Sebi cancels Trafiksol SME IPO

SEBI
 asks company to refund investors' money

Posted by: Nilesh Waghela

Market regulator Securities and Exchange Board of India (Sebi) on Monday cancelled the SME IPO of Trafiksol ITS Technologies, which was earlier put on hold by BSE pending investigation, and asked the company to refund the money to the investors.

Market regulator Securities and Exchange Board of India (Sebi) on Monday cancelled the SME IPO of Trafiksol ITS Technologies, which was earlier put on hold by BSE pending investigation, and asked the company to refund the money to the investors.

"Trafiksol is directed to refund the money paid by the investors, who have been allotted shares in the Initial Public Offering," Sebi's 16-page order said.

The market watchdog has also directed BSE to oversee the refund process in coordination with the bankers to the issue and the refund process must be completed within one week.


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