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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

SEBI initiates third tranche of distribution of disgorged / recovered amount to investors in the matter of IPO irregularities

24-Aug-2023 | PR No.18/2023

Securities and Exchange Board of India (SEBI) has issued a press release regarding the initiation of the third tranche of distribution of disgorged/recovered amounts to investors in the matter of IPO irregularities. The press release provides the following details:

SEBI has initiated the third tranche of distribution of Rs. 14.87 crore to 2.58 lakh investors from the disgorged/recovered amount related to IPO irregularities on August 17, 2023. This distribution is aimed at providing additional amounts to investors who had received partial payments earlier and are entitled to receive further amounts.

Out of the total number of investors, 1,15,465 investors will receive the full eligible amount, while the remaining 1,42,836 investors will receive a partial amount. SEBI is taking steps to credit the amount directly into the bank accounts of eligible investors for whom bank details are available. For investors whose bank details are not available, payment warrants are being sent to their last known addresses.

The list of eligible investors along with the amount to be credited or sent by SEBI is available on the SEBI website. Investors who have received credit intimation but haven't received the credit in their bank accounts or have other queries related to payment, revalidation, modification, etc., are advised to raise their queries by January 31, 2024.

Queries can be raised either at the office of the Facilitator Registrar ? TSR Consultants Private Limited or at the office of the Recovery and Refund Department, SEBI Bhavan II.

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