 "yes bank")
Several brokers have come under the lens of the Securities and Exchange Board of India (Sebi) for facilitating the sale of YES Bank shares issued in the follow-on public offer (FPO) last week, defying a freeze on them.
Over 12.5 billion new shares issued in the FPO commenced trading on Monday. However, these were allotted to FPO applicants on Friday, with a separate international securities identification number (ISIN) that was frozen. In other words, these shares appeared in investors’ dematerialised (demat) accounts but couldn’t be sold as yet.
Some brokers are said to have allowed their clients to execute sell orders in
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