SEBI raids shell firms involved in ₹300 cr 'pump & dump' scam

Dharini Mudgal, Published on Jun 20th, 2025

SEBI raids shell firms involved in ₹300 cr 'pump & dump' scam

SEBI conducted raids across Ahmedabad, Mumbai and Gurugram to bust a ₹300 crore pump and dump racket, Moneycontrol reported, citing people familiar with the matter. Raids involved 15-20 shell companies, which were allegedly created by promoters of certain listed companies to pump and dump their shares. These are reportedly the biggest raids in SEBI’s history in terms of monetary value.

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