SEBI Cracks Down On DroneAcharya, Founders Over IPO Fraud, Revenue Inflation

SEBI has fined DroneAcharya, its founders, and advisors a total of INR 75 Lakh and barred them from the securities market for up to two years, citing a “systematic attempt to mislead investors”

The regulator has frozen the company’s assets during the ongoing investigation and alleges the company fabricated nearly 35% of its FY24 revenue

SEBI’s report says pre-IPO investors were promised high returns — with one individual netting a 5,800% return on their investment — while…