Today, Brightcom issued a shocking release to the Stock Exchanges.
Apparently, five months back, on 16 Sept, 2021, SEBI had ordered a forensic audit on Brightcom.
![](https://alphaideas.in/wp-content/uploads/2022/02/sebi1.jpg)
![](https://alphaideas.in/wp-content/uploads/2022/02/sebi2.jpg)
SEBI here goofed up by not marking a Copy to the Stock Exchanges.
The Company did not inform of this audit to the Stock Exchanges.
Instead, in a letter dated the same day i.e. 16 Sept, 2021, it informed the exchanges of its fund raising plans.
![](https://alphaideas.in/wp-content/uploads/2022/02/bright.jpg)
Some allottees were folks who were well known due to their incessant media appearances.
![](https://alphaideas.in/wp-content/uploads/2022/02/bright2.jpg)
The effect on the stock price was remarkable
![](https://alphaideas.in/wp-content/uploads/2022/02/bright3-1024x461.jpg)
As the share price went up, so did the retail participation
Promoter shareholding went from 36.76% to 19.74% (Pledge of 275 Crores)
Public shareholding went from 63.05% to 80.26%
End of Story.
One reply on “The Brightcom Story”
What would be the implications of this?
I bought this stock in anticipation of the bonus they were to issue but then this news broke out and now its stuck in lower circuits.