The capital markets regulator Securities Exchange Board of India (Sebi) has kicked off the third tranche of distribution of recovered amount to investors in the matter of IPO irregularities.
This is in reference to the irregularities in the shares issued through 21 initial public offerings (IPO) during the period 2003-2005 before their listing on the stock exchange.
The refund of money was prescribed under the procedure laid down by the Wadhwa committee. As per the committee’s recommendation, 13.57 lakh persons were identified as eligible investors for distribution.
As a matter of fact, Sebi has already distributed ₹23.28 crore in April 2010 and ₹18.06 crore in December 2015.
As a result, nearly 74 percent of investors have already been paid the entire eligible amount, whereas 97,657 investors were excluded due to the costs involved.
Now, Sebi has started the third tranche for distribution of ₹14.87 crore to 2.58 lakh investors from the recovered amount in the matter of IPO irregularities on Aug 17, 2023.
This time around, Sebi is distributing amounts to those investors to whom a part of sum has been paid earlier and are entitled to receive additional amount.
|Particulars||Number of investors|
|To be paid the entire sum||1,15,465|
|To be paid the partial sum||1,42,836|
|Total number of investors||2,58,301|
Out of 2,58,301 investors, 1,15,465 would be disbursed the entire eligible amount, while the remaining 1,42,836 would be paid in part.
The regulator is transferring the money directly to a bank account where bank details are available. On the other hand, where these details are not available, payment warrants are being sent to the last known address of the investors.
Those who are expecting the money to be transferred can look for their name and the amount to be received at the document uploaded by Sebi on its website.
Investors can check the document by clicking here.
The investors who have received credit intimation and have not received the credit in their bank account or have any other queries relating to payment, revalidation, may raise such queries before Jan 31, 2024 at email@example.com or firstname.lastname@example.org.