The market regulator has cautioned investors against dealing in such securities, citing violations of law.
Were you one of the lucky ones who got their hands on Swiggy’s pre-IPO shares—trading at Rs 350 apiece in April—and made a killing when the startup finally listed on 13 November, hitting a high of Rs 465? While you may be patting yourself on the back, the market regulator frowns upon this practice. In fact, it could even be illegal.
Earlier this week, the Securities and Exchange Board of India said that certain electronic platforms and websites were flouting laws by enabling transactions of unlisted shares of public companies. These platforms, SEBI noted, are neither recognized nor authorised by …
Disha is a writer at The Morning Context. She has previously worked at the digital production desk of Reuters. Prior to that, she was a sub-editor at Deccan Herald.
Writer
disha@mailtmc.com
Bengaluru