Pre-IPO exits at manipulated prices: Why Sebi went after Ranbir Kapoor and the Aamir Khan-backed company?

Droneacharya Aerial Innovations hit the market in December 2022 as one of the year’s most high-profile SME listings, helped by a standout roster of early investors, including Bollywood actors Ranbir Kapoor and Aamir Khan, along with market veteran Shankar Sharma. The IPO, which was subscribed a whopping 244 times, benefited from the excitement surrounding the […]

Dronecharya’s IPO under scanner: Sebi strikes company, market promoters, fined Rs 50 lakh

The Securities and Exchange Board of India (Sebi) has barred SME Droneacharya Aerial Innovations (DIAL) and its promoters, Prateek Srivastava and Nikita Srivastava, from entering the securities market for two years after they were found guilty of misusing IPO proceeds, misrepresenting financial statements and embezzling company funds.Sebi has also reined in business consultancy Instafin Financial […]