SEBI examines ₹13,264.87 crore RRP Semiconductor market cap amid share acquisition

This is an interim order by SEBI regarding a preliminary examination into the exponential rise in the share price of RRP Semiconductor Limited (formerly G D Trading and Agencies Ltd.) and potential violations of fraud and unfair trade practice regulations.

Who it concerns: RRP Semiconductor Limited; Ramesh Mishra; Ira Mishra; Multiplier Share & Stock Advisors Pvt. Ltd.; Chetan Rasiklal Shah; Pace Stock Broking Services Pvt. Ltd.; Atul Goel; Nikhil Gupta; Neo Apex Venture LLP; Bhavin Y Mehta; Sumita Mishra; Rajendra Kamalakant Chodankar; Vivek Gaur; Prachi Jain; Jyoti Poddar; Pooja Rohtagi; Ankur Bansal; Sachin Shetty; Leena Shetty; Tinu Sharma; Chirag Sachapara; Rajesh Tripathi; Atul B Chauhan; Savir Power & Automation Pvt. Ltd.; Bhaven Vasanji Gala; Satyajit Mishra; Rahul Sikaria; Avani Keniya; Sachapara Krupali Gaurav; Nitin Kasliwal; Rizwana Abdul Razak Nagarkar; Jyoti Ranjan Pradhan; Manish Kumar; Sarika Shet; Ashish Kumar Sharma; Mahadev Karbhari Bangar; Gurudatta Bhat; Trilochan Sharma; Somisetty Malathi Latha; Manoj Gupta.

What SEBI found or ordered

• SEBI initiated a preliminary examination for the period April 02, 2024, to October 31, 2025, to check for violations of the SEBI Act and PFUTP Regulations.
• SEBI noted the share price increased from ₹15 to ₹10,887.10 (725 times) during the examination period.
• SEBI found that the company changed its name and business object to semiconductors in April/May 2024, coinciding with increased trading activity.
• SEBI identified a preferential allotment of 1,35,24,000 shares to 30 entities at ₹12 per share, totaling ₹16.23 Crore.
• SEBI observed that promoter shareholding dropped from 74.5% to 1.28% following the allotment, while public shareholding rose to 98.72%.
• SEBI found connections between several allottees through call detail records (CDRs) and fund transfers, specifically noting transfers from Rajendra Kamalakant Chodankar to other allottees matching the allotment consideration.
• This is an interim order; no final penalties or bars are stated in the provided text.

Also in the document

• The total market capitalization of the company was reported as ₹13,264.87 crore as of April 06, 2026.
• SEBI noted that Rajendra Kamalakant Chodankar acquired 74.5% of the expanded share capital and made an open offer for further shares, which is currently pending due to litigation.
• SEBI identified specific fund transfers from Rajendra Kamalakant Chodankar to Mahadev Karbhari Bangar, Rizwana Abdul Razak Nagarkar, and Leena Shetty that exactly matched the cost of their share allotments.