Sebi revelations on Mishtann Foods leaves investors with a bitter taste

Dec 30, 2024 | 13:36 IST

Sebi report indicates that the company pumped the stock prices by portraying rosy financials, lured in unsuspecting investors, and then dumped the stock when prices hit the peak

Gujarat-based Mishtann Foods, a BSE-listed basmati rice processing company, was making an impressive mark. From modest sales of ₹5 crore in FY14, the company has surged to over ₹1,200 crore in sales by FY24. Its share price also soared from around ₹2-2.5 per share in February 2021 to an all-time high of ₹23 per share by February this year.

Naturally, the number of public shareholders exploded, growing from just 516 in 2017-18 to a staggering 4.23 lakh by September 2024, with everyone eager to be a part of Mishtann Foods’ success story. However, there has been a shocking twist to this success tale.

TOI

TOI

Sebi revelations on Mishtann Foods leaves investors with a bitter taste

Sebi report indicates that the company pumped the stock prices by portraying rosy financials, lured in unsuspecting investors, and then dumped the stock when prices hit the peak

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TOI

Sebi revelations on Mishtann Foods leaves investors with a bitter taste

Sebi report indicates that the company pumped the stock prices by portraying rosy financials, lured in unsuspecting investors, and then dumped the stock when prices hit the peak

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