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First Overseas Capital banned for 2 yrs
Business Standard
|October 24, 2025
‘The Securities and Exchange Board of India (Sebi) on Thursday barred investment banking outfit First Overseas Capital from dealing in the securities market for two years and imposed a fine of 20 lakh for alleged violations.
The investment banker has also been banned from taking any new mandate for IPOs, arrangements, or corporate advisory for two years.
‘The market regulator has alleged that the firm’s total underwriting obligations were more than the specified limit of 20 times at multiple points of time and that it accepted public deposits to fulfil its underwriting obligations.
This story is from the October 24, 2025 edition of Business Standard.
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