RRP Semiconductor Share Price Soars — What’s Driving the Rally?
RRP Semiconductor explains that Sachin Tendulkar is not a stakeholder after its shares increased 57,000% in just 18 months. RRP Semiconductor, whose stock increased 57,000% in 18 months, reveals that the business also informed stock markets that it did not get any 100 acres of land from the Maharashtra government. Its shares have not been subscribed for by Sachin Tendulkar.
On October 14, RRP Semiconductor made it clear that former cricket player Sachin Tendulkar is not a brand advocate for the company and has not purchased any of its shares.
Following “unprecedented price movement” of the company’s shares, which increased by a staggering 57,000% since April 2024, the explanation was made.
Additionally, the business informed stock markets that the Maharashtra government had not given them any 100 acres of land.
Regarding the spread of misinformation on social media by certain dishonest individuals, we would like to provide the following clarifications:
1. The renowned cricketer Sachin Tendulkar has never purchased any business stock. He doesn’t own any stock in the business;
2. Cricket legend Mr. Sachin Tendulkar is not a member of the Board, has no direct or indirect relationship to the Board members, and does not advise the firm;
3. Cricket legend Mr. Sachin Tendulkar does not represent the firm as a brand ambassador;
4. The Maharashtra government has not granted the firm any 100 acres of land.
5. The business stated in a stock market filing that its financials could not justify the increase in share price from Rs 10 to Rs 9,000 that it posted on the BSE website as part of Board information.
“The Company further puts on record that only around 4,000 shares are in demat mode with public shareholders and certain persons are trading in the market in un-ethical ways and has become detrimental to the reputation of the Company and Legendary Cricketer Mr. Sachin Tendulkar who is no way connected with the Company,” stated RRP Semiconductor.
After the stock increased 13,000% in the last year and an astounding 57,000% since it was listed in April 2024, the business had to make these disclosures.
On October 14, at 2:00 PM, RRP Semiconductor’s shares were trading at Rs 8,584 a share, 2% above the upper circuit.
“The business furthermore wishes to document that the whole number of preferential allotment shares
which accounts for 99 percent of the company’s issued and paid-up capital, is locked in with
deposits through March 31, 2026. “KMP and none of the Board members have dealt with any of the Company’s securities,” RRP Semiconductor continued.
“The suspected intermediaries who are circulating rumors and defaming the reputation of Legendary Mr. Sachin Tendulkar and the Company” are the targets of appropriate steps that the firm is now taking, it added.
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