Finshots
Finshots
February 11, 2025 at 05:11 AM
*This company has been slapped with a Rs 34 crore fine by SEBI!!* Brightcom Group (BGI), which started as an e-greeting card company in 1994 and later rebranded into a digital marketing firm, has a history of changing names and business strategies to keep themselves from getting caught. It once was even a part of Nifty Alpha 50 index, exposing several mutual funds and ETFs to its risky dealings. However, SEBI finally caught on to BGI’s financial manipulation, hiding ₹868 crore in losses, inflating profits, and misleading investors while promoters secretly dumped their shares. Now, with a ₹34 crore fine and a market ban, the real damage falls on retail investors, who hold nearly 80% of the company’s shares. But the fine seems oddly light to many. Why? Read today's newsletter to find out! https://bit.ly/415T0aB
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