The Securities and Exchange Board of India on Thursday said it has unearthed yet another IPO scam in the public issue of shares of Infrastructure Development Finance Company [Get Quote] Ltd.
The market regulator has found that on August 8, 2005, one Roopalben Panchal received 266 shares each from 12,253 demat accounts aggregating to 32,59,298 shares and 532 shares each from four dematerialised accounts aggregating to 2,128 shares.
"Thus she had received a total of 32,61,426 shares in off market transactions from 12,257 dematerialised accounts," Sebi said.
The regulator further said that it would investigate registrar to the issue, Karvy.
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