Sebi’s probe found prima facie evidence suggesting the involvement of multiple entities in creating artificial price movement and misleading market activity in the stock
The Securities and Exchange Board of India (Sebi) has passed an interim order against over 30 entities, including promoters and market intermediaries, in connection with alleged manipulation in the shares of RRP Semiconductor, following an extraordinary 725-fold surge in the stock price over 19 months.
The regulator noted that the scrip of RRP Semiconductor — formerly known as GD Trading and Agencies — skyrocketed from ₹15 on April 2, 2024, to ₹10,887 on October 31, 2025. The sharp rise triggered a preliminary examination into potential violations of fraud and unfair trade practices norms.
Sebi’s probe found prima facie evidence suggesting the involvement of multiple entities in creating artificial price movement and misleading market activity in the stock. The examination covered the period between April 2024 and October 2025.
The order names key individuals including Ramesh Mishra and Ira Mishra, along with several entities such as Multiplier Share & Stock Advisors and Pace Stock Broking Services.
First Published: Apr 10 2026 | 10:01 PM IST
