India markets regulator bars Kore Digital from fundraising, alleges financial manipulation
India’s markets regulator has barred telecom infrastructure firm Kore Digital from raising money from the public and blocked its migration to the main stock exchange board, alleging financial irregularities.
In a notification issued on Thursday, the Securities and Exchange Board of India said Kore Digital inflated revenue through non-genuine subsidiaries and manipulated financial statements.
SEBI said its findings showed that since Kore acquired three subsidiaries in late 2024, those units had accounted for about 75% of the company’s revenue on average.
