Sebi bars 30+ entities in RRP Semiconductor case after 725x surge

Regulator finds prima facie evidence of manipulation in RRP Semiconductor shares after a 725-fold surge over 19 months, names promoters and intermediaries

The Securities and Exchange Board of India (Sebi) has passed an interim order against over 30 entities, including promoters and market intermediaries, in connection with alleged manipulation in the shares of RRP Semiconductor, following an extraordinary 725-fold surge in the stock price over 19 months.

 

The regulator noted that the scrip of RRP Semiconductor — formerly known as GD Trading and Agencies — skyrocketed from ₹15 on April 2, 2024, to ₹10,887 on October 31, 2025. The sharp rise triggered a preliminary examination into potential violations of fraud and unfair trade practices norms.

 

Sebi's probe found prima facie evidence suggesting the involvement of multiple entities in creating artificial price movement and misleading market activity in the stock. The examination covered the period between April 2024 and October 2025.

 

 

The order names key individuals including Ramesh Mishra and Ira Mishra, along with several entities such as Multiplier Share & Stock Advisors and Pace Stock Broking Services. 

PropShare Celestia IPO subscribed 0.65x on Day 1 

The initial public offering (IPO) of PropShare Celestia was subscribed 0.65 times on the first day of bidding. The issue received bids for 1,509 units against 2,323 units on offer, according to stock exchange data. 

Sebi greenlights Vishal Nirmiti IPO 

The Securities and Exchange Board of India (Sebi) has granted approval to Vishal Nirmiti to launch its initial public offering (IPO). The offering comprises a fresh issue of ₹125 crore and an offer-for-sale (OFS) of up to 1.5 million shares by a promoter group entity. Vishal Nirmiti is engaged in the manufacturing of pre-stressed concrete (PSC) sleepers for railways.