleged manipulation of RRP Semicon share worth
The regulator mentioned the inventory has risen over 700 instances in simply 19 months. It mentioned the corporate’s shares rose from ₹15 in April 2024 to ₹10,887 by October 2025, a surge that was not supported by its financials or enterprise fundamentals.
Throughout its investigation, Sebi noticed that there was a coordinated community of promoters, preferential allottees, off-market transferees and a set of buying and selling entities, who artificially inflated the share worth of RRP Semiconductor.
The regulator mentioned the scheme seems to have commenced with the acquisition of management of the corporate by Ira Mishrathe daughter of Ramesh Mishra, who was subsequently appointed as a director within the firm. This was adopted by a major improve within the share capital of RRP by means of preferential allotment of shares to pick entities.
The first beneficiary of the allotment was one Rajendra Chodankarwho holds 74.5% of the share capital of RRP submit allotment. Sumita Mishra, spouse of Ramesh Mishra, was additionally a preferential allottee. Of the remaining preferential allottees, three have been introduced in by Ramesh Mishra and the remainder byChodankar, it mentioned.
The preferential allotment was accompanied by the corporate altering its MoA and altering its identify to “RRP Semiconductor”, apparently to showcase its future forays into the promising semiconductor area. Concurrently, the general public shareholding (a small a part of which was in demat mode) was fragmented and distributed by means of a sequence of off-market transfers to a number of entities in small portions, Sebi mentioned in its order.
“The off-market transferees subsequently offered shares of RRP in minuscule portions, largely to entities that constantly positioned massive purchase orders at higher circuit limits and contributed considerably to the overall market constructive LTP. The buying and selling sample, characterised by insignificant promote portions and aggressive purchase orders at circuit limits, is prima facie not reflective of real market behaviour, however indicative of a pre-arranged and manipulative technique to artificially inflate the worth of the scrip of RRP,” Sebi whole-time member Amarjeet Singh mentioned in his order.
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