SEBI penalty on promoter over Refex insider trading matter

Sebi PenaltyInsider Trading ChargeRegulatory & Legal View source PDF Explain this filing

JAINREC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.7%Reaction day

₹408.00

prior close

₹404.80

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.7%-1.0% vs market

Metals & Mining peers, median of 61sector · sector level-0.8%-0.9% vs sector

On the reaction day the stock moved 1.0 pts less than Nifty Smallcap 250 and 0.9 pts less than its Metals & Mining peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.1

10m

-0.4

15m

-0.8

30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.7-0.7-1.0-0.8-0.9

Next day

-2.9-0.8-2.1-0.7-2.2

-1.7+0.5-2.2-0.7-1.0

+2.5+1.5+1.0+0.5+2.0

+3.3+1.9+1.4+1.1+2.2

+0.9+1.9-1.1+1.3-0.5

-4.3+1.2-5.5+0.7-5.0

15d

-1.5+1.0-2.5+1.3-2.8

-2.3-1.9-0.5-0.5-1.8

-8.3-1.4-6.9-0.8-7.5

+4.6-8.8+13.4-8.2+12.8

UpDownMarket · Nifty Smallcap 250Sector · Metals & Mining peers, median of 61Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

SEBI imposed a Rs 25 lakh penalty on promoter Kamlesh Jain and Jain Family Trust via adjudication order dated Dec 12, 2025, for alleged insider trading in Refex Industries shares. Unlawful gains alleged at Rs 12.33 lakh. Matter relates to Refex scrip, not company shares. Promoter plans to appeal. Company says no impact on its financial position or operations. Already disclosed in IPO offer document.

Likely market impact

Personal penalty on promoter, not company. Promoter plans to appeal. No financial or operational impact on company stated.