Mumbai (Maharashtra) [India], June 27 : Confirming certain media reports, the Securities and Exchange Board of India (SEBI) on Friday stated that it had conducted search and seizure operations at multiple locations in June, 2025 in connection with a pump-and-dump scam involving certain stocks.
In a statement, the markets regulator said it had seized incriminating evidence during the raids and that an investigation is ongoing.
"Various news reports have appeared in media regarding Securities and Exchange Board of India (SEBI) raids in the matter of pump and dump scam. It is hereby clarified that SEBI has conducted search and seizure operations at multiple locations in the month of June 2025 in connection with pump and dump in certain scrips and has seized incriminating evidence. Investigation in the matter is under progress," the SEBI statement read.
A pump-and-dump scheme typically involves spreading false or misleading information to create a buying frenzy that will "pump" up the price of a stock and then "dump" shares by selling them at the inflated price.
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