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Thursday, May 19, 2011

SEBI halts Vaswani Industry ltd IPO listing

In an attempt to trap retail investors, HNI category was oversubscribed 11 times and at eleventh hour 93% of HNI investors opted to retreat.
The modus-operendi was to present cheques liable to bounce resulting in the rejection of the bid.
This was a clear case of duping retail investors.

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