ENCLOSED HEREWITH ANNOUNCEMENT UNDER REG 30 OF SEBI (LODR), 2015 FOR CLARIFICATION ABOUT MARKET RUMOURS
Awaiting price reaction for this filing.
RRP Semiconductor has issued a formal clarification denying several viral market rumours. The company states that cricket legend Sachin Tendulkar has never invested in, holds no shares of, and has no connection with the company as a board member, advisor, or brand ambassador. It also denies receiving 100 acres of land from the Maharashtra government. The company acknowledges that its share price has surged from Rs 10 to Rs 9,000 over the past 10 months on the BSE but states its financials do not justify this rise. Around 99% of issued capital is under lock-in until March 31, 2026, with only about 4,000 shares held by public shareholders in demat form. The company has stated it will take action against suspected intermediaries spreading these rumours.
This is a serious red flag for retail investors — the company itself admits the price rise is not supported by fundamentals and is attributing it to rumour-driven speculation. The extremely thin public float (only ~4,000 shares) makes the stock highly prone to manipulation. Shareholders face significant risk of a sharp correction once the lock-in ends in March 2026, and SEBI may step in given the unusual price movement and public clarifications.