Securities and Exchange Board of India (Sebi) is probing cases of mule accounts and inflated initial public offering (IPO) applications which are meant to jack up share sale subscription numbers, its Chairperson Madhabi Puri Buch said on Friday.
There are three cases which have come to the notice of the capital markets regulator, Buch said, without divulging any further details. Some of the merchant bankers who are involved in such unauthorised activities are also under Sebi’s radar.
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