SEBI bans 39 over alleged RRP semiconductor surge to ₹10,887.10
SEBI has banned 39 individuals and entities from the stock market after they were alleged to have manipulated RRP Semiconductor's share price.
The company's stock shot up from just ₹15 to a wild ₹10,887.10 in only 19 months, driven by alleged manipulation and misleading social media information.
As of Friday, April 10, 2026, promoters and others are officially blocked from trading.
Investigators find coordinated RRP semiconductor manipulation
Investigators found these entities coordinated through calls and money transfers, helping each other inflate the price even though the company wasn't doing well financially.
The promoters' stake dropped dramatically as shares were handed out to various players, while fake narratives lured over 1,000 new investors between March 2024 and February 2026.
With all this uncovered, BSE has already restricted trading in RRP Semiconductor.