SEBI restrains Pacheli Industrial Finance Limited from capital market access
This order confirms SEBI's interim restraint on Pacheli Industrial Finance Limited (PIFL) and six other entities from accessing the capital market, following an examination into a 372% surge in PIFL's share price that appeared inconsistent with the company's negligible reported revenues.
Pacheli Industrial Finance Limited, Abhijit Trading Company Ltd, Calyx Securities Pvt. Ltd, Hibiscus Holdings Pvt. Ltd, Avail Financial Services Ltd, Edoptica Retail India Ltd, Sulphur Securities Pvt. Ltd
- SEBI restrained the company and six preferential allottees from buying, selling, or dealing in securities or accessing the capital market.
- SEBI directed a detailed investigation into the matter.
- SEBI noted a 372% increase in PIFL's share price (from INR 21.02 to INR 78.2) between December 2, 2024, and January 16, 2025.
- SEBI observed that PIFL reported negligible revenues in the last three financial years, with no operating income in FY 2021-22 and FY 2022-23.
- SEBI noted the company issued 51,51,51,500 equity shares on a preferential basis to six non-promoter entities for a total value of approximately INR 850 Crore.
- SEBI found that the company did not disclose details regarding the nature, purpose, or cost of the INR 1000 crore loan that was converted into equity.
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Document details
| Official title | Confirmatory Order in the matter of Pacheli Industrial Finance Limited |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/CFID/CFID-TPD/31942/2025-26 |
| Status | closed (order) |
| Year | 2025 |
| Closing date | — |
| Documents | 1 |