sebi:WTM/AB/CFD/CFD-SEC-1/31023/2024-25
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Facts / Headnote
Trafiksol directed to refund IPO subscription money with interest to allottees and to cancel the allotted shares after transfer to a company demat account
Provisions invoked
- s. 19
Regulations
- Reg. 296
Parties
- Trafiksol ITS Technologies Ltd
Holding
Trafiksol is directed to refund the money paid by investors who were allotted shares in the IPO, with interest, and to cancel those shares after their transfer to a separate demat account in the name of the Company.
Full text
Order in the matter of Trafiksol ITS Technologies Ltd Page 2 of 16 the issue was set between Rs. 66 and Rs. 70 per share, and the IPO was open for subscription between September 10, 2024 and September 12, 2024.
Order in the matter of Trafiksol ITS Technologies Ltd Page 3 of 16 Scope of present proceedings 8. The scope of these proceedings is confined to examination of the material misstatements in the Prospectus related to the objects of the issue. Other aspects of the investigation, including the role of the Merchant Banker, are being dealt with in separate proceedings. This matter is being addressed independently, given the critical urgency arising from the fact that investors' funds have remained locked in for more than two months pursuant to the Interim Order. Show Cause Notice
Order in the matter of Trafiksol ITS Technologies Ltd Page 4 of 16 Compliant received from ‘SIREN’ September 17, 2024 Scheduled date of Listing Listing put on hold September 18, 2024 Reply filed by MB before BSE October 08, 2024 BSE Examination Report October 11, 2024 SEBI Interim Order November 11, 2024 Investigation Concluded November 14, 2024 SCN Issued
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Source: SecMarx — sebi:WTM/AB/CFD/CFD-SEC-1/31023/2024-25. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.