GMM Pfaudler Ltd.: Ahead of OFS, Sebi initiates insider trading probe in GMM Pfaudler shares

GMM Pfaudler Ltd.: Ahead of OFS, Sebi initiates insider trading probe in GMM Pfaudler shares

GMM Pfaudler Ltd.: Ahead of OFS, Sebi initiates insider trading probe in GMM Pfaudler shares
Read Time:6 Minute, 21 Second

Sebi has asked the stock exchanges to provide five years of trading data on GMM Pfaudler, which in August bought into the global parent.

Synopsis

Large quantities of shares were borrowed from the Securities Lending and Borrowing or SLB segment and sold in the market a few days before the OFS announced September 21 at 33% discount to the prevailing market price.

MUMBAI: Market regulator Sebi has initiated a probe into alleged insider trading in the shares of GMM Pfaudler ahead of the offer for sale (OFS) by the Indian promoter group. Large quantities of shares were borrowed from the Securities Lending and Borrowing or SLB segment and sold in the market a few days before the OFS announced September 21 at 33% discount to the prevailing market price.Sebi has asked the stock exchanges to provide five years

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