Nykaa, Easemytrip bonus shares’ issue under Sebi scanner: Report

Spread the love

The Securities and Exchange Board of India (Sebi) may ask companies to allocate bonus and split shares to shareholders within a stipulated period, said a report on Thursday.

monocontrol The report came at a time heroine Issued bonus shares to pre-IPO investors before the end of the lock-in period to avoid the drop in share price that new tech firms have seen in the recent past.

Easemytrip’s board had approved and declared bonus shares in the ratio of 3:1 with stock split in the ratio of 1:2, due to which the share price increased by 40% in a short span of time (from Rs.48 to Rs.68).

Market players say some promoters in collusion with operators rigged the stock price during the window between the record date and the date on which the shares are allotted, the news portal published.

Shares of FSN E-Commerce Ventures (Nykaa) witnessed a dozen block deals on Tuesday, with Société Générale, BofA Securities, Morgan Stanley, Aditya Birla SL MF, ICICI Prudential Mutual Fund emerging as major buyers.

Source link

Spread the love

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.