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Mumbai: The Securities and Exchange Board of India (Sebi) has sought details of trades done by senior executives at large conglomerates with listed subsidiaries, said two people with direct knowledge of the matter.
The capital markets regulator is probing whether these employees traded in shares of the group’s arms ahead of promoters or holding companies increasing stakes in them.
At least eight to ten listed entities are learnt to have received these queries from Sebi, said the two people privy to the matter. ET could not ascertain the names of the companies and the period of the transactions that the regulator is looking at. An email query sent to Sebi remained unanswered.