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    Question

    Recently SEBI has penalises how many entities for

    diverting IPO proceeds in Birla Pacific Medspa case?
    A 5 Correct Answer Incorrect Answer
    B 8 Correct Answer Incorrect Answer
    C 10 Correct Answer Incorrect Answer
    D 12 Correct Answer Incorrect Answer
    E 15 Correct Answer Incorrect Answer

    Solution

    Capital markets regulator SEBI has imposed penalties totalling Rs 3.42 crore on 10 entities, including Birla Pacific Medspa and Yashovardhan Birla, for violating listing agreements as well as diverting proceeds from the initial public offer of Birla Pacific Medspa Ltd. The regulator imposed a fine of Rs 1.07 crore on Birla Pacific Medspa Ltd, Rs 32 lakh on Abhijit Desai, Rs 26 lakh on PVR Murthy and Rs 25 lakh each on Yashovardhan Birla, Venkateshwaralu Nelabhotla, Mohandas Adige, Anoj Menon, Rajesh Shah, Upkar Singh Kohli and Tushar Dey. Learn Along: SEBI Headquarters: Mumbai Chairman: Madhabi Puri Buch When a private company first sells shares of stock to the public, this process is known as an initial public offering (IPO). In essence, an IPO means that a company's ownership is transitioning from private ownership to public ownership. For that reason, the IPO process is sometimes referred to as going public.

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