Overview
- SEBI has begun examining the stock’s extraordinary rise for potential wrongdoing, according to multiple reports citing people familiar with the matter.
- The BSE placed the scrip under Additional Surveillance Measures and shifted it to once-a-week trading with a 1% price band after phased tightening.
- Despite the rally, the company disclosed it has not started semiconductor manufacturing, reported negative revenue and a net loss, and lists two full-time employees.
- The share price logged 149 consecutive upper-circuit sessions and is roughly 6% below its November 7 peak, with market value around $1.7 billion.
- Ownership is highly concentrated, with Rajendra K. Chodankar holding about 74% and a tiny free float, as the firm contests a withdrawn share-sale approval and rebuts viral misinformation.