Manage your Risk Fire Fighting Can Prove Costly
The Securities and Exchange Board of India unearthed yet another Initial Public Offering (IPO) scam in the public issue of shares of Infrastructure Development Finance Company (IDFC) Ltd.
The market regulator found that on August 8, 2005, one Roopalben Panchal received 266 shares each from 12,253 demat accounts aggregating to 32,59,298 shares and 532 shares each from four dematerialised accounts aggregating to 2,128 shares.
“Thus she had received a total of 32,61,426 shares in off market transactions from 12,257 dematerialised accounts,” Sebi said. The regulator further said that it would investigate registrar to the issue, Karvy.
As an encore to this, there was the IPO scam in IDFC and YES bank, which resulted in loss of Rs 320m (
Tags: demat accounts, Infrastructure Development Finance Company, manage risk, risk management, YES bank