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SEBI raises concerns over manipulation in SME segment, leading to a 5% fall in S&P BSE SME IPO index. 41 SME stocks, including Atmastco, Inflame Appliances, Srivasavi Adhesive Tapes, and Goyal Salt, witnessed double-digit fall. SEBI may implement disclosures for SME IPOs amidst price manipulation instances.
Smallcap World Fund sold Rs 104.06 crore stake in Indigo Paints.
As per shareholding pattern till December 2023, Rekha Jhunjhunwala holds 11.24 percent stake in NCC
234 companies have raised funds from Indian markets so far in 2023, with a significant portion of 176 companies falling within the SME category. In comparison, CY22 witnessed 103 SMEs entering the market; the number was 52 in 2021, 31 in 2020, and 31 in 2019.
While a large pool of investors focused mainly on listing gains, several IPOs have given better returns ranging from 50% to 140% after the initial phase of listing. About 42 companies continue to hold or deliver better returns than their initial gains.